Investment funds and asset management market in Poland, edition 2021
After multiple years of stagnation, the asset management sector experienced solid growth in H1 2021. Total assets* increased to PLN 702 billion in H1 2021 driven by favourable performance, a few consecutive quarters of positive inflows and an extra boost provided by the launch of new 3rd pillar vehicles (PPK).
The outlook
Overall assets under management in Poland are expected to grow steadily in 2022 and in following years while negative real interest rates, which are likely to persist, will further benefit investments linked to capital markets relative to no interest bank deposits. Besides investment funds, which are gaining interest of retail investors, it is also the 3rd pillar pension segment which will experience significant new flows with defined contributions driving AuM over initial years of the programme.
* Across key categories: Investment funds, Insurance assets, Pension assets (2nd and 3rd pillar); Excluded are bank and structured deposits, equities and bonds held directly by private individuals
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Table of contents
1. Executive Summary
2. Asset Management Market
Slide 1: Asset management market in Poland: Key Segments, 2021 H1
Slide 2: Assets under management evolution, 2017-2021 H1
Slide 3: Top asset managers (groups) by AuM, 2021 H1
3. Investment Funds
Slide 4: CEE 8 Investment fund industry – size vs. growth matrix, 2018-2021 H1
Slide 5: CEE investment funds penetration benchmarks, 2021 H1
Slide 6: Evolution of assets, number of funds & managers 2016-2021 H1
Slide 7: Fund assets by type of fund (open-end, closed), 2016-2021 H1
Slide 8: Fund assets by type of fund (public/non-public assets), 2016-2021 H1
Slide 9: Fund assets by underlying asset mix, 2018-2021 H1
Slide 10: Top 10 players in investment fund market, 2021 H1
Slide 11: Market share evolution of top fund managers, 2019-2021 H1
Slide 12: Distribution – online distribution platforms, 2021
Slide 13: Investment fund assets flows, 2018Q1-2021 Q2
Slide 14: Fund assets structure – by declared investment profile, 2021 H1
Slide 15: Ownership of funds by groups (retail/financial/other), 2016-2021 Q1
Slide 16: Local funds invested in foreign assets and foreign funds, 2021 H1
Slide 17: Assets of foreign funds, 2016-2020
Slide 18: Fees and commissions charged by top fund managers, 2021 Q3
Slide 19: Revenues and costs of fund managers, 2020
Slide 20: Profitability tree for fund managers, 2017-2020
Slide 21: Regulations: The new fixed fund management fee cap
Slide 22: Top players' profiles - Ipopema TFI
Slide 23: Top players' profiles - PKO TFI
Slide 24: Top players' profiles - PZU TFI
Slide 25: Top players' profiles - Pekao TFI
Slide 26: Top players' profiles – NN IP TFI
Slide 27: M&A transactions including fund managers in Poland, 2010-2016
Slide 28: M&A transactions, 2017-2019
4. Pension Funds
Slide 29: Composition of the pension sector in Poland
Slide 30: Pillar II: Assets, members, average account value, 2017-2021 H1
Slide 31: Pillar II: Pension top asset managers, 2021 H1
Slide 32: Pillar II: Pension managers profitability tree, 2017-2020
Slide 33: Pillar III (Voluntary) - Assets, members, 2018-2021 H1
Slide 34: Pillar III – New regulations - PPK (3rd pillar) vehicles
5. Insurance Assets
Slide 35: Technical reserves by type evolution, 2016-2021 H1
Slide 36: Technical reserves by segment and by company, 2020
Slide 37: Profitability of life insurers, 2016-2020
Slide 38: Profitability of non-life insurers, 2016-2020
6. Forecasts
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Slide 39: Asset Management Market: Mid-term forecast: investment fund
assets, pension assets (p2, p3), insurance investments, 2021-2023"
7. Notes on methodology
End of report.
Investment funds and asset management market in Poland, 2021