Franklin Templeton, the long-time manager of Fondul Proprietatea (FP), has formally notified the Bucharest Stock Exchange that it is now willing to negotiate a new four-year mandate, reversing its earlier decision to withdraw from the administrator selection process.

According to the announcement, Franklin Templeton International Services - FP's alternative investment fund manager (AIFM) and sole administrator - has presented the key commercial terms for a new mandate to the Fund's Board of Representatives, signalling its intention to remain at the helm.

"Franklin Templeton remains fully committed to its responsibilities to the Fund and its shareholders and continues to leverage the expertise and capabilities of its team in Bucharest, supported by the entire organisation," the company said, as reported by Economedia.ro.

In November 2024, Franklin Templeton publicly stated it would not participate in the tender to select a new FP administrator, bringing an end to what has now become nearly 15 years of managing one of Romania's largest investment funds.

In April 2025, Templeton's mandate was extended only by one year until a new manager could be appointed. The selection process, however, quickly became controversial.

A new manager - ROCA FP, a Romanian consortium formed by ROCA Investments and Impetum Group - was announced as the winner of the tender. But a group of individual shareholders representing more than 11% of FP's voting rights contested the procedure, questioning both the transparency of the selection process and the consortium's limited experience managing large investment funds.

The dispute triggered internal debate and drew public scrutiny, creating uncertainty over FP's governance and accelerating pressure on the Board of Representatives. They declared themselves dissatisfied with the management strategy proposed by ROCA FP, so there was an unprecedented mobilisation of small investors through which the resumption of the selection procedure for a new administrator was proposed and voted on, with the support of the state.

iulian@romania-insider.com

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