POLAND – Open pension funds (OFE) run by insurance companies took in PLZ473.1m in investment revenues in the year 2000, less PLZ38.8m in operating costs, according to figures released by the national statistics office, Polska Statystyka Publiczna.

The total assets under management in pension briefs reached PLZ9.26bn by the end of the year.
On average, over a third (33.9%) of the assets were invested in equities and 60.2% were exposed to bonds.

At the same time, pension fund managers (PTEs) recorded a net loss of PLZ847.8m, with total revenues amounting to PLZ726.6m, while annual costs climbed to PLZ1.64bn.

Mutual fund managers (TFI) were slightly better off with a total loss of PLZ38.6m last year, while their funds gained PLZ558.8m.
Before costs, the TFIs’ total revenues were PLZ192m.