OFE assets up by 5.4% in July

The net assets of the Polish private pension fund (OFE) amounted to some PLN 166.9 billion in July a 5.4 percent month-on-month decrease, according to a report issued by researcher Analizy Online. In the last 12 months, however, OFE assets decreased by 3.1 percent. Last month, the average return rate was 5.8 percent. “The results of pension funds in the first half of this year were below expectations. The second half of the year begins much more optimistically. It results, among others, from positive forecasts for the Polish economy regarding the expected GDP growth, but also current results of industrial production or retail sales,” the report said. Overall, the value of assets under management increased by PLN 8.6 billion.