OFEs increase Polish equity allocation to record-high levels

Polish pension funds (OFEs) increased their Polish equity allocation to a 113 basis points m/m increase, putting it at 79.7 percent, the highest level since May 2015, Financial Market Authority (KNF) data showed. Its value increased by 6.2 percent to PLN 139.34 billion, slightly below the WIG 6.4 percent gain in April. Foreign equities amounted to 6.4 percent assets under management (AuM). Overall, equities represented 86.1 percent AuM, while bonds stood at 8.1 percent AuM (35 bps drop m/m), and cash at 5.7 percent (56 bps drop). Overall, AuM of OFEs at end-April were worth PLN 150.56 billion.