Polish Mutual Fund Flows: First month of negative total flows
We estimate that in June total outflows to capital market funds reached PLN 541m. The money market gained PLN 1.3bn which was more than offset by outflows from equity funds of PLN 598m and fixed income funds of PLN 515m. Absolute return funds suffered PLN 672m of outflows. Money market funds maintained their inflow momentum and in last six months have gained almost PLN 10.25bn.We calculate Polish mutual funds sold a net PLN 905m of equities of which a net PLN 727m was sold in foreign markets and PLN 178m was sold in the Polish market. Total AuM decreased to PLN 279.9bn, also due to outflows from dedicated funds.
Investors TFI saw the highest inflows followed by PKO TFI, while Altus TFI and Trigon TFI suffered the biggest outflows.
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