For the sixth consecutive year Legg Mason Equity Sub-fund has been announced the best saving solution within individual retirement accounts in Poland. Taking the top position in the ranking prepared by the major Polish daily Rzeczpospolita, Legg Mason’s Individual Retirement Account proved its outstanding quality in building the capital for future.
According to Rzeczpospolita ‘in long term individual retirement accounts based on equity investment funds perform the best. For the last 9 years Legg Mason Equity has earned more than twice as much as bank deposits offered within individual retirement accounts’.
In the ranking that compared rates of return since the launch of individual retirement accounts in Poland Legg Mason Equity was unrivaled. From September 30, 2004 to September 30, 2013 Legg Mason’s sub-fund achieved the highest rate of return i.e. 129.3%. The result of the second fund on the list was more than 30 percentage points lower. Legg Mason’s result is even more impressive when comparing it to the performance of other investment solutions within individual retirement accounts. In the same period the best performance of IRA with unit-linked funds amounted to slightly more than 94%, whereas the best IRA with underlying bank deposits achieved 57%.
‘From the client’s perspective individual retirement accounts are the best savings and investing vehicles available on the Polish market. They are tax efficient, transparent in terms of costs, inexpensive, and most importantly, extremely flexible i.e. they provide the unlimited freedom of disposing of the funds in case of unexpected situations in life; moreover, there is no requirement of regular payments made to the accounts.’– commented Jacek Treumann, Management Board Member of Legg Mason TFI SA.
Interestingly, the funds saved in IRA are subject to inheritance, therefore they may secure the financial future of beneficiaries designated by the saver.
Legg Mason TFI SA
*Source: M. Pawlak, ‘Akcje pracują najlepiej’, Moje Pieniądze supplement to daily Rzeczpospolita from November 21, 2013