The Polish State Railways' Employee Equity Fund called Specialised Open-Ended Investment Fund (SOEIF) is one of the few projects of its kind in the Polish market. The Polish State Railways is the company where the mutual fund formula was used for the first time as a form of employee participation in a company's privatisation. Now the Fund has more than 329,000 members.

The Employee Equity Fund was established pursuant to the Commercialisation, Restructuring and Privatisation of the Polish State Railways Act of 8 September 2002 and the Mutual Funds Act. The Fund is managed by Legg Mason Towarzystwo Funduszy Inwestycyjnych S.A.

The Fund may be joined by individuals who fulfil eligibility criteria stipulated in the Act. These include current and former employees of the Polish State Railways, retired employees, and the heirs of individuals already entitled under the Fund. All Fund members have been awarded a number of investment units depending on their seniority with the Polish State Railways. The number of investment units is fixed, and only their value is increasing as a result of the Fund's investments and proceeds from selling PKP SA property.

According to the Statutes of the Fund, its members will be allowed to sell their investment units back to the Fund after two years from PKP SA first sale of its shares or interests in one of the companies specified in the Polish State Railways Act.