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World's biggest currency fund found 5m euros for Fondul Proprietatea

Autor: Roxana Pricop

03.03.2011, 09:19 16

The world's largest money manager, BlackRock, with assets undermanagement worth 3,500bn dollars (2,500bn euros), invested 5m euroson the Romanian stock market through an investment fund dedicatedto frontier markets, being attracted by Fondul Proprietatea(Property Fund - FP).

With 106m-euro assets, BlackRock Frontiers equity fund has anexposure of 5.1% of assets to the Romanian market, according to themonthly report issued by the manager.

Though the manager only details the fund's ten largestinterests, Romania has a special paragraph dedicated to it in thepresentation to investors.

Since FP floatation one month ago, BlackRock has been the firstmajor name in global finance to announce its arrival in Romania. In2009, the US giant qualified on the shortlist of five contendersfor FP management.

Together with Franklin Templeton, BlackRock is among the fewwinners of the financial crisis.

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