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 77% 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 January 2019

[name] [value]
Electricity: generation 41.01%
Oil & Gas 18.45%
Electricity & Gas: distribution, supply 17.16%
Infrastructure 11.82%
Heavy Industry 2.80%
Aluminium 1.84%
Banks 1.69%
Net Cash and receivables* 5.01%
Others 0.22%

*Net cash and receivables includes bank deposits, current bank accounts, short-term treasury bills and bonds, 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) 1.3692*
Share Price (RON) 0.8900**
Discount -35.00%
NAV/share (USD) 0.3318*
GDR Price (USD) 10.50**
Discount -36.71%

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

**Trading data 15 min delay.