Emerging market funds increasingly invest in Poland

According to data from Emerging Portfolio Fund Research, at the end of December 2004 Polish shares constituted almost 1% of all assets of the firms investing in emerging markets. The figure increased by roughly 30% during the year, and according to analysts, investors interest in Polish shares should be high in 2005 due to prudent economic and fiscal policy coupled with high economic growth. The funds mostly invest in Pekao, TP, PKN Orlen and most likely PKO BP. Funds investing in the emerging market recorded an average rate of return of 16.5%, but some of them noted even over 30%. In the emerging market portfolio, the largest number of shares of European companies is represented by Russian, Turkish and Hungarian firms.