The largest Nordic asset managers have increased their AUM this year – one is far ahead of the others

The largest asset managers in the Nordics have seen their their assets under management increase after losses in Q1, when the Covid-19 pandemic hit the world. According to the fastest-growing asset manager, the sustainable investment trend is impacting all segments.

Jan Erik Saugestad, chief executive at Storebrand Asset Management. . | Photo: PR/Storebrand

When the pandemic hit in March, assets under management took a dive in Q1 for all the larger Nordic asset managers. After Q2, most were still below year-end 2019, but a continued positive development in third-quarter financial markets helped the nine biggest Nordic players into positive territory.

After Q3, Norwegian life insurer Storebrand has increased its AUM by 10.8 percent to NOK 921bn (EUR 86.12bn) since year-end 2019. In comparison, the 13 largest asset managers in the Nordics increased their AUM by an average of 1.4 percent during the period, shows a review compiled by AMWatch.

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