Mark Gitenstein will oversee the activity of the Proprietatea Fund's manager

By Decision no. 13/April 23, 2013, the Representatives Committee decided the appointment of Mr. Mark Henry Gitenstein as temporary member. The appointment will take effect from the date of registration in the Trade Register. Franklin Templeton Investment Management Limited United Kingdom, Bucharest Branch, as sole Administrator and the Fund's investment management, informs that Mr. Cristian Busu resigned on April 19, 2013 from the position of member of the Representatives Committee of the Fund. The resignation was communicated to the Fund on April 22, 2013, the date on which it became effective", it is said in a statement of the Fund.
The Representatives Committee oversees the work of the Fund's manager, the american company Franklin Templeton.

Fondul Proprietatea is a joint stock company operating as a closed-end investment company without a set lifetime, incorporated in Romania, trading on the Bucharest Stock Exchange since January 2011. The Fund was established by the Romanian Government in 2005 and eligible claimants who lost property under former communist governments were awarded shares in the Fund in lieu of compensation.

Source: HotNews.ro