Q4 was a positive quarter for Nykredit Wealth Management. When the Covid-19 crisis set in, assets under management fell in last year's Q1. After the third quarter, the asset management arm of Denmark's largest mortgage provider hadn't recuperated what was lost during the first three months of the year. But that changed in Q4 when assets under management surged by 11.8 percent to DKK 371.7bn (EUR 49.9bn).
"The rise comprised positive net sales of DKK 30.7bn, driven by demand from institutional clients, international clients, Private Banking Elite clients and the group's savings products, as well as positive returns of DKK 5.2bn," Nykredit writes in the full-year report, released Thursday.