The dashed line in the chart shows the performance of the Subfund before the change in the investment policy that took place on 25 February 2023. More information about the change in the investment policy is available here.
The PKO Dynamic Allocation Subfund is an actively managed subfund. It implements an active allocation strategy. This means that, depending on the assessment of the current market and economic situation and within the applicable investment limits, the Manager changes the level of exposure to individual asset classes, such as bonds or shares. In neutral position, the Subfund portfolio will accept exposure only to debt instruments with low investment risk, e.g. bonds of the State Treasury, as well as selectively chosen corporate bonds of companies with a stable financial standing. A neutral position shall be understood as a base position adopted by the manager of the Subfund's portfolio when he/she does not see the benefits of accepting exposure to instruments with higher investment risk, e.g. shares.
The maximum level of equity instruments (mainly shares) in the Subfund portfolio is up to 40% of the Subfund’s Net Asset Value.
Please be informed that in the last 12 months, the Subfund underwent significant changes:
- on 16 September 2022, the PKO stable Growth Subfund (acquiring subfund) was merged with the PKO Balanced Subfund (acquired subfund), separated within PKO Umbrella – open-end investment fund. More information about the merger is available here;
- on 25 February 2023, there were changes in the name and investment policy of the PKO Stable Growth Subfund, separated within PKO Umbrella – open-end investment fund. Since the said date, the Subfund has adopted the name of PKO Dynamic Allocation. More information about the changes made is available here.