As at the end of 2015 the assets managed by domestic mutual funds rose by nearly 20.6%. The overall mutual fund market’s assets were PLN 252.19 billion compared to 209.08 billion at the end of 2014.
Market situation
As at the end of 2015 the assets managed by domestic mutual funds rose by nearly 20.6%. The overall mutual fund market’s assets were PLN 252.19 billion compared to 209.08 billion at the end of 2014.
In 2015, the balance of public and non-public sales of solutions offered by TFI on the domestic market amounted to almost PLN 37.9 billion (according to the estimates of Analizy Online [Online Analyses]). The fast growth of the market during the recent year was largely influenced by the inflow of assets into non-public investment funds.
Taking into account the share of the market available to a broader range of recipients, domestic investors in 2015 were most likely to invest in stock funds as well as absolute rate of return funds.
Fund management companies — share in assets a at 31.12.2015 (%)
Source: PFSA, Monthly data on OPF market, December 2015
As a result of the trends described above, the Polish investment fund market has experienced a change in the structure of assets. Non-public asset, capital protection, and absolute rate of return funds are amongst the ones which have recorded the greatest growth dynamics.
Activities of TFI PZU
TFI PZU operates on the mutual fund market on behalf of the PZU Group. At the end of December 2015 TFI PZU had accumulated a net asset value of PLN 28,303.3 million, signifying more than 10.8% growth compared to the previous year.
TFI PZU operates on the mutual fund market on behalf of the PZU Group. At the end of December 2015 TFI PZU had accumulated a net asset value of PLN 28,303.3 million, signifying more than 10.8% growth compared to the previous year. It offers products and services to both mass market and institutional customers, including additional investment/ savings programs within pillar III of the social insurance system, including Individual Pension Account (IKE), Specialized investment programs, Employee Pension Programs (EPP) and Corporate Investment Programs (ZPI).
TFI PZU net assets (PLN billion)
Source: Analizy Online
At the end of 2015, TFI PZU had 25 funds and sub-funds in its portfolio, of which 19 were also offered to clients from outside PZU Group.
As of the end of December 2015, TFI PZU gathered net assets valued at PLN 28,303.3 million, 10.8% more than at the end of 2014. This makes TFI PZU one of the biggest Investment Funds in Poland, in second place at the end of the year according to the joint report of Analizy Online and IZFiA. TFI PZU is also the leader in the segment of employee pension programs among all institutions operating on this market (not only investment funds), accumulating assets worth more than PLN 3.2 billion at the end of last year.
Rates of return of TFI PZU investment funds in 2015 (%)
Source: Analizy Online
In 2015, TFI PZU’s assets grew primarily due to:
- active sales of funds and sub-funds;
- further development of the distribution network;
- introduction of new Employee Pension Programs;
- investment results generated by the fund managers.
Factors, including risks and dangers, which will impact the activities of investment funds in 2016
The condition and results of the investment fund market will primarily depend on:
- operations of central banks;
- economic climate on capital markets (including the prices of raw materials);
- attractiveness of traditional bank deposits and profitability of instruments.
- establishing a model for offsetting among the funds on the Polish market.