Insurer owned asset managers increased market share again in October as strong gains for NN Investment Partners TFI and PZU TFI powered the group to AuM (assets under management) gains to match the market dominant bank-owned managers, a review of end-month AuM from the nation’s fund manager lobby – IZFiA shows.
Over half of the nation’s independently owned asset managers suffered a loss in AuM again in October. Fourteen of nineteen independent names are down over the past 12M over which time the group has lost 2.7 pps of market share to 16% end-October.
Ipopema TFI broke that pattern with a heavy PLN 315 mln in added weight for the October reading, an 18% monthly increase.
Poland’s asset manager landscape is shifting under the burden of a changing regulatory regime. Introduction of MiFID2, still in flux in Poland, is likely to favor the fate of asset managers owned by banks and with the ensuing captive clientele. Independent managers see threats to third party distribution agreements under MiFID2 terms.
Separately, IZFiA figures pointed to PLN 1.1 bln in net inflows in October on continued gains for bond funds.
