Fondul Proprietatea (BVB: FP) announced on October 7 that it has started the selection procedure for a new alternative investment manager after its shareholders voted to extend the mandate of the current administrator, Franklin Templeton, for only a period of one year (compared to the four-year renewals so far) until March 31, 2026.<\/p>\n
The change in management reflects the plans of the Finance Ministry, which wants FP to play a more active role in public investment projects.<\/p>\n
The Ministry of Finance, which owns about 6% of the shares of Fondul Proprietatea, wants the Fund to co-finance a component of Romania’s National Recovery and Resilience Plan (PNRR) and requested that the Fund’s shareholders approve the organisation of a competitive selection procedure for a new manager, as well as the change of the management targets.<\/p>\n
The potential candidates interested in managing Fondul Proprietatea are expected to submit their bids by October 21 at the latest, according to a report published on the Stock Exchange.<\/p>\n
The Committee of Representatives of the company will carry out the selection procedure through the consultant Numis Securities Limited, a member of the Deutsche Bank (Deutsche Numis) group, as was decided in the general meeting of shareholders on September 27.<\/p>\n
iulian@romania-insider.com<\/em><\/p>\n (Photo source:\u00a0Timon Schneider<\/a>\/Dreamstime.com<\/a>)<\/em><\/p>","protected":false},"excerpt":{"rendered":" Fondul Proprietatea (BVB: FP) announced on October 7 that it has started the selection procedure for a new alternative investment manager after its shareholders voted to extend the mandate of the current administrator, Franklin Templeton, for only a period of one year (compared to the four-year renewals so far) until March 31, 2026. The change […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2003","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/2003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2003"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/2003\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}