Loading ...U.S. fund managing companies Franklin Templeton and Morgan Stanley are short-listed to manage the Property Fund’s assets worth 3 billion euros, the Ziarul financiar daily informs.
Franklin Templeton managing over 400 billion euros has displayed interest in Romania since it was analyzing the local Stock Exchange two years ago. Early this year, Templeton held about 6 million shares of Petrom and 20,000 of the Banca Romana de Dezvoltare (BRD), the newspaper reads on, citing market data as saying.
Vying in the selection Morgan Stanley owning assets worth over 400 billion euros is exploring the local market again after, in spring, it has stepped out from among the shareholders of the HTI Valori Mobiliare (HTI Securities), one of the largest independent brokerage firms on the Romanian market.
It was also on Morgan Stanley team that the listing of RCS&RDS telephony and Internet operator, a failed transaction worth two billion euros, depended, the Ziarul financ iar reads on.
The winner will be the company to propose the lowest management commission and it is expected to be announced late next week, at the earliest, and by June 15 at the latest, market sources says.
The winner will be the company to propose the lowest management commission and it is expected to be announced late next week, at the earliest, and by June 15 at the latest, market sources says.
While, during the first stage of the selection, the Commission has been analyzing the local experience of the candidates, and their technical capacity to manage the Fund’s assets, in the second, the last stage is to analyze the financial bidding, the Ziarul financiar concluded quoting the head of the Selection Commission Enache Jiru as saying.
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