Romania’s Property Restitution Fund Appoints U.S. Franklin Templeton Investments as Manager - Media

Franklin Templeton Investments was selected manager of Fondul Proprietatea in early July, after it outbid Morgan Stanley Investment Management.

Franklin Templeton Investments has said it plans to list the fund on the bourse next year, Mediafax (www.mediafax.ro) reported, quoting an unnamed Fondul Proprietatea shareholder.

The Proprietatea fund, set up in 2005, was designed to compensate pre-communist owners whose property can not be restored in its original form. It held stakes in 88 companies from the banking, energy, telecommunications, utility and other industries at the end of last year.

Franklin Templeton Investments have offices in over 30 countries around the world and offer investment solutions and services in more than 150. The company manages investment vehicles for individuals, institutions, pension plans, trusts, partnerships and other clients.