Activities of TFI PZU

TFI PZU SA (TFI PZU) conducts activities on the mutual fund market within the PZU Group. It offers products and services to both mass market and institutional customers, including additional investment/savings programs within pillar III of the social insurance system, including Individual Pension Account (IKE), Specialized investment programs, Employee Pension Programs (EPP) and Corporate Investment Programs (ZPI).

Rate of return from TFI PZU's INvestment funds in 2013 (in %)

At the end of 2013, TFI PZU had 25 funds and sub-funds in its portfolio, of which 16 were also offered to customers from outside the PZU Group.

At the end of 2013, TFI PZU had accumulated net assets of a value of PLN 22,216.6 m, which means growth of 44.6% compared with the situation at the end of 2012. Similarly, it maintained the leading position on the mutual funds market with a share of 11.8% (compared with 10.5% in December 2012). Simultaneously, the Company remained the leader in the segment of employee pension programs among all institutions operating on this market (not only mutual funds), accumulating assets worth more than PLN 2.2 bn (PLN 1.8 bn at the end 2012).

TFI PZU’s asset growth in 2013 was primarily due to:

  • the continuation of the investment strategy within the PZU Group and the transfer of some of the funds by some of its companies (mainly PZU and PZU Życie) for TFI PZU to manage;
  • the active sales of closed-ended funds and conducting issues of certificates;
  • further expansion of the distribution network. In 2013, TFI PZU obtained new distributors to work with it, namely, DM BOŚ, DM BPS, Dom Inwestycyjny Xelion and CDM PEKAO. However, with regard to accepting subscriptions for investment certificates, the Fund started to work with ING Bank Śląski, Alior Bank, Dom Inwestycjyny Xelion, Dom Maklerski Bankuy Handlowego, Deutsche Bank PBC and CDM PEKAO;
  • the establishment of cooperation with regard to investing the funds in mutual funds managed by TFI PZU with TU na Życie Europa, TU Allianz Życie Polska, NATIXIS and AVIVA TU na Życie;
  • the registration of eight new Employee Pension Programs and the takeover of two EPPs for management;
  • the investment results generated by the fund managers.

TFI PZU'S net assets (in PLN million) 

In 2013 the Company launched a new product onto the market (through the network of PZU branches) which was based on the Portfel PZU Święty Spokój [PZU Peace of Mind Portfolio] and the PZU Inwestor [PZU Investor] loyalty program. Furthermore, work was conducted, among other things, on the launch of a public closed-ended mutual fund - PZU FIZ Akord and work was initiated on the development of mobile web applications dedicated to customers of PZU Inwestycje.

TFI PZU’s activities were welcomed by the market. In 2013, the Company:

  • received a very good appraisal from an independent analytical company, Analysis Online, for PZU Stabilnego Wzrostu Mazurek [PZU Stable Growth Mazurek], PZU Akcje Małych i Średnich Spółek [PZU SME shares] and PZU Zrównoważony [PZU Balanced] and maintained this assessment for PZU Energia Medycyna Ekologia [PZU Energy, Medicine, Ecology] (4* in this rating);
  • the managers of the PZU Zrównoważony Fund – Konrad Augustyński, Kamil Gaworecki and Paweł Kowalski – received the prize awarded by the Gazeta Giełdy PARKIET newspaper, “Złoty Portfel” [Golden Portfolio] for excellent investment performance in 2012.