Epoka shareholders vote to be managed by Pekao/Alliance

The shareholders of PTE Epoka pension fund decided that the fund would be administered by Pekao/Alliance PTE pension fund last Tuesday. A general shareholders' meeting of Pekao/Alliance PTE is soon to take place and the change over of Epoka is slated to be finalized then. It will be the first transaction of this type on the market. The president of Pekao/Alliance PTE, Tomasz Bankowski said by Sept. 15 the fund would file a motion to the Pension Funds Supervisory Office (UNFE) requesting permission. The value of the transaction has not been established yet however it is rumored to be lower than half of the share capital value of PTE Epoka. After the recent increase of the fund's capital its value now stands at zl. 76.5 million. According to UNFE data Epoka has over 50,000 clients and Pekao/Alliance over 61,000 (Rzeczpospolita, Sept 9-10, page B2)