Fondul Proprietatea in Romania makes EUR 127 mln profit in six months

Romania's investment fund Fondul Proprietatea posted a profit of EUR 127 million in the first half of 2011. With assets of EUR 3.8 billion, Fondul Proprietatea invested 3.5 percent of its net asset in the banking sector. The fund has also invested around EUR 83 million in shares on the Austrian stock market. The fund, managed by Franklin Templeton, reported holdings in Austrian banks Erste and Raiffeisen. Franklin Templeton Investment Management Limited, the investment manager of Romanian Fondul Proprietatea has recently recommended the investment fund to be listed on the Warsaw Stock Exchange in the first part of 2012. This would be a secondary listing for the fund, whose shares have been already floating on the Bucharest Stock Exchange since earlier this year. Fondul Proprietatea (symbol FP) is listed on the Bucharest Stock Exchange, where it has a market capitalization of EUR 1.7 billion. editor@romania-insider.com (photo source: Sxc.hu)