All the data contained on the website of PKO TFI S.A. are for information and advertising purposes only and do not constitute an offer within the meaning of Article 66 of the Polish Civil Code; the date do not constitute a service of investment advice or the provision of recommendations concerning financial instruments or their issuers within the meaning of the Act on Trading in Financial Instruments; nor are they a form of provision of tax advice or legal assistance.

PKO TFI SA has made every reasonable effort to ensure that the information contained on the website is reliable and based on accurate sources; however, the company cannot guarantee its accuracy, completeness or up-to-dateness. Unless otherwise specified in the content of a specific material, the data source is PKO TFI SA’s own calculations. The content and design of the website may be changed at any time without prior notice.

The risk of using the information contained on this website, in particular the risk of taking an investment decision, is borne solely by the website user.

The results of investment funds managed by PKO TFI SA presented on the website are based on historical data and do not guarantee that identical results will be achieved in the future. There are handling fees that are charged for payments to the fund or the repurchase of participation units/redemption of investment certificates. The amount and method of collecting the handling fees are set out in the tables of fees.

Current quotations of the participation units are updated on the website as soon as the Funds have valued their assets.

PKO TFI S.A. is making every effort to reduce the risks of investing in the investment funds. Nevertheless, when investing in Subfunds/Funds, you should bear in mind that the benefits of investing funds in participation units of Funds are also accompanied by risks, such as: the risk of failure to achieve the expected return on investment, the occurrence of circumstances beyond the control of the Fund Participant, e.g. operational, as well as the risk of inflation, liquidity of investments, liquidity and risk related to changes in legal regulations, as well as liquidation of the Fund (Subfund). Among the risks related to investing a particular attention should be paid to investment policy risks, including but not limited to market, interest rates, foreign exchange, credit, derivatives and concentration risk, risk associated with custody of assets, as well as risks associated with settlement and liquidity of investments. In addition, increased volatility of the asset class prices and rates of return of the managed Subfunds/Funds may also be affected by military operations conducted in Ukraine, possible terrorist acts related to this conflict and pandemic events.

Moreover, for specific Subfunds there may be specific risks that are unique to those Subfunds only.

For this reason, in order to properly assess the risks of investing funds in  Funds’ participation units, you should carefully read the investment policy, description of risks and investor profile contained in the information prospectuses or the Key Information Documents (KID).

In particular, it is advisable to read the overall risk indicator (on a scale of 1 to 7, where 1 is the lowest risk and 7 is the highest one). This indicator provides a clue as to the level of risk of this product compared to other products and shows how likely it is that you will lose your invested money due to market changes or as a result of not being able to withdraw your invested funds. It takes into account several types of risk. Its calculation is based on the volatility of rates of return in the recommended maintenance period of the investment. It is recommended that the assumed investment period should not be shorter than the recommended maintenance period. Together with the overall risk indicator, it is recommended to read the performance scenarios of the Subfund/Fund. The overall risk indicator, the performance scenarios and the recommended maintenance period are included in the KID.

An investment in funds involves the acquisition of participation units. The funds do not guarantee the achievement of the intended investment objective or obtaining a specific investment result. The possibility of losing at least part of the funds deposited must be taken into account. A detailed description of the risk factors can be found in the information prospectuses available at:, and in the Key Information Document (KID) available at and in the share prospectus, information memorandum or terms and conditions of issue, respectively. The information prospectuses, KID, share prospectus, information memorandum and terms and conditions of issue are available in Polish only. The information prospectuses and KID are available on the website, at the registered office of PKO TFI S.A. or at distributors, the list of which is available by calling 0 801 32 32 80. The website also contains annual and half-yearly financial statements of the Funds. A summary of the rights of investors in an investment fund is included in the relevant provisions of the information prospectuses, in Chapter III Rights of Fund Participants. A summary of investors' rights is available in Polish.

The product is aimed at those accepting a low, medium or high investment risk. Due to the composition of the portfolio and the management strategy pursued, the value of the participation unit may be subject to volatility. The possible outcomes are set out in the KID documents in the section: What are the risks and possible benefits. The Funds/Subfunds may invest more than 35% of the value of a Fund’s/Sub-fund’s assets in securities issued by the National Bank of Poland or the State Treasury, a local government unit, an EU Member State, a local government unit of an EU Member State, an OECD member state or an international financial institution whose members include the Republic of Poland or at least one Member State, in so far as it results from the content of the information prospectus

Depending on the investment policy adopted by a Fund, Funds may invest most of their assets in categories of investments other than securities or money market instruments. Furthermore, due to the composition of the portfolio and the management strategy pursued, the value of a participation unit/investment certificates may be subject to moderate, high or very high volatility.

Certain information contained in the Funds’/Sub-funds' documents relating to their Benchmark is derived or has been compiled from data provided by MSCI Inc. (‘MSCI data’). Neither MSCI nor content providers acting on its behalf make any express or implied warranties or representations and disclaim any liability with regard to the MSCI data used in these documents and the content found on the website. MSCI data can not be reproduced or used for any other purpose without the written consent of MSCI. Further dissemination of MSCI data is prohibited without the written consent of MSCI.

PKO TFI S.A. shall not be liable for errors or omissions in the content of this service arising for technical reasons, in particular as a result of modification of such content by means of teletransmission, including the content of the Funds’ documents and quotations of participation units.

Before purchasing participation units/investment certificates, please read the information prospectus, share prospectus, terms and conditions of issue and articles of association of the relevant investment fund, respectively. Information prospectuses of the Funds managed by PKO TFI are available here and from Distributors.

Taxation related to investment in participation units of Funds depends on the individual situation of the customer and may change in the future. In order to determine tax obligations, it is advisable to seek advice from a tax advisor or legal advice.

Copyrights to the layout and content of the website are held by PKO TFI S.A.

PKO TFI S.A. and the funds are supervised by the Polish Financial Supervision Authority.

The company is entered in the Register of Entrepreneurs kept by the District Court for the capital city of Warsaw, 13th Commercial Division of the National Court Register under number 0000019384. Share capital of PLN 18,460,400. Tax ID No (NIP): 526-17-88-449.

Any additional information will be provided upon individual request.