“We encourage the Ministry of Finance to work together with the fund’s management so the general shareholder meeting can be scheduled as soon as possible to formally approve Franklin Templeton’s role as the Fund’s manager. Only then can we move to float the Fund on Bucharest Stock Exchange, which will benefit both Fund shareholder and the broader Romanian market”, said Mark Mobius, executive chairman of the Templeton Emerging Markets Team.

FP representatives said it will hold a general shareholder meeting at the end of August or early September, after the Government passed the ordinance.

Fondul Proprietatea will be managed in Romania by the Templeton Emerging Markets Team, which manages over USD 30 billion in emerging markets equities and consists of 46 portfolio managers, analysts and products specialists located in 16 offices around the world.