EME Strategy: Polish mutual fund flows –Inflows into Polish S/M funds accelerate
In January, Polish S/M funds again enjoyed strong inflows. Money market instruments saw the largest absolute inflows (+PLN 1.4bn) last month. However, Polish equities (+PLN 177m), as well as Polish Small and Mid-Cap (+PLN 142m or c.4.9% of fund assets), also enjoyed strong interest from investors, along with foreign equities funds (+PLN 260m). Positive figures were likewise reported by mixed (+PLN 245m), Polish bonds (+PLN 279m), and foreign bonds (+PLN 255m) funds. Absolute return funds (-PLN 178m) saw outflows, however.Polish equities funds reported inflows of PLN 319m in January, while foreign ones reported a positive figure of PLN 262m. We estimate that net purchases of Polish equities reached an 11-month high (+PLN 208m) in January.
Inflows into ETFs tracking the MSCI Poland slowed from c.USD 14m in December 2017 to c.USD 11m in January 2018.
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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