Pension funds buy PLN 261 mln worth of stocks in February

Pension funds purchased stocks for PLN 261 million, according to estimations by brokerage Trigon. "We estimate that February was another month of purchases, with net worth of some PLN 261 million. The demand was equally distributed between Polish and foreign stocks, with PLN 127 million and PLN 134 million spent on them respectively," Trigon said in a report. "The funds were divided when it comes to Polish stocks. We had two major buyers (PZU and Aegon) and one seller (NN), which caused a positive result for the entire market. NN also sold the most foreign shares (PLN 109 million), but the demand of other funds, particularly MetLife, exceeded that sum," the report reads. Pension funds have app. 78.5 percent of their assets allocated to stocks (a 1.2 pp increase m/m). "Ten funds have over 75 percent of stocks. If they had to go down to that level (as per the new pension fund reform), they would have to sell stocks worth app. PLN 5.4 billion," Trigon wrote.