PKO BP to buy KBC TFI mutual fund

WSE-listed, state-owned lender PKO BP signed a deal to buy KBC FTI mutual fund from Belgium’s KBC Asset Management for an undisclosed sum, the company said in a market filing. The deal is expected to be finalized by end-Q1 2018, pending regulatory approval. PKO BP will merge KBC TFI with its own PKO TFI fund, which is Poland’s biggest retail mutual fund with PLN 23.2 billion of assets under management. KBC TFI has PLN 4 billion of AuM. “PKO BP’s strategy assumes development both organically and through mergers and acquisitions. We’re closely watching what is going on the market and trying to make good use of opportunities,” PKO BP Chief Executive Officer Zbigniew Jagiełło said.