14:21 16 August 2025
Foreign Investors Reap Warsaw Stock Exchange Rally, While Poles Stick to Bonds
A nearly three–year bull market has lifted the Warsaw Stock Exchange (WSE) to historic highs, but Polish households remain largely absent from the rally. Since autumn 2022, the broad WIG index has surged from 45,000 to over 110,000 points, a 2.5–fold increase. Yet individual investors account for only a small fraction of trading, with most gains captured by foreign funds and Poland’s state–backed PPK pension schemes.
“Polish investors continue to withdraw capital, even as stocks soar. This rally is almost entirely driven by foreign capital,” Tomasz Korab, CEO of EQUES Investment TFI, said.
He noted that Poles are wary after years of modest returns, with the WIG index averaging just above 6 percent annually over two decades.
Instead, Poles are pouring record sums into government bonds. In July alone, households bought over PLN 8.2 billion of retail bonds, while nearly PLN 6 billion flowed into investment funds – overwhelmingly debt–focused.
(Newseria)
