“If all goes well on the capital markets, the fund will be ready for listing in about one year. You must be cautious when making such a decision, so that the price of the fund’s shares is at a good level,” said David Smart, Head of the Sovereign and Supranational Funds Department of Franklin Templeton Investment (FTI).
The American company has already registered its subsidiary in Romania, through which it will manage FP, has begun recruiting staff, and is looking for an office in Bucharest.
The Romanian subsidiary will be headed by Grzegorz Konieczny, who is currently Managing Director of the firm’s operations in Poland. Konieczny, together with David Smart and Mark Mobius, the latter FTI’s General Manager, will take over the administration of the €2.6 billion assets of Fondul Proprietatea.
