Skarbiec reaps rewards

Grupa Skarbiec's net profit amounted to zł.16.1 million in 2005. According to Jarosław Orlikowski, the acting president of Skarbiec Asset Management Holding (SAMH), this was the best result in the group's history and "much higher than expected."

SAMH had a net profit of zł.8.29 million, most of which is credited to Skarbiec TFI SA - the investment fund management company - which made zł.6.56 million in 2005. PTE Skarbiec Emerytura SA, the group's other entity, recorded a profit of zł.7.86 million last year.

Orlikowski is especially proud of SAMH's operating revenues in 2005, which at zł.7.87 million was nearly twice the expected zł.4.85 million. "It is a great increase; in 2004 the operating result was only zł.700,000," Orlikowski added. He credits a number of factors for the growth, including the increase of assets, their allocation in new and innovative products and structural changes the company underwent last year.

Orlikowski stresses the importance of innovative products in the company's offer. It boasts the first investment vehicle made up of units from funds offered by different management companies. It also offers 'white label' funds, which are custom made for institutional clients.

Orlikowski expects that the investment-fund market will continue to grow in 2006 although not as rapidly as in 2005 when the market grew by 63 percent.

"We expect a growth rate of 25-30 percent," Orlikowski said. The company wants to grow assets at a faster rate than the market. Also, new products are to be launched this year, including open funds, umbrella funds and a mortgage fund directed at foreign investors.