Wealth Manager - the site for professional investment managers

Register for full access to Citywire’s Fund Manager database, news and analysis. Registration is free and only takes a minute.

Franklin Templeton brings giant Romanian fund to London

Franklin Templeton brings giant Romanian fund to London

Fondul Proprietatea, a £2.75 billion Romanian closed-end fund managed by Franklin Templeton, is planning a secondary listing in London.

Romania set up Fondul Proprietatea as a sovereign fund in 2005 to compensate eligible Romanian citizens whose property was confiscated under the communist regime. Franklin Templeton won the mandate to manage the fund in 2010.

The fund told the Romanian stock market: ‘Given that the feedback from international institutional investors that the fund manager has met during road-shows to the United States of America, Canada, the United Kingdom and other European countries has remained very supportive of the secondary listing of the fund, in order to attract additional demand for the fund’s shares, and the potential benefits such as broadening the foreign institutional investor base not currently active in Romania.

It also said the secondary listing would offer 'increased visibility of the fund, increased research coverage and potential valuation uplift and that 'the fund manager will be working with a view to complete the process as soon as possible.’

The fund has returned 44.8% over the past year, compared with 17.6% from the MSCI Romania index.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Investment Pulse: the highs and lows of 2014

Investment Pulse: the highs and lows of 2014

This week's Investment Pulse looks back at some of the biggest stories of the year as well as looking forward to 2015.

Play Inside ETFs: Why the US bull-run still has legs

Inside ETFs: Why the US bull-run still has legs

Global equities suffered a sharp sell-off in the third quarter but exchange traded fund investors are continuing to back the US to outperform in 2015

Play Paul Niven: I won't rip up the Foreign & Colonial Trust history book

Paul Niven: I won't rip up the Foreign & Colonial Trust history book

The newly appointed manager of the Foreign & Colonial trust talks about his plans for UK's oldest investment company.

Your Business: Cover Star Club

Manchester wealth firm hires Coutts director for London launch

Manchester wealth firm hires Coutts director for London launch

Former Coutts director Tony Robinson has joined Chartered Wealth Management to head the company’s newly opened London office.

Wealth Manager on Twitter