US group Franklin Templeton, waiting to take over the managementof Fondul Proprietatea (Property Fund), one of the biggestbusinesses of Romania, with 2,8bn-euro assets, is trying topersuade the Gvt. that the listing of the fund and of otherstate-owned companies will put Romania on the map of majorinvestors and will help attract foreign investments, which shouldsolve part of the problem of funding the domestic economy. Thegroup has restated its interest in the Romanian capital market andits commitment to promote the BSE and attract foreign investors."One of the mandates we assumed at the moment we were granted themanagement of the Property Fund is to promote Romania's capitalmarket," said Mark Mobius, the executive chairman of the emergingmarket investment unit of Franklin Templeton. The group'srepresentatives state they are highly interested in the Romanianmarket, where they have recently bolstered their investments. "Ourexposure to Romania currently revolves around $20-25m and our fundsdedicated to Eastern Europe can activate $100-200m for the Romanianmarket, and we also have global funds. We are not the only onesinterested in the Romanian market, but limitations to largeinvestors have to do with the low liquidity. We're waiting forstate-owed firm floatations," said Franklin Templetonrepresentatives.
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