The representatives of US group Franklin Templeton estimateFondul Proprietatea (Property Fund) will most likely be listed inJanuary, provided that the Fund's shareholders approve themanager's mandate in September. "We have a stipulation in themanagement contract to list FP within 90 days from managementtakeover, and should the AGA (shareholders' meeting) appointingFranklin Templeton as an administrator be held in September,listing may be carried out in January 2011," said Greg Konieczny,coordinator of Franklin Templeton's local office. The Americanshave started losing patience, as they have been waiting for morethan a year to take over the management of Romania's biggest fund,with 2.8bn-euro assets. "We're losing patience, but we've learntthat in Romania it takes patience to solve things. We are notupset, but we'd like things to move faster," stated Mark Mobius,the executive chairman of the emerging market investment unit ofFranklin Templeton. Mobius maintains the Fund's listing isimportant as it will boost the visibility and liquidity of theRomanian capital market and attract foreign investors.
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