OFE assets down by 3.2% in May

The net assets of the Polish private pension fund (OFE) amounted to some PLN 162.3 billion in May a 3.2 percent month-on-month decrease, according to a report issued by researcher Analizy Online. “In contrast to the previous, record-high year, 2018 is not particularly generous for future retirees, which is due to the weaker resilience of the domestic market to global phenomena and the limited diversification of the pension fund portfolio,” the report said. The May loss was mostly caused by the price declines on the Warsaw Stock Exchange. “Polish equities covers 80 percent of OFE portfolios which makes it difficult to avoid losses in the face of price drops,” the report concluded.