Warsaw (Puls Biznesu) – In October, the funds are extremely active as the shareholders. The companies are publishing their results.
In the second half of October, over 10 statements were published considering the changes in the level of engagement of investment and pension funds in companies’ shareholders structure. First, the funds would decrease their stakes. Generali OFE sold Rafako stake, AIG OFE sold PEP while CU IM sold Computerland. Meanwhile, ING TFI bought more shares of Toora Poland (increased its stake from 2.56 to 8.1 percent) and AIG OFE increased its stake in Vistula from 5.8 to 7.6 percent. Since October 19th, the funds would mainly inform about increasing their stakes. Legg Mason bought more Remak shares, CU OFE – LPP, Millennium TFI – FAM Technika Odlewnicza, AIG OFE – Intercars, BPH TFI – W. Kruk while Pioneer Pekao – Naftobudowa. PZU AM was the only fund to decrease its stake (in Sfinks to below 5 percent).
Specialists point out that funds are more active when the companies publish their results. When an institutional investor appears in a company, it is a sign that good results will be presented. More investors are interested in the stock, shares price soars, and the fund may sell its stake well. The end of the year is coming and funds care to present good results.