Danske Wealth Management's AUM still below year-end 2019

Assets under management at Danske Bank's Wealth Management unit is still below the AUM by year-end 2019. According to the half-year report from Denmark's largest bank, the corona crisis affected net sales negatively.

Danske Wealth Management is based in Lyngby in the northern suburbs of Copenhagen. | Photo: Mogens Flindt

Positive returns boosted AUM at Danske Wealth Management to DKK 1,560bn (EUR 209.5bn) by the end of the second quarter, but compared to the end of 2019, AUM has declined by DKK 56bn (EUR 7.5bn).

"The decrease was driven primarily by negative developments in the financial markets towards the end of the first quarter 2020 in addition to a general need for liquidity among customers during the corona crisis affecting net sales negatively," Danske states in the half-year report published Friday.

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