Romanian investment fund Fondul Proprietatea’s liquidity has increased since its secondary listing on the London Stock Exchange (LSE), at the end of April, according to a statement of the fund’s manager Franklin Templeton Investments.

Before the secondary listing in April, the Fund’s average daily trading value (ADTV) on the Bucharest Stock Exchange (BVB) increased by 17% that month, compared to the ADTV of the Fund in the first quarter of 2015. The Fund’s share in the total ADTV of the Bucharest Stock Exchange also increased from 26% in the first quarter to almost 30% in April.

The month of May saw a dip in the Fund’s liquidity, as well as in the average daily trading value on the BVB, but the Fund’s average liquidity on the BVB increased again in June (by 19%), and in July (by more than 25%), compared to the first quarter’s average. The Fund’s share reached a record level of 32% in the ADTV of the Bucharest Stock Exchange in July.

“Therefore, in addition to a new line of liquidity being created with the Fund’s listing on the LSE, the Fund’s liquidity on the Bucharest Stock Exchange has increased as well, positively impacting the total liquidity of the Romanian capital market,” reads the statement.

Fondul Proprietatea was launched in 2005 to compensate Romanians whose properties were confiscated by the former communist government. Franklin Templeton Investments officially took over as investment manager and sole administrator of the Fund in late September 2010.

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Irina Popescu, irina.popescu@romania-insider.com