AMWatch

Underweight of Danish equities and Gilbraltar divestment dampened growth at Jyske Capital

At Jyske Capital, AUM growth in 2020 was hampered by the divestment of the Gibraltar branch and too few Danish Equities in the portfolios in the beginning of the year. Jyske Bank's asset management unit lead, Henning Mortensen, is happy with the inflow into Danish bonds and corporate bonds strategies.

Henning Mortensen, head of Jyske Capital. | Photo: PR / Jyske Capital

Denmark's third-largest asset manager came out of 2020 with growth in the lower end of things relative to its Nordic peers. Here, underlying factors include a lower initial weight of Danish equities in cross-asset solutions and the divestment of the branch in Gibraltar, along with a tough first quarter due to the Covid-19 outbreak.

"Most of the losses in the first quarter were market driven. We lost DKK 15bn [EUR 2.02bn, -ed.] , but since then, we have seen a growth of DKK 19bn with a pretty fantastic development since end-March. Inflows have actually also been quite okay since then," Henning Mortensen, head of Jyske Capital, tells AMWatch.

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