Ashurst advised Jefferies International Ltd as the sole UK financial adviser to Fondul Proprietatea S.A. ("Fondul"), the Romanian closed-end fund, in relation to the admission to trading on the Specialist Fund Market of the London Stock Exchange of Global Depositary Receipts representing interests in the Fondul's shares.

Fondul, the world's fifth largest closed-end fund, consists of a portfolio of Romanian equity securities with assets of over €2.9 billion and has been listed on the Bucharest Stock Exchange since January 2011.

The Ashurst team was led by corporate partner Jonathan Parry, assisted by senior associate Jeffrey Johnson and associate Marianna Kennedy. Counsel Caroline Chambers also assisted on the deal.