=FondulProprietatea, one of the most valuable companies in the economy,with 3.82bn-euro assets, made its first investments in its fiveyears in business buying shares worth 265m lei (63m euros) from theAustrian bourse.
The shares include banking stock, most likely belonging to ErsteBank (EBS), the majority shareholder in BCR, the biggest domesticbank.
Last month, FP carried out total investments worth around 305mlei, with purchases on the Bucharest Stock Exchange, worth almost40m lei, probably targeting BRD shares.
In late February, FP had around 430m lei (2.7% of assets)invested in banking stock, with the fund's assets being, however,85% dominated by energy companies.
Back when it was set up in 2005, Fondul Proprietatea receivedfrom the Romanian state a package of more than 80 stakes in thebiggest companies in the economy and the Fund's portfolio has sincelargely remained unchanged.
When it took over the manager position, Britain's FranklinTempleton pledged to boost the Fund's value by diversifying andlisting the companies of a portfolio dominated by energy andentirely made up of Romanian assets.
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