Thursday, September 29, 2016

Fondul Proprietatea to begin seventh buyback program

Fondul site:

The fund has completed the sixth buyback program. During that program 8.13% of the shares of the fund were purchased. The fund will now initiate the seventh buyback program.

The fund management continues to buyback shares, which is an excellent use of capital as the shares are extremely undervalued and are currently selling at a 31.13% discount to NAV.

While the fund continues to buyback shares holders of the shares can enjoy a 5-6% dividend yield. You get paid to wait for the management to close the valuation gap.

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