The official data for H1 are still to be published but the newspaper’s preliminary estimates show that in June the assets of mutual funds dropped below PLN 100 billion for the first time in two years.
June is considered to have been the second worst month for mutual funds since the beginning of the recession on WSE (Fall 2007). After several months of stabilization another wave of falls hit and the indexes dropped over 10%. Mutual funds are also weakened by competitive bank deposit offers (up to 8% interest rate) and the growing popularity of so called structured deposits.