Pioneer looks forward to attracting more individual savers

Investment fund Pioneer expects that the value of its managed assets will increase from zł. 6.7 billion at the end of March to zł. 8 billion by the end of the year. However, it will also limit the number of products offered by merging its other funds which have a similar investment strategy. In the first quarter of 2003 the value of assets managed by Pioneer increased by 23% while the number of customers exceeded 230,000. "I expect the following quarters to be equally as good," said president of Pioneer Pekao Investment Management Daniel Kingsbury. The results are mostly due to the fact that Pekao offers Pioneer products at its points of sale. According to Pekao deputy president Cezary Smorszczewski, the investment funds offer great prospects as he argues, "Only 10% of individual savings are placed with them." (Parkiet, p. 8) M.M.