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 (84% 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 BreakdownAs of 31 May 2022

[name] [value]
Electricity: generation 71.00%
Electricity & Gas: distribution, supply 7.82%
Infrastructure 6.53%
Oil & Gas 4.89%
Heavy Industry 1.52%
Aluminium 0.64%
Others 0.17%
Net Cash and receivables* 7.43%

Portfolio Structure - by Asset Typeas of 31 May 2022

[name] [value]
Listed Equities 5.89%
Unlisted Equities 86.68%
Net Cash and receivables* 7.43%
NAV/share (RON) 2.5855*
Share Price (RON) 2.0950**
Discount -18.97%
NAV/share (USD) 0.5616*
GDR Price (USD) 21.40**
Discount -23.79%