OFEs interest in bonds soars in October

Polish pension funds (OFEs) increased their fixed income allocation by 7.6 percent m/m, putting it at 8.5 percent, Financial Market Authority (KNF) data showed. The bulk of it was spent on local government bonds (up by 10.1 percent m/m) and covered bonds (52 percent m/m). Equities, which at end-October represented 86 percent of assets under management (AuM) inched down by 0.6 percent m/m.

Overall, AuM of OFEs at end-October were worth PLN 180.24 billion.

Cash holdings decreased by 12.6 percent m/m to PLN 9.98 bln, mostly due to an excess of the net outflows caused by the lower retirement age.

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