EME Strategy: Polish Mutual Fund Flows – Less risky funds in favour in October (again)
In October, investors preferred less risky assets. The largest absolute inflows were seen in Polish bonds funds (+ PLN 253m), along with money market funds (+PLN 243m), followed by foreign bonds (+PLN 173m) and absolute return funds (+PLN 148m). Slight inflows were reported by Polish equities (+PLN 28m), while Polish S/M equities funds (-PLN 61m) saw outflows. Investors also withdrew money from foreign equities (-PLN 184m) and mixed (-PLN 112m) funds.Both Polish equities and foreign equities reported outflows in October, at PLN 33m and PLN 192m, respectively. We estimate that net purchases of Polish equities were negative again, but narrowed from PLN 260m in September to PLN 140m in October.
Inflows into ETFs tracking the MSCI Poland reached USD 14.7m in October vs. outflows of USD 4.2m in September.
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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