AMWatch

AUM growth at Norway's largest banking group hampered by institutional outflow

In Q3, DNB Asset Management saw lower net inflows from retail clients, while institutional clients withdrew money.

DNB's headquarters in Bjørvika, Oslo. | Photo: PR/DNB

The asset management arm of Norway's biggest bank increased assets under management in Q3 by only 0.8 percent or NOK 7bn (EUR 720m) to total NOK 836bn (EUR 86bn), thus lagging behind its Nordic peers that have released third quarter reports at the time of writing.

Of the NOK 7bn AUM increase, NOK 1.3bn (EUR 134m) came from net inflows in the third quarter, down from NOK 13.1bn (EUR 1.3bn) in Q2.

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