EME Strategy: OFEs’ 2022 annual holdings
On 13 January, the Polish pension funds (OFEs) released their annual holding reports. In 2022, OFEs’ equities allocation was reduced 3ppt to 88%, due mainly to the underperformance of the equities markets vs. the bond market. Despite outperforming the Polish equities, foreign equities continue to represent c.12% of the total AUM, as the OFEs seem to have rotated the comparative gains into Polish equities, perhaps recognising an unwarranted spread between the domestic and international equity markets.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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