Polish Mutual Fund Flows: Equity outflows more than offset by money market inflows
We estimate that in August total inflows to capital market funds reached PLN 593m. The money market gained PLN 0.88bn, supported by the PLN 211m inflows to mixed funds. This was partially offset by outflows from equity funds of PLN 88m and absolute return funds of PLN 245m. Fixed income funds suffered PLN 111m of outflows. Despite almost PLN 0.9bn of inflows, money market funds reported their lowest inflows since September 2017.We calculate Polish mutual funds sold a net PLN 142m of equities of which a net PLN 207m was sold in foreign markets and PLN 64m was bought in the Polish market.
PKO TFI saw the highest inflows followed by Investors TFI, while Altus TFI and Trigon TFI suffered the biggest outflows.
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