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Franklin Templeton International Services S.À R.L., in its capacity as alternative investment Fund Manager and sole director (the “Fund Manager”) of Fondul Proprietatea S.A. (the “Fund”) celebrates 13 years since the listing of the Fund on the Bucharest Stock Exchange on January 25, 2011. The 13-year anniversary is testament to its success and resilience in the Romanian capital market.
On this occasion, Johan Meyer, CEO of Franklin Templeton Bucharest Branch, and Portfolio Manager of Fondul Proprietatea said: “For the past 13 years, Franklin Templeton’s management of Fondul Proprietatea has been transformational for the Romanian equity markets, portfolio companies, and the Fund’s shareholders. Our strong commitment to promoting corporate governance and transparency among the Fund’s portfolio companies has resulted in improved financial performance and significant returns for our investors. Our sustained efforts have made an undeniable contribution to the development of the local capital market, and we look forward to achieving similar success in partnership with Fondul Proprietatea stakeholders in the future.”
Franklin Templeton has built a solid reputation as a committed and transformational Fund Manager in Romania and for its investors. The Fund has drawn on decades of global experience to effect the reforms necessary with profound impact and to establish best international practices amongst the portfolio companies.
Key highlights of the Fund’s activity since Franklin Templeton took over the management of the Fund in 2010 include:
• it successfully listed the Fund’s stake in Hidroelectrica on the Bucharest Stock Exchange in 2023, the largest listing in Romania to date and one of the biggest listings in Eastern Europe, and then distributed the money received from this transaction to the Fund’s shareholders.
• it generated compounded annual returns of 20.29 % in RON terms and 16.90% in USD terms for the Fund, since its listing on the Bucharest Stock Exchange in 2011. This compares favourably to many stock market indices.
• it has distributed over US$6.9 billion to its shareholders through a combination of dividends, share buybacks, and tender offers, since the Fund’s establishment.
• it attracted over US$1.5 billion of new foreign portfolio investments into Romania since 2011.
• it significantly increased the visibility of the Fund, Romania and the local market among global international investors, by organizing 6,200 meetings, 2200 conference calls and over 260 road-shows, investor days events, and conferences since 2011.
• it executed 35 private transactions and14 full exits via the capital market (IPOs, SPOs, ABBs, market sales), all with a cumulated value exceeding RON 19.8 billion (USD 4.3 billion).
• it completed 14 buy-back programs of RON 10,319.5 million and proposed shareholders the commencement of the 15th buy-back programme.
Looking forward, the Fund Manager remains committed to continuing its mission of creating value for the Fund’s shareholders and contributing to the further development of the local capital market.
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