2011-01-17
Open-Ended Pension Funds Increase Exposures to Hydrobudowa Polska Shares
Clearly, pension funds took advantage of the falling prices of the Company's stock in 2009 and increased their exposures. According to the annual asset structure data published by the funds, at the end of 2010 the total value of Hydrobudowa Polska shares held in the portfolios of open-ended pension funds, calculated at the mid-exchange rate for December 31st 2010, was above PLN 120m. This represents an over 17% increase relative to PLN 102.3m at the end of 2009.
At the end of 2010, the number of Hydrobudowa Polska shares held by open-ended pension funds was close to 38m, having risen by more than 30% compared with a year earlier. During 2010, the aggregate share of pension funds in Hydrobudowa Polska's shareholder structure increased from 13.8% to 18.04%.
The asset structures of pension funds suggest that in 2010 five funds decided to increase their exposures to Hydrobudowa Polska shares, of which ING OFE (the second largest shareholder, right after PBG S.A.) and OFE Polsat were the largest buyers. On the other hand, in 2010, three funds chose to sell Hydrobudowa Polska shares.
Shareholdings of pension funds in Hydrobudowa Polska at the end of 2009 and 2010 are presented in the tables attached hereto.