As of August 2022, Fondul’s NAV reached RON 16.18bn, which would translate into a NAV per share of RON 2.8190, an increase of 50.8% YoY.

According to the latest Fondul Proprietatea’s NAV report (31 August 2022), Fondul reported a total NAV of RON 16.18bn (EUR 3.33bn), which translates into a NAV per share of RON 2.8190 (EUR 0.5800).

Comparing it on a YoY basis, the total NAV recorded an increase of 46.7%, while NAV per share grew by 50.8%.

Fondul Proprietatea’s portfolio structure still remains focused on the power utilities generation sector (77.6% of NAV) with Infrastructure (6.6%), Power & Gas supply and distribution (6.3%) and Oil & Gas (4.9%) following. This is also why the two biggest holdings, Hidroelectrica and OMV Petrom amount to 82.5% of the total NAV of the Fund. In terms of the Fund’s portfolio structure, unlisted equities accounted for the vast majority of NAV, standing at 92.1%. Following them, we have listed equities with 5.9%.

Turning our attention towards the share price’s performance, during the month, the Company’s share price remained mostly flat, decreasing slightly by 1.3%, ending the month at RON 1.96 per share. The current discount to NAV per share stands at 30.6%.

Fondul Share Price & NAV per Share