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Investment Funds and Asset Management Market in Poland, 2023-2025

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  • 56 Pages
  • December 2023
  • Region: Poland
  • Inteliace Research
  • ID: 5180913

PLN 700 Billion AUM and Beyond: A Detailed Look at Poland's Asset Management Resurgence

This report provides a comprehensive overview of investment funds and asset management sector in Poland. The analysis covers main pillars of the market including: mutual funds, insurance and pension assets. The report includes also mid-term forecast of key volumes for the period 2023-2025.

Similarly to the analyst's other reports, the data has been presented in a form of horizontal presentation. The report contains 41 slides on 56 pages.

Over the last five years, the asset management sector in Poland has experienced stagnation, characterized by temporary fluctuations but lacking substantial growth in managed assets. However, 2023 brought some relief, with total assets under management in key segments* reaching over PLN 700 billion in the third quarter of the year, compared to PLN 636 billion at the end of 2022. Investment funds remained the key asset group, surpassing PLN 304 billion, followed by second-pillar pension funds with PLN 179 billion and insurance companies' reserves at PLN 162 billion. The smallest segment, third-pillar pension funds, saw a surge to PLN 60 billion in assets under management, exhibiting the fastest growth among all categories.

The Outlook

The total value of assets under management in Poland is anticipated to grow by over 40% between 2022 and 2025, marking the end of multi-year stagnation. High growth is expected in pension assets, particularly within the "new" third pillar (PPK).

Table of Contents

1. Executive Summary
2. Asset Management Market
  • Slide 1: Asset management market in Poland: Key Segments, 2Q/3Q 2023
  • Slide 2: Assets under management evolution, 2019-1H23
  • Slide 3: Top asset managers (groups) by AuM, 2Q/3Q 2023
3. Investment Funds
  • Slide 4: CEE 8 Investment fund industry - size vs. growth matrix, 2019-1H23
  • Slide 5: CEE investment funds penetration benchmarks, 1H23
  • Slide 6: Evolution of assets, number of funds & managers, 2018-3Q23
  • Slide 7: Fund assets by type of fund (open-end, closed), 2018-3Q23
  • Slide 8: Fund assets by underlying asset mix, 2020-3Q23
  • Slide 9: Fund assets by origin of assets (public/non-public assets), 2018-3Q23
  • Slide 10: Top 10 players in investment fund market, 3Q23
  • Slide 11: Market share evolution of top fund managers, 2020-3Q23
  • Slide 12: Top fund managers by client count, 3Q23
  • Slide 13: Distribution - online distribution platforms, 2023
  • Slide 14: Local funds invested in foreign assets and foreign funds, 3Q23
  • Slide 15: Investment fund assets flows, 1Q20-3Q23
  • Slide 16: Fund assets structure by: dominating asset class, dedication, geo- scope, open vs. closed, 3Q23
  • Slide 17: Ownership of funds by groups (retail/financial/other), 4Q19-2Q23
  • Slide 18: Structure of Personal Financial Assets (PFA). The share of Investment funds within savings of households, 2018-2Q23
  • Slide 19: Value of deposits, cash & investment funds held by households outstanding value, 2018-1H23
  • Slide 20: Fees and commissions charged by top fund managers, Nov. 23
  • Slide 21: Revenues and costs of fund managers, 2022
  • Slide 22: Profitability tree for fund managers, 2019-2022
  • Slide 23: Regulations: Fund management fee limitations
  • Slide 24: Top players' profiles - Ipopema TFI
  • Slide 25: Top players' profiles - PKO TFI
  • Slide 26: Top players' profiles - PZU TFI
  • Slide 27: Top players' profiles - Goldman Sachs TFI
  • Slide 28: Top players' profiles - Pekao TFI
  • Slide 29: M&A transactions including fund managers in Poland
4. Pension Funds
  • Slide 30: Composition of the pension sector (2nd and 3rd Pillar)
  • Slide 31: Pillar II: Assets, members, average account value, 2019-3Q23
  • Slide 32: Pillar II: Top pension asset managers (OFE), 3Q23
  • Slide 33: Pillar III - New pension vehicles: PPK overview (3rd pillar)
  • Slide 34: Pillar III - PPK: assets, members evolution, 2020-1H23
  • Slide 35: Pillar III - Summary, all products: assets, accounts, 2020-1H23
  • Slide 36: Pillar II: Managers (OFE) profitability tree, 2019-2022
5. Insurance Assets
  • Slide 37: Technical reserves by type evolution, 2019-2Q23
  • Slide 38: Technical reserves by segment and by company, 2022
  • Slide 39: Profitability of life insurers, 2018-2022
  • Slide 40: Profitability of non-life insurers, 2018-2022
6. Forecasts
  • Slide 41: Asset Management Market: Mid-term forecast for assets: investment fund assets, pension assets (p2, p3), insurance investments, 2023-2025

Companies Mentioned

  • Allianz TFI
  • Goldman Sachs TFI
  • Ipopema
  • Pekao TFI
  • Santander TFI