Investments

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The Fund's investment objective is long term capital appreciation via investments primarily in Romanian equities with strict adherence to the principles of value investing. The portfolio is heavily weighted in the Power, Oil and Gas sectors (approximately 79% of NAV) through a number of listed and unlisted, privately-held and State-controlled entities.

This section gives you an overview on the Fund's portfolio and on the evolution of the monthly Net Asset Value/ share.

Portfolio Sector Breakdown As of 31 July 2019

[name] [value]
Electricity: generation 40.10%
Oil & Gas 21.60%
Electricity & Gas: distribution, supply 16.99%
Infrastructure 11.28%
Heavy Industry 2.76%
Aluminium 1.65%
Others 0.21%
Net Cash and receivables* 5.41%

*Net cash and receivables includes bank deposits, current bank accounts, short-term Government securities, dividend receivables, as well as other receivables and assets, net of all liabilities (including liabilities to shareholders related to the returns of capital and dividend distribution) and provisions.

Investments

Share / GDR Price Information

NAV/share (RON) 1.5389*
Share Price (RON) 1.1050**
Discount -28.20%
NAV/share (USD) 0.3624*
GDR Price (USD) 12.80**
Discount -29.36%

*This is the NAV / share as at 31 July 2019.

**Trading data 15 min delay.