Fondul reported a total NAV of RON 10.35bn (EUR 2.12bn), which translates into a NAV per share of RON 1.7216 (0.6% YoY).

According to the latest NAV report (29 January 2021), Fondul reported a total NAV of RON 10.35bn (EUR 2.12bn), which translates into a NAV per share of RON 1.7216.

When comparing it to the same period last year, their total NAV recorded a decrease of -11.7%, meanwhile due to the fund’s intensive buyback program, NAV per share increased slightly by 0.6% YoY. Meanwhile, when comparing MoM, both Fondul’s NAV and NAV per share observed a solid increase of 0.8% and 1.4%, respectively.

When observing the portfolio structure, it remains traditionally oriented towards the power, oil and gas sectors, whereby the two largest holdings, Hidroelectrica and OMV Petrom account for 64.8% of the total NAV. In terms of the Fund’s portfolio structure, unlisted equities account for as much as 73.24%, representing an increase of 1.85 p.p. YoY. Listed equities and net cash and receivables follow with 17.52% (-7.2 p.p. YoY ) and 9.24% (+5.37 p.p. YoY), respectively.

Turning our attention towards the share’s price performance, in January, the company’s share price increased by 4.14%, while as of 15 February the share price amounted to RON 1.1650. Note that the discount to NAV per share currently stands at 6.2%.