Franklin Templeton remains Fondul Proprietatea’s manager
Franklin Templeton, which manages the biggest Romanian investment fund Fondul Proprietatea (FP), will manage the fund for another two years after the fund’s shareholders met to renew the contract, Wall-street.ro reported.
Andrei Chirileasa · Journalist
· Updated · 1 min read
Franklin Templeton, which manages the biggest Romanian investment fund Fondul Proprietatea (FP), will manage the fund for another two years after the fund’s shareholders met to renew the contract, Wall-street.ro reported.
The annual management fee charged by the Americans will decrease, but they will be encouraged to distribute more money to shareholders in the form of dividends.
Thus, the annual management fee collected by Templeton will decrease from 0.7% to 0.45% of the market value of Fondul Proprietatea, while the commission charged for dividends and redemption of shares (and GDRs) will increase from 1% to 2.5% between April 1, 2022 - March 31, 2023, and 1.75% between April 1, 2023 - March 31, 2024.
The new commission policy is more advantageous for Templeton administrators, who in recent years have focused heavily on dividend distribution and share buyback. Franklin Templeton has managed Fondul Proprietatea for 11 years.
(Photo: Timon Schneider | Dreamstime.com)
