EME Strategy: Polish pension fund holding data for 2017
The Polish pension funds (OFEs) released their annual holding reports last week, containing all of their portfolios. Over the past year, the OFEs’ equities allocation has risen from c.83% as of the end of 2016 to c.85% as of the end of 2017. At the same time, the share of foreign equities in OFEs’ equities portfolios fell from 8.6% as at end-2016 to 7.3% as at end-2017. The value of their equity portfolios increased from PLN 127bn to PLN 153bn over the same time period (+c.21% yoy), which was driven, among other things, by the bullish stock market (the WIG20 rose by c.26%, while the WIG gained 23%). The value of foreign equities rose from PLN 10.9bn to PLN 11.2bn over 2017, by only 3.1% yoy.
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