Franklin Templeton pledges to promote the Romanian capital market

US group Franklin Templeton, waiting to take over the management of Fondul Proprietatea (Property Fund), one of the biggest businesses of Romania, with 2,8bn-euro assets, is trying to persuade the Gvt. that the listing of the fund and of other state-owned companies will put Romania on the map of major investors and will help attract foreign investments, which should solve part of the problem of funding the domestic economy. The group has restated its interest in the Romanian capital market and its commitment to promote the BSE and attract foreign investors. “One of the mandates we assumed at the moment we were granted the management of the Property Fund is to promote Romania’s capital market,” said Mark Mobius, the executive chairman of the emerging market investment unit of Franklin Templeton. The group’s representatives state they are highly interested in the Romanian market, where they have recently bolstered their investments. “Our exposure to Romania currently revolves around $20-25m and our funds dedicated to Eastern Europe can activate $100-200m for the Romanian market, and we also have global funds. We are not the only ones interested in the Romanian market, but limitations to large investors have to do with the low liquidity. We’re waiting for state-owed firm floatations,” said Franklin Templeton representatives.