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German funds giant unveils plans to enter Poland
DekaBank, the second biggest German funds management company intends to enter the Polish market, offering 11 different funds.
"We want to offer funds that invest in shares, bonds and monetary markets," said DekaBank's director of foreign customer service, Ruediger Daberkow. DekaBank is looking for partners to handle sales and is currently holding talks with several banks and insurance companies that are interested in cooperating. The distribution of funds is expected to start in Q 2005. Since Poland joined the EU foreign funds management companies have had easier access to the Polish market, only needing to inform the Securities and Stock Exchange Commission (KPWiG) about their plans before acting on them. The first foreign company that received consent from KPWiG was CitiBank. The UK's Man Investments has also expressed an interest in joining the market.
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