In Poland, investment funds have existed since 1992 and have developed considerably ever since. In 2004, a major change in legal provisions related to the organisation and functioning of investment funds in Poland was introduced, which was triggered by Poland's accession to the EU. Owing to the above, harmonisation of Polish legal provisions with EU laws was necessary. At present, investment funds in Poland may operate as open funds, special open funds, closed funds and funds of a specific construction or funds of a specific type.

The main aim of the article is to present organisational and operating principles of investment funds in Poland which may conduct business after Poland's accession to the EU. The article also presents some principal problems related to the development of investment funds market in Poland, in particular, in the context of foreign investment funds operating on the Polish market.