Thursday, September 2nd, 2010
Top investment fund group enters Poland
Franklin Templeton, the world largest investment funds group, is about to enter the Polish market.
Franklin Templeton, the world largest investment funds group, is about to enter the Polish market. According to Gazeta Wyborcza, the Americans are already searching for a distributor who would sell their funds on the market and they plan to be selling units in at least 40 funds within a year. However, Franklin Templeton is not the only company interested in the Polish investment funds market. The Securities and Exchange Commission (KPWiG) has received notifications about intentions to sell foreign funds on the market from, among others, American Citibank, Belgian KBC, French Societe Generale, Swedish Nordea and Danish Jyske Bank. Citibank and KBC, the owner of Kredyt Bank, can easily start the foreign funds sale soon since they already sell have a sales network, while the institutions who lack these distribution networks will have to look for agents. The limited access of new players to distribution channels is cited as the main reason why Polish funds are not fearful of foreign competition. (Gazeta Wyborcza, p. 24) E.B.From Warsaw Business Journal
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