Polish Mutual Fund Flows: Positive domestic equity purchases
We estimate that in January total inflows to capital market funds reached PLN 2.45bn. The money market gained PLN 1.4bn, fixed income funds PLN 572m, mixed funds PLN 224m and equity funds gained PLN 382m. This was partially offset by outflows from absolute return funds which we assume sold PLN 164m. For the third time in a row money market funds gained more than PLN 1bn in a month.PKO TFI saw the highest inflows followed by BZ WBK TFI, while Altus TFI suffered the biggest loss of assets under management.
We calculate Polish mutual funds bought a net PLN 348m of equities of which a net PLN 123m was bought in foreign markets and PLN 225m was bought in the Polish Market. According to our estimates, January was the first month since Jul’17 with positive domestic equity purchases.
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