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.