Warsaw (Puls Biznesu) – Construction sector
is the most popular while CEZ, Bioton and TP stock are the least popular blue
chips in portfolios of pension funds.
All 20 blue chips building the WIG20 index constitute portfolios of 14
pension funds operating in Poland. At the end of 2007, Cersanit tile producer
was in all but one funds. They jointly control 27 percent of its capital.
“The company develops well. We positively evaluate its merger with Opoczno
because it will probably mean better results”, Grzegorz Zatryb from
Similarly popular are GTC, Polimex-Mostostal and PBG connected with the
construction sector. Polnord, from the same branch, was much less popular. As
many as six funds did not have its shares at all. In 2007 the company rose 75.2
“The jump was so big that the price exceeded a level we considered rational”,
Grzegorz Zubrzycki from PTE Allianz explained.
Fund managers were not worried with problems of Ryszard Krauze businessman.
The share of Prokom’s stock in the portfolios was much higher than its weight in
WIG20 index. The funds bought more shares of Prokom last year and now they
control 20 percent of its stock.
The only foreign blue chip, the Czech CEZ was not popular. Only seven funds
bought its shares. In 2007, CEZ’s stock gained 35.6 percent. Fund managers were
skeptical against Bioton insulin producer. Eight funds did not have its stock in
their portfolios at the end of 2007. They also sold one fourth of their shares
at TP telecom. Banks were also not very popular, similarly commodity companies,
including PGNiG, PKN Orlen, Grupa Lotos or PGNiG.