The Warsaw Voice » Business » News - September 13, 2018
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Asset manager in legal troubles
   
Asset manager Altus TFI has suffered an 80% decline in capitalization since his founder Piotr Osiecki was detained, the daily Puls Biznesu wrote.
Within the last three months, redemptions at Altus amounted to PLN 1.1 billion, while at peer Trigon they hit PLN 0.9 billion, Puls Biznesu added citing the data from researcher Analizy Online.
Altus might face more redemptions in its still existing funds in September and the following months, an anonymous head of a leading TFI told the daily.
Legal troubles of Altus's board members have reverberated across the market and deterred clients, chair of AgioFunds TFI Adam Dakowicz said, admitting to several hundred thousand zloty worth of sales in the current week vs the standard PLN 5-7 million in weekly gross turnover.