Fondul reported a total NAV of RON 10.85bn (EUR 2.2bn), which translates into a NAV per share of RON 1.8166 (+25.2% YoY).

According to the latest NAV report (31 March 2021), Fondul reported a total NAV of RON 10.85bn (EUR 2.2bn), which translates into a NAV per share of RON 1.8166.

When comparing it to the same period last year, their total NAV recorded a solid increase of 13.2% YoY, while NAV per share is up by 25.2%. On a MoM basis, NAV increased by as much as 6%, while NAV per share is up by 6.3%.

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 66.8% of the total NAV. In terms of the Fund’s portfolio structure, unlisted equities account for as much as 73.67%, representing an increase of 1.88 p.p. YoY. Listed equities and net cash and receivables follow with 18.2% (-3.4 p.p. YoY ) and 8.2% (+1.53 p.p. YoY), respectively.

Turning our attention towards the share’s price performance, in March, the company’s share price increased by as much as 12%, while as of 15 February the share price amounted to RON 1.1650. Note that the discount to NAV per share currently stands at 8%.