Franklin Templeton has withdrawn from the selection process for the new administrator of Fondul Proprietatea, citing disagreements over the evaluation of its bid

Franklin Templeton International Services (FTIS) withdrew its candidacy on Wednesday from the selection process for appointing a new administrator of Fondul Proprietatea, after challenging the way the Representatives Committee evaluated its bid.

The company says it identified significant differences between its own analysis and the score awarded by the committee. FTIS requested clarifications regarding the scoring grid and evaluation methodology, but says it did not receive the additional information requested.

The withdrawal does not change Franklin Templeton’s current mandate, under which it will continue to manage Fondul Proprietatea until April 1, 2027. The company announced that it will support the transfer of responsibilities to the Fund’s new Sole Administrator.

Franklin Templeton has managed Fondul Proprietatea for approximately 16 years. During this period, the company says it generated a total shareholder return of 1,011% in U.S. dollars and 1,536% in Romanian lei, through June 30, 2026. It also carried out nearly 50 transactions, with a combined value of approximately $4.3 billion, including the listing of Hidroelectrica.

According to the company, the Fund’s shareholders received RON 29.2 billion through dividends, capital returns and share buyback programs. The transition to the new administrator will take place after the selection process is completed.