At the end of November, the assets of Polish investment funds reached a historic high of 314.99 billion PLN. Thus, they have increased by 45.6 billion PLN since the beginning of the year, and in November alone they rose by nearly 7 billion PLN. The all-time record of “active” assets was achieved by both net investor inflows and a positive outcome in fund management.
At the beginning of January 2023, investment funds held 266.3 billion PLN. Since then, this amount has increased by over 18 percent. The assets of debt funds grew the most (25 billion PLN), but the increase in PPK (Employee Capital Plans) also looks very good (increase of 7.45 billion PLN). In November of this year, fund assets increased by another nearly 7 billion PLN, with debt funds dominating with an increase of over 3.2 billion PLN.
Of course, the all-time record was influenced by the net inflow to funds. In November, for the eleventh time, a positive sales balance was recorded. The surplus inflow amounted to 2.8 billion PLN, of which 2.4 billion PLN went to retail funds and 0.4 billion PLN to PPK funds. Investors made the most significant contributions to debt funds for 11 consecutive months.
Additionally, the excellent investment results of almost all categories of investment funds this year should be noted. The only remarkable exceptions are Asian equities excluding Japan and commodities. All other funds are in the black and quite significantly. At the top are MIŚ Polish equity funds (+ 29.1 percent) and universal funds (+ 28.5 percent YTD). American equities (+ 16.2 percent YTD) and developed global market equities (+ 13.0 percent) also performed well. We must not forget about the good results of debt funds in virtually all categories.
The combination of a robust equity and debt market, excellent rates of return, and high net inflows from investors led to the highest level of assets in the history of Polish investment funds. Given the optimistic outlook for 2024, the “active” ATH can be expected to go even higher. We also hope for an ATH in terms of performance.
Author: Szymon Gil, Security Broker, Certified International Investment Analyst (CIIA) Michael / Ström Dom Maklerski.
