In an effort to improve its position on the Polish market, JP Morgan Asset Management selected Skarbiec TFI as its local partner. According to the business server parkiet.pl, Skarbiec will apply to the Polish Financial Supervision Authority KNF to set up an umbrella fund, comprising of four sub-funds that will be managed by JP Morgan. “We have chosen Skarbiec TFI due to its well-developed distribution network,” said Berndt May, managing director at JP Morgan Asset Management.
JP Morgan holds an investment portfolio of $1.4bn worldwide. Its Polish network includes 26 funds, dedicated mostly to institutional investors.
