Fun fact: The world’s largest closed-end fund is in… Romania? Fondul Proprietatea, which was set up in 2005 to compensate victims of the late and unlamented Ceaucescu regime, maintains over US$ 3 billion in assets. It attracts high-profile attention as well; Franklin Templeton manages the fund, and US super-investor Paul Singer just announced that he has increased his ownership stake to over 20%. In April Fondul launched a secondary listing on the London Stock Exchange in a bid to boost the profile of the much smaller Bucharest market.
