As of September, Fondul’s NAV reached RON 12.03bn (+23.8% YoY).
According to the latest NAV report (30 September 2021), Fondul reported a total NAV of RON 12.26bn (EUR 2.48bn), which translates into a NAV per share of RON 2.0812 (EUR 0.4207).
When comparing it to the same period last year, their total NAV recorded an increase of 23.84%, while NAV per share is up by 31% YoY.
Fondul Proprietatea’s portfolio structure remains largely oriented towards the power utilities generation sector (58.98% of NAV) and oil and gas sector (14.77% of NAV), which is why the two largest holdings, Hidroelectrica and OMV Petrom account for 73.75% of the total NAV.
In terms of the Fund’s portfolio structure, unlisted equities make up the majority, accounting for 79.08%, which represents an increase of 7.4 p.p. YoY. Listed equities follow with 16.9% (-1.2 p.p. YoY), while net cash and receivables account for 4.68% of the structure (-6.23 p.p. YoY).
The premium to NAV per share currently stands at 14.9%.