Franklin Templeton Investment, the American investmentmanagement giant that last year won management of the FondulProprietatea (Property Fund - FP), reasserts its commitment toRomania and the Fund, while still awaiting the Government'sapproval in order to effectively become the Fund's manager.
On Friday June 18 Templeton officials issued a press release, justtwo weeks after their previous public outing and only a few daysbefore the Chamber of Deputies votes in a plenary session thelegislative modifications that will enable Templeton to take overmanagement of the 2.9 billion euros in Fund assets.
If the Chamber of Deputies approves the amendments brought toOrdinance no. 81/2007, Templeton will be able to take overmanagement of the Fondul Proprietatea in a few months' time, andfloat the Fund on the Bucharest Stock Exchange, as well as on aninternational market.
The persistence of public statements made by the officials ofFranklin Templeton on the Fondul Proprietatea over the last fewmonths is proof of their impatience to start their managementmandate, a contract that will bring them around 13 million euros ayear.
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