The asset management sector in Poland to grow 25% by 2013

July 27, 2011 - PRLog -- “The asset management sector in Poland, worth 447 billion PLN (US$151 billion) as of 2010, will grow by more than 25% until 2013. Even despite the recently passed unfortunate pension reform, which resulted in a 70% reduction in contributions received by II pillar pension managers and sluggish inflows into investment funds, the future outlook for the whole asset management sector is still positive. The asset management sector is defined as pension, insurance and investment fund assets,” explained Marcin Mazurek, Director of Intelace Research, a consulting company specializing in CEE financial-markets research.

During 2010/1H2011, the asset management (AM) sector continued its recovery from the 2008/2009 crisis. All its major segments—pension, insurance and investment fund assets—kept increasing thanks to positive new asset flows and favorable stock market trends. As of 1H2011, total AuM (assets under management) in the three key AM segments amounted to 467 billion PLN (117 billion EUR). With almost 237 billion PLN or a 51% share, assets of pension funds constituted the largest part of the AM sector in Poland. Two remaining segments—investment funds and insurance assets—contributed approximately 25% each. Aviva, ING and PZU group were the top asset managers in terms of assets under management, and held a combined 48% of the entire AM market.
Intelace Research expects that AuM will keep growing across all three main categories, advancing by more than 25% during 2010–2013. While the historically high growth rates of pension assets are likely to go down significantly, we expect insurance assets to accelerate, driven by new sales of unit-linked products. Investment fund assets may experience slow growth since their own sales networks are limited, and most third-party distributors prefer to push high-margin insurance products rather than low-commission investment funds.
For more information on recent developments in the Polish asset management market, please refer to the publication "ASSET MANAGEMENT MARKET IN POLAND 2011–2013," available at: www.intelace.com/publications.html