POLISH PENSION FUND FLOWS: Another month of falls in AuM
In March, we estimate Polish pension funds bought a net PLN 409m of equities, of which PLN 163m was sold in the Polish market and PLN 572m was bought in foreign markets.The average monthly rate of return amounted to -4.7% due to the poor performance of Polish and foreign equities. As a result, OFEs’ AuM decreased for a second month in a row to PLN 165.7bn. In 1Q18 OFEs’ AuM decreased by 7.7%, resulting in a PLN 13.7bn fall.
In March, NN OFE was the most active in buying stocks, while Metlife OFE was the most visible net seller of equities. Eventually, OFEs’ equity allocation decreased to 84.9%.
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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