Marcin Dyl, President of the Chamber of Fund and Asset Management (IZFiA)

Marcin Dyl, President of the Chamber of Fund and Asset Management (IZFiA)The investment fund market has been developing very fast during the past three years. In 2006, nearly PLN26 billion was invested in such funds, and PLN31 billion already during the first three quarters of this year. While increasingly more assets were flowing into the funds, investment fund companies were expanding the range of their products. In 2006, 78 new funds and sub-funds were established and further 58 investment products were introduced during the first three quarters of 2007. Apart from equity and mixed funds, which are the most popular ones, new investment products introduced include non-public asset funds and commodity funds. Umbrella funds are also rising in popularity.

REKLAMA

They allow investors to move the allocation of means between sub-funds without the need to pay the 19% “Belka tax” on capital earnings. Umbrella funds are now offered by nearly all the Investment Fund Companies (TFI). Investing in these funds benefits customers as well as the respective TFIs in terms of setting up new funds. Also growing in popularity are capital guarantee funds. Their number has been growing.
The prospects on the investment market are good and will probably remain so in the foreseeable future. Polish individual investors did not stop investing their resources in funds during the summer correction on stock markets when the value of units in the most popular
equity and mixed funds was declining as a result of a brief but meaningful slump in stock market ratings. This indicates that the Poles regard investments in funds as medium and long-term investments. We expect that the next months will see a further inflow of assets to investment funds and that investment fund companies will be expanding the range of investment products they offer.