DOCSLIB.ORG

Buletin Lunar

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Buletin Lunar Buletin Lunar BT Index Romania ROTX EVOLUȚIA UNITĂȚII DE FOND de la: 19-09-2006 DESCRIERE Jun 2021 21 19 BT Index Romania ROTX este un fond de 17 acțiuni de risc ridicat, ale cărui plasamente 15 urmăresc structura indicelui ROTX, indice lansat 13 de Bursa din Viena în colaborare cu BVB în martie 11 2005. Indicele ROTX are o structură definită care 9 cuprinde titlurile cele mai lichide tranzacționate 7 la BVB. La modificarea structurii indicelui, 5 portofoliul fondului se ajustează conform noii 3 structuri. BT Index Romania ROTX se adresează investitorilor cunoscători ai pieţei de capital, mai puţin conservatori, care se expun riscurilor prezente în operaţiunile de pe piaţa de capital și PERFORMANȚA* la data: 30-06-2021 care doresc să realizeze investiţii în titluri de Ultimele 30 de zile Anul curent Ultimele 365 zile De la lansare participare ale unui fond de tip index. 1.10% 19.84% 38.16% 108.13% *randament brut, înainte de impozitare AVANTAJE STRUCTURA PORTOFOLIU la data: 30-06-2021 investiție în acțiuni într-un mod simplu și transparent, cu lichiditate foarte ridicată; Acţiuni tranzacţionate, 90.23% puteti obtine expunere pe actiuni si randamentele atractive pe care acestea le ofera Depozite bancare, 12.28% fara efortul pe care il presupune administrarea proprie a portofoliului. Disponibil la vedere, 0.36% Active administrate (RON) 143,990,211 Moneda fondului RON Data lansării 19/09/06 Comisioane curente lunare**** 0.1700% Componență ROTX Emitenți Variația ultimelor 30 de zile Ponderea BRD-Groupe Societe Generale SA 10.06% 9.63% Erste Group Bank AG -7.75% 18.29% Electrica 6.40% 3.50% Fondul Proprietatea SA 6.94% 20.85% Romgaz 2.70% 7.20% Nuclearelectrica 1.35% 3.29% OMV Petrom SA 3.79% 14.25% Transgaz SA 0.25% 3.25% Banca Transilvania SA 0.74% 19.74% Comisioane › la cumpărare 0% › la răscumpărare Pentru mai multe informații despre fondurile administrate de noi și › comision de administrare** 0.15% înainte de 360 de zile 4% procedurile de subscriere sau răscumparare, nu ezitați să ne contactați: **aplicat la media lunară a valorii activelor nete peste 360 de zile 0% Tudor Irimiea Sebastian Calara › impozit *** 10% Manager Vanzari Regional Manager Vanzari Regional *** valabil numai pentru persoane fizice (NU se retine de catre BT Asset Management SAI SA) Transilvania Moldova Toate informaţiile din acest material sunt valabile la: 30-Jun-21 [email protected] [email protected] 0752.190.431 0743.065.514 ****Estimate pe baza cheltuielilor anului precedent cu comisioanele de administrare, depozitare si custodie, comisioane bancare, comision auditor si alte comisioane permise in actul de administrare, Ionut Stroe Cristian Petrisor Nisulescu exclusiv comisioanele platite intermediarilor pentru tranzactiile efectuate cu activele fondurilor Manager Vanzari Regional Relationship Manager (2.04%/an). Bucuresti si regiune Sud Bucuresti si regiune Sud O investiție în instrumentele pieței de capital, inclusiv unităţi de fond, reprezintă atât o oportunitate de câștig cât și un risc. Performanţele anterioare ale fondului nu reprezintă o garanție a realizărilor viitoare. [email protected] [email protected] Citiţi prospectul de emisiune şi informaţiile-cheie destinate investitorilor înainte de a investi în fondurile administrate de 0744.761.329 0756.116.118 BT Asset Management SAI. Informații suplimentare pot fi obținute în limba română la sediul societății sau în oricare dintre unitățile Banca Transilvania din țară, atât în format fizic, cât și în format electronic, la adresa www.btam.ro. Fondul deschis Clasificarede investiții BT IndexBT: UzRomania Intern ROTX este înregistrat sub Nr.Reg.CNVM. (ASF) CSC06FDIR/ 120034/17.07.2006. BT Asset Management SAI este înscrisă în Registrul ASF, în calitate de SAI cu Nr. PJR05SAIR/120016/29.03.2005, respectiv în BT Asset Mananagement SAI SA, str. Emil Racovita nr.22, Cluj 1 Napoca, tel: 0264.301.036, fax: 0264.410.433, email:[email protected] calitate de AFIA cu nr. PJR07 AFIAA/120003/01.02.2018. Depozitar: BRD – Groupe Societe Generale. .
Load more

Recommended publications
  • Fondul Proprietatea SA
    Fondul Proprietatea SA Annual Sole Director’s Report For the Financial Year Ended 31 December 2020 This is a translation from the official Romanian version. This is a PDF version of the official Annual Sole Director’s Report issued in the European Single Electronic Format (i.e. xHTML format), which is available on the webpage of Fondul Proprietatea SA, www.fondulproprietatea.ro. FONDUL PROPRIETATEA SA Contents List of Abbreviations . 2 Sole Director’s Letter to Shareholders . 4 Company Information . 13 The Company. 13 Shareholder Information. 13 Share Capital Information. 14 Summary of Financial Results. 14 Contact Details. 16 Presentation and Activity of the Fund . 17 General Information . 17 Market for Securities Issued by the Fund . 23 Buy-back Programmes . 25 Distributions to Shareholders . 28 NAV Methodology and NAV Evolution. 30 Investment Strategy and Portfolio Analysis. 32 Energy Sector Updates. 34 Update on the Largest 10 Portfolio Holdings. 37 Key Financial Highlights. 45 Risk Management. 47 Overview of Main Risks. 47 Internal Control and Risk Management. 49 Risk Management Systems . 50 Liquidity Risk. 51 Leverage under AIFM Directive Considerations. 51 Corporate Governance. 52 Overview . 52 Management Structure of the Fund . 52 General Shareholders Meeting . 53 Board of Nominees and the Consultative Committees . 56 The Sole Director and AIFM. 59 The Depositary of the Fund. 66 Other Aspects. 67 Financial Statements Analysis . 69 Subsequent Events . 73 Annexes Annex 1 Financial Statements for the year ended 31 December 2020,
    [Show full text]
  • Q1 2020 Results Conference Call
    Fondul Proprietatea – Q1 2020 Results Conference Call 17 May 2021 This material is intended solely for the recipient and should not be reproduced, copied or re-transmitted. Not for public use. Fund Information The Fund – Key Facts FP Adjusted Share Price6 (RON) vs. Fund Details1 Discount/Premium (%) Fund Details1 RON USD 1.77 8% 2 NAV 10.47 bn 2.58 bn 1.59 0% NAV/Share 1.7578 0.43272 1.41 -8% Price/Share 1.6960 0.41752 1.23 -16% Price/GDR 84.492 20.80 Market Capitalization as at 14 May 2021 10.72 bn 2.64 bn3 1.05 -24% Discount/Premium per Share as at 14 May 2021 (0.69)% 0.87 -32% Discount/Premium per GDR as at 14 May 2021 2.56% 0.69 -40% Number of Paid Shares less Treasury Shares4 5,943,575,222 0.51 -48% Investment Objective 0.33 -56% 2020 FY Dividend/Share5 RON 0.0720 Dividend Yield for 2020 FY5 3.99% 0.15 -64% 1/11 2/12 2/13 2/14 3/15 3/16 3/17 4/18 4/19 5/20 5/21 Maximization of returns to shareholders and increase of the net asset value per share via investments mainly in Romanian equities and equity-linked securities Adjusted Share Price (RON) Discount / Premium (%) Source: BVB, FP April 2021 Factsheet. 1. As at 29 April 2021. Based on local regulator methodology. 2. Computed using the NBR USD/RON FX rate as at 29 April 2021. 3. Excluding Treasury shares and the equivalent number of shares corresponding to the GDRs, repurchased as at 14 May 2021.
    [Show full text]
  • Accelerated Bookbuild Offering of OMV Petrom S.A
    ________________________________________________________________________________________________________ To: Bucharest Stock Exchange Report date: Financial Supervisory Authority 15 September 2020 London Stock Exchange Name of the issuing entity: Current report according to Article 99 (s) of the Code of the Bucharest Stock Exchange Market Operator, Title Fondul Proprietatea S.A. II, Issuers and Financial Instruments NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN Registered office: PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER 78-80 Buzesti Street JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT th NOTICE AT THE END OF THIS ANNOUNCEMENT. 7 floor, district 1, Bucharest, 011017 THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) NO. Phone/fax number: 596/2014. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW Tel.: + 40 21 200 9600 CONSIDERED TO BE IN THE PUBLIC DOMAIN. Fax: + 40 21 200 9631 Email: Important events to be reported: [email protected] Internet: Accelerated bookbuild offering of a base deal of minimum approximately www.fondulproprietatea.ro Sole Registration Code 1.4 billion existing shares in OMV Petrom S.A. with the Trade Register Office: Franklin Templeton Investment Management Ltd. United Kingdom Bucharest 18253260 Branch, in its capacity as Investment Manager of Fondul Proprietatea S.A. (the Order number in the Trade "Fund") announces the launch of an accelerated bookbuild offering of a base Register: J40/21901/2005 deal of minimum approximately 1.4 billion existing shares in OMV Petrom S.A.
    [Show full text]
  • Fondul Proprietatea SA PREPARED in ACCORDANCE with LAW NO 297/2004, CNVM REGULATION NO 1/2006 and FSA NORM NO 39/2015
    Annual Sole Director’s Report For the Financial Year Ended 31 December 2016 Fondul Proprietatea SA PREPARED IN ACCORDANCE WITH LAW NO 297/2004, CNVM REGULATION NO 1/2006 AND FSA NORM NO 39/2015 (this is a translation from the official Romanian version) WorldReginfo - e9780e03-6af7-44e8-96fb-a12524a66ec3 FONDUL PROPRIETATEA SA Contents Company Information . 2 Sole Director’s Letter to Shareholders. 5 Presentation and Activity of the Fund . 14 General Information . 14 Buy-back Programmes . 21 Analysis of the Portfolio of the Fund . 23 Financial Risk Management . 38 Key Financial Highlights of the Fund . 40 Litigations and Other Contingencies . 42 Market for Securities Issued by the Fund . 44 Trading of the Fund’s Shares . 44 Distributions to Shareholders . 45 Profit appropriation proposal . 46 Corporate Governance of the Fund . 47 Overview. 47 Corporate Governance of the Fund . 47 Financial Statements Analysis . 68 Subsequent Events . 75 Annexes Annex 1 Financial Statements for the year ended 31 December 2016, prepared in accordance with the International Financial Reporting Standards as endorsed by the European Union (“IFRS”) and applying the Financial Supervisory Authority (“FSA”) Norm no. 39/ 2015, regarding the approval of the accounting regulations in accordance with IFRS, applicable to the entities authorised, regulated and supervised by FSA – Financial Investments and Instruments Sector. 77 Annex 2 Statement of Assets and Obligations of Fondul Proprietatea as at 31 December 2016, prepared in accordance with CNVM Regulation 4/2010 (Annex no.4) . 134 Annex 3 Statement of Persons Responsible . 138 Annex 4 Documents for appointment of two members of the Board of Nominees during the year ended 31 December 2016 .
    [Show full text]
  • FDI ERSTE Equity Romania in Anul 2017
    Raport privind activitatea FDI ERSTE Equity Romania in anul 2017 Draga cititorule, Erste Asset Management a elaborat in anul 2016 primul studiu din Romania, cu focus pe fondurile de investitii. Concluziile principale ale studiului Erste Asset Management releva faptul ca protectia financiara este principalul motiv pentru care romanii plaseaza bani in fondurile de investitii. Studiul releva ca pentru romani nevoia de protectie financiara este in stransa legatura cu dorinta de a avea un suport in momente neprevazute sau dificile, mai degraba decat grija fata de viitor. Mitul gresit al sumei mari de bani necesare pentru a investi, alaturi de perceptia blocarii banilor pentru o perioada lunga de timp sunt principalele bariere in calea neparticiparii intr-un fond de investitii. Despre Fondurile de Investitii s-au spus multe: ca sunt complicate, ca nu sunt pentru oricine. Putini romani, sub 5% din populatia activa a tarii, se numara printre cei care stiu exact ce este un Fond de Investitii sau cum functioneaza el. De aceea, in a doua jumatate a anului 2016 am gandit un program de educatie financiara “Romania Investeste” in care am cautat sa explicam fiecare termen, fiecare produs, fiecare mit, astfel oricine sa poata decide singur daca investitiile sunt potrivite, cand si in ce sa investeasca. Am inceput cu pagina de Facebook si apoi am lansat, la finele anului 2017, platforma www.romaniainvesteste.ro Majoritatea activitatilor desfasurate in decursul anului 2017 au fost concentrate pe educatie financiara. Astfel, am fost prezenti la evenimente precum „Emerging Funding for the Real Economy”, „Asociati in afaceri”, „Expertii alaturi de dumneavoastra”, „Banii Tai Expo 2017”, am dezvoltat parteneriatele cu cluburile de investitori din intreaga tara si am sustinut prelegeri si sesiuni stiintifice la facultatile economice din cadrul centrelor universitare: Bucuresti, Cluj, Craiova, Iasi si Oradea.
    [Show full text]
  • 2021 Annual GSM Performance Report Report on the Discount Objective Discount Objective
    Fondul Proprietatea – 20 April 2021 2021 Annual GSM Performance report Report on the Discount objective Discount objective Objective 2020 Monitoring The discount between the closing price for each trading day on the In the period 1 January – 31 December 2020, discount BSE, of the shares issued by the Fund and the latest reported NAV was higher than 15%, for both shares and GDRs, for per share at the date of calculation should be equal to or lower than at least two thirds of the trading days. However, the 15% in at least two thirds of the trading days during the reporting discount decreased from 23.69% at the beginning of period 1 January – 31 December 2020. the year to 9.71% at the end of 2020, a historical low. Discount Evolution Discount at the Start of the Average for the Discount Range for the Reporting Period – Discount as at Reporting Period Reporting Period 3 January 2020 31 December 2020 3 January – 31 December 2020 3 January – 31 December 2020 23.69% 9.71% 21.06% 39.96% – 9.71% Source: Fondul Proprietatea Report. Note: The discount is calculated based on the latest published NAV/share at the date of the calculation. 3 FP share price and Discount evolution FP Adjusted share price (RON) and Discount (%) 1.5000 43% 1.3800 35% 1.2600 28% 1.1400 21% 1.0200 14% 0.9000 7% 1/20 2/20 3/20 4/20 5/20 6/20 7/20 7/20 8/20 9/20 10/20 11/20 12/20 Discount (%) Adjusted share price (RON) Source: BVB, Bloomberg, for the period 3 January – 31 December 2020.
    [Show full text]
  • Prospectus for Listing
    S.C. FONDUL PROPRIETATEA S.A. a joint stock company registered in Romania under no. J40/21901/2005 managed by Franklin Templeton Investment Management Limited, United Kingdom Bucharest Branch PROSPECTUS FOR LISTING ON THE SPOT REGULATED MARKET MANAGED BY THE BUCHAREST STOCK EXCHANGE Lead Manager RAIFFEISEN CAPITAL & INVESTMENT Manager Manager ING BANK N.V. AMSTERDAM, BRD BUCHAREST BRANCH GROUPE SOCIETE GENERALE Legal advisor to the Consortium SCHOENHERR ŞI ASOCIA łII Prospectus Date: 2 December 2010 THE AUTHORIZATION ENDORSEMENT ON THE LISTING PROSPECTUS SHALL NOT BE CONSTRUCTED AS A GUARANTEE NOR REPRESENTS OTHER FORM OF APPRECIATION BY THE NSC WITH RESPECT TO THE OPPORTUNITY, ADVANTAGES OR DISADVANTAGES, PROFIT OR RISKS THAT MAY BE IMPLIED BY THE TRANSACTIONS TO BE ON THE BUCHAREST STOCK EXCHANGE SUBJECT TO THE AUTHORIZATION DECISION; THE AUTHORIZATION DECISION CERTIFIES ONLY THE COMPLIANCE OF THE PROSPECTUS WITH THE LEGAL REQUIREMENTS AND THE NORMS ADOPTED FOR THE APPLICATION THEREOF. (This page was deliberately left blank) TABLE OF CONTENTS 1 DEFINITIONS AND CONSTRUCTION ................................................................................... 1 1.1 Definitions ............................................................................................................................... 1 1.2 Construction............................................................................................................................. 5 2 SUMMARY OF THE PROSPECTUS .......................................................................................
    [Show full text]
  • The Registration for the First Real-Life Trading
    PRESS RELEASE September 21, 2016 THE REGISTRATION FOR THE FIRST REAL-LIFE TRADING COMPETITION AT BVB, CONDUS DE RANDAMENT, STARTED TODAY Bucharest Stock Exchange (BVB) has launched the first real trading competition in Romania called Condus de Randament (Driven by Return). The registration started today and the competition will begin on October 17th, 2016 and end on February 17th, 2017, using the mechanisms and rules of trading on the Bucharest Stock Exchange. The goal for the participants is to gain the highest return on their portfolio. Raiffeisen Bank is BVB’s Main Partner to this project. The return on the investment of the competition participants will be calculated by taking into consideration trades done with shares of one or more of 25 listed companies, which are included in the BET-XT index, namely: Albalact (ALBZ), Antibiotice Iasi (ATB), Banca Comerciala Carpatica (BCC), BRD – Groupe Societe Generale (BRD), BRK Financial Group (BRK), Bursa de Valori Bucuresti (BVB), Conpet (COTE), Societatea Electrica (EL), Electromagnetica (ELMA), Fondul Proprietatea (FP), IAR Brasov (IARV), Impact (IMP), Romcab (MCAB), Romcarbon (ROCE), SIF Banat Crisana (SIF1), SIF Moldova (SIF2), SIF Transilvania (SIF3), SIF Muntenia (SIF4), SIF Oltenia (SIF5), Romgaz (SNG), Nuclearelectrica (SNN), OMV Petrom (SNP), Transelectrica (TEL),Transgaz (TGN) and Banca Transilvania (TLV). There is no minimum investment required in order to enter the competition. Therefore, the participants are free to apply the investment strategy of their choice, as long as they
    [Show full text]
  • FP Prospect RO -FINAL Aprobat CNVM In
    S.C. FONDUL PROPRIETATEA S.A. societate pe actiuni inregistrata in Romania cu nr. J40/21901/2005 administrata de Franklin Templeton Investment Management Limited, United Kingdom Sucursala Bucuresti PROSPECT IN VEDEREA ADMITERII LA TRANZACTIONARE PE PIATA REGLEMENTATA LA VEDERE ADMINISTRATA DE BURSA DE VALORI BUCURESTI Lead Manager RAIFFEISEN CAPITAL & INVESTMENT Manager Manager ING BANK N.V. AMSTERDAM, BRD SUCURSALA BUCURESTI GROUPE SOCIETE GENERALE Consultantul juridic al Consortiului SCHOENHERR SI ASOCIATII Data Prospectului: 2 decembrie 2010 VIZA DE APROBARE APLICATA PE ACEST PROSPECT NU ARE VALOARE DE GARANTIE SI NICI NU REPREZINTA O ALTA FORMA DE APRECIERE A COMISIEI NATIONALE A VALORILOR MOBILIARE CU PRIVIRE LA OPORTUNITATEA, AVANTAJELE SAU DEZAVANTAJELE, PROFITUL ORI RISCURILE PE CARE LE-AR PUTEA PREZENTA TRANZACTIILE CARE VOR FI INCHEIATE CA URMARE A ADMITERII LA TRANZACTIONARE A ACTIUNILOR EMISE DE FOND IN BAZA DECIZIEI DE APROBARE. DECIZIA DE APROBARE CERTIFICA NUMAI REGULARITATEA PROSPECTULUI IN PRIVINTA EXIGENTELOR LEGII SI ALE NORMELOR ADOPTATE IN APLICAREA ACESTUIA. (Aceasta pagina a fost lasata libera in mod intentionat) CUPRINS 1 DEFINITII SI INTERPRETARE................................................................................................ 1 1.1 Definitii ................................................................................................................................. 1 1.2 Interpretare ...........................................................................................................................
    [Show full text]
  • Romania: Property Management Fund FP to Sell Its Stake in Transelectrica
    Romania: Property management fund FP to sell its stake in Transelectrica Fondul Proprietatea (FP) will sell its entire stake held in Transelectrica using the same method of accelerated private placement, through which has sold important packages of securities from its portfolio. Franklin Templeton is in an accelerated campaign to sell its assets. A “de facto” end of FP is gaining speed. Franklin Templeton Investment Management Limited United Kingdom, Bucharest Branch, as Sole Administrator of FP, “wishes to inform shareholders and investors of its intention” to sell a total of 9,895,212 shares to which it currently holds Transelectrica (TEL) Stock Exchange (BSE). The package consists of 13.499% of the company and is everything that FP has in the national transport operator for electricity. The sale will be made through an accelerated private placement offering, addressed only to certain investors. Raiffeisen Bank and UniCredit will act as Joint Global Co-ordinators and Joint Bookrunners (“bookrunners”). SSIF Broker Cluj Napoca will act as Joint Lead Manager. A further announcement will be made on completion of the placement and pricing of private placement. Soon, the transfers of assets from FP to its shareholders will reach one billion euro, a quarter of the money the Government boast almost 10 years ago, that he would give through the Fund to owners of properties confiscated by the communist regime before 1990. The difference with the plan agreed 10 years ago is that the wealth of FP will not reach most of the owners affected, but to big U.S. venture investment funds and institutional investors who are shareholders of FP in Romania.
    [Show full text]
  • 10 Years of Great Achievements for Fondul
    T e l : + FOR IMMEDIATE DISTRIBUTION: 25 January 2021 4 0 ( 0 ) 2 10 YEARS OF GREAT ACHIEVEMENTS FOR FONDUL PROPRIETATEA 1 2 SINCE ITS LISTING ON BVB 0 0 9 6 0 0 Bucharest, 25 January 2021– Fondul Proprietatea (“the Fund”) celebrates the tenth anniversary of its listing on F the Bucharest Stock Exchange. The decade marks a period in which Fondul Proprietatea has contributed a x enormously to the development of the Romanian capital market, improving continuously the corporate : governance standards in SOEs and making constant efforts to create value for its shareholders. + 4 0 Commenting on this key milestone, Piotr Rymaszewski, Chairman of Board of Nominees of Fondul ( Proprietatea said: “The Board of Nominees commends the efforts of Franklin Templeton as Fund Manager of 0 ) Fondul Proprietatea over the past 10 years. The Fund has not only generated excellent returns for its 2 shareholders, but has also, under the professional and diligent stewardship of the Fund Manager, made a 1 significant contribution to the development of the capital market in Romania. The Fund Manager's efforts to 2 0 improve corporate governance and transparency at its investee companies have had a very positive effect on 0 the local equity market. The Fund's Board of Nominees, in cooperation with the Fund Manager, has led the way 9 6 in this regard and it continues to believe that this unwavering focus will benefit all stakeholders well into the 3 future.” 1 Commenting on the 10-year anniversary, Manraj Sekhon, Chief Investment Officer, Franklin Templeton Emerging Markets Equity said: “Fondul Proprietatea has proven to be a great success story for Romania, the Fund’s diverse range of partners, and Franklin Templeton as the manager.
    [Show full text]
  • Fondul Proprietatea SA
    Fondul Proprietatea SA Quarterly Report For the Quarter Ended 31 March 2021 This is a translation from the official Romanian version. Fondul Proprietatea SA Contents List of Abbreviations . 2 Overview . 3 Analysis of the Fund’s Activity . 6 Regulated Stock Market Trading. 6 Management and Governance of the Fund . 7 Performance Objectives. 7 GDR Facility. 9 Investor Relations. 9 Buy-back Programmes. 9 General Shareholders Meeting Resolutions in the First Quarter of 2021 . 12 Impact of COVID-19 Pandemic on the Fund’s Activity. 12 Regulatory Updates. 13 NAV Analysis and Portfolio Evolution . 16 NAV Methodology and NAV Evolution . 16 Investment Strategy and Portfolio Analysis . 17 Energy Sector Updates . 18 Update on the Largest 10 Portfolio Holdings . 20 Financial Statements Analysis . 25 Subsequent Events . 29 Annexes Annex 1 Condensed Interim Financial Statements for the three-month period ended 31 March 2021, prepared in accordance with IAS 34 Interim Financial Reporting and applying the FSA Norm no. 39/ 2015, regarding the approval of the accounting regulations in accordance with IFRS, applicable to the entities authorised, regulated and supervised by the FSA – Financial Investments and Instruments Sector Annex 2 Statement of Assets and Obligations of Fondul Proprietatea SA as at 31 March 2021, prepared in accordance with CNVM Regulation 4/2010 (Annex no. 4) Fondul Proprietatea SA Quarterly Report for the quarter ended 31 March 2021 1 Fondul Proprietatea SA List of Abbreviations AIF Alternative Investment Fund Romanian Law no. 243/2019
    [Show full text]