News Parkiet

Mutual funds

SEC warns fund investors

about hidden fees

Investors who buy international mutual funds available in Poland since recently may have to pay hidden fees, including administrative and other charges, senior official from Poland?s Securities and Exchanges Commission told PARKIET yesterday. Several major mutual fund groups, including Franklin Templeton, Citibank, DekaBank and UK?s Man group said they plan to sell mutual funds here. On Monday Merrill Lynch became the first Western firm to start selling fund units to Polish investors.

Politics

Zloty rallies after Belka?s policy

announcement

Polish zloty rose as much as much as one percent against the euro and the dollar after a mid-afternoon statement by prime minister Marek Belka he will stay on as the head of caretaker government until May 5. Mr. Belka, an economics professor from Łódz University urged the parliament to dissolve itself, calling for early elections sometime in June.

The yield on benchmark two-year bonds fell to 5.45 percent from its morning high of 5.6 percent after Mr. Belka?s announcement. Analysts say yesterday?s price movements reflect lower political risk associated with uncertainty about early elections.