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 (34% 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 August 2023

[name] [value]
Infrastructure 35.49%
Electricity & Gas: transport, distribution, supply 33.82%
Heavy Industry 9.67%
Aluminium 3.39%
Postal Services 0.64%
Others 0.42%
Net Cash and receivables* 16.57%

Portfolio Structure - by Asset Typeas of 31 August 2023

[name] [value]
Listed Equities 4.56%
Unlisted Equities 78.87%
Net Cash and receivables* 16.57%
NAV/share (RON) 0.6319*
Share Price (RON) 0.4140**
Discount -34.48%
NAV/share (USD) 0.1391*
GDR Price (USD) 4.40**
Discount -36.74%