Poland to cap management fees gradually, no changes in 2017

Financial market regulator KNF, said after consultations with investment funds, that the 2 percent cap on management fees should be implemented gradually to 2022. No changes will be made this year. “Taking into account that financial and capital situation of particular investment hoses differs significantly, depending on the scale and profile of operations, as well as the position within or outside of a capital group, the cap on the management fee for managing open investment funds should, be introduced gradually,” KNF statement reads. This decision is one of the steps aimed to implement the MiFID II EU directive, introduced back in 2007, which seeks “to improve the competitiveness of EU financial markets by creating a single market for investment services and activities and to ensure a high degree of harmonized protection for investors in financial instruments.”