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Asset Management Market In Poland 2008-2010Published by: Intelace Research Published: May. 1, 2008 - 48 Pages Table of Contents
AbstractMarket growth. 2007 was another successful year for asset managers in Poland. The total value of AuM* surged in 2007 by ~32% to the all-time high of EUR 107bn. The key growth driver was similarly to previous year a favorable climate on equity markets combined with low interest rates, which supported exceptional performance of equity based investments. Apart of strong investment results, also significant inflows of new funds contributed to overall AuM balance increase. The most quickly growing segments in 2007 were: investment fund assets followed by pension assets and investments of insurance companies, recording: 44%, 28% and 24% yoy growth respectivelyHigh profitability. After the solid 2006 year, profitability of most asset managers remained strong in 2007. The last year has been particularly successful for investment funds managers, since the average return on equity for the sector surged to a record 89% ! in H1 2007. The key reasons of this development was a substantial growth of volumes combined with stable margins. In contrary the profitability of pension managers did not change considerably - which was a result of falling margins and growing volumes Innovation. Responding to the client demand for alternative investment strategies, in 2007 fund managers and insurers introduced multiple new products and innovations. Real estate, hedge, specialty funds and tax friendly umbrella solutions were increasingly popular. Only in the area of investment funds there have been added ~100 new funds and sub-funds during 2007. Also life insurers pushed strongly unit-linked and fund based products, offering various solutions including repackaging of 3rd party funds and long term investment schemes based on funds Future Outlook. In short-term perspective (FY2008) the asset management market will correct the excessive growth recorded in 2005-2007. Nevertheless the mid-term outlook is still very positive. Increasing wealth of individuals resulting from surging wages and higher employment will ultimately drive assets higher. Intelace Research expects that overall market will reach PLN 492bn in terms of assets until 2010 - more than doubling in value against 2005. The key growth driver will be pension funds business expected to grow ~10% on average through 2010 * Include 3 key categories of AuM in Poland: investment fund net assets, pension fund net assets and insurance investments (lokaty) and unit-linked assets Get Full Details About This Report >> |
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