Haitong Bank, S.A. - Polish Mutual Fund Flows: Equity outflows despite positive market performance

Report

Haitong Bank, S.A.

Krzysztof Kawa

Polish Mutual Fund Flows: Equity outflows despite positive market performance

We estimate that in April total inflows to capital market funds reached PLN 1.46bn. The money market gained PLN 1.8bn and fixed income funds gained PLN 425m. This was partially offset by outflows from equity funds of PLN 352m and mixed funds of PLN 369m. Money market funds maintained their inflow momentum and in last six months have gained almost PLN 9.8bn.
We calculate Polish mutual funds sold a net PLN 454m of equities of which a net PLN 109m was sold in foreign markets and PLN 346m was sold in the Polish market. Total AuM dropped to PLN 280.5bn mainly due to outflows from dedicated funds. Due to a KNF recommendation fund flows from private closed-end investment funds are no longer included in our calculations.

PKO TFI saw the highest inflows followed by Union Investment TFI, while Quercus TFI suffered the biggest loss of assets under management.

14/05/2018 7 EN

Provider

Haitong Bank, S.A.

Haitong is the first international Chinese investment bank and our goal is to be the primary channel for capital flows into and out of China. During 2015 the Senior Management Team in London was expanded significantly to focus on this objective and to provide a full-service cross-asset markets business coupled with sector-focused investment banking. We work closely with our world-wide network of offices to bring a true depth of understanding to all client situations.

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Analysts

Krzysztof Kawa

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Polish Mutual Fund Flows: Equity outflows despite positive market performance

Polish Telecoms: Subscription model rules

Asseco Poland: Trust is good but control is better

Play Communications: PLAYing smart

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