Our philosophy of investment

Building on the foundations 

The investment philosophy of SKARBIEC TFI is mainly based on the basic analysis of public companies and the macroeconomic environment of financial markets. We employ a team of analysts with longstanding experience in investment. They are responsible for detailed analysis of the financial situation of portfolio companies as well as preparation of recommendations for assets managers. Bogusław Grabowski, President of SKARBIEC TFI Management Board, doctor of economic sciences and member of the Monetary Policy Council from 1998 to 2004, is a great support for the managing team in the field of long-term macroeconomic forecasts.

Making use of investment opportunities

Although the face of our capital market has changed diametrically in the recent years, which is evidenced, among others, by the increased number of companies, liquidity, stock market capitalization and the number of market players, in our opinion there still occur investment opportunities connected with market ineffectiveness. Such opportunities result from emotions of investors, who often overreact to information from the market or base their decisions on factors other than the assessment of the basic value. The irrational behaviour of some investors that disturbs the correct relations between the market valuation of assets and their basic value, may relate both to individual companies, industries or sectors and the entire market, giving the experienced team of managers a chance to achieve over-average rates of return.

The professional team

An asset manager plays the key part in the investment process. According to our approach he takes final decisions on the shape of the investment portfolio and is fully responsible for the achieved results. For these reasons, persons responsible for assets management at SKARBIEC TFI are carefully selected professionals with longstanding experience and over-average investment results. Their special advantage is, among others, experience in managing portfolio investments on many foreign markets. In case of share funds and mixed funds this facilitates flexible management of the shares part through including prospective companies from outside the domestic market in the portfolios.