Maj Invest, a Danish asset manager which also runs a small bank, can look back on a 2016 where its bottom line grew by an impressive 120 percent to 180 million DKK (24.2 million EUR), according to the company's annual accounts.
"The profits not only depend on how many clients we have, but also on the general market development and our performance, and for that reason it will vary from year to year. 2016 was one of the really good years, says Chief Executive Jeppe Christiansen in a press release.
The Danish asset manager Maj Invest consists of a number of different business arms, including asset management, investment counseling, and bank products.
The net interest and fee income rose to 423.5 million DKK in 2016 compared to 292 million DKK in 2015, while expenses for staff and administration fell to 208.5 million DKK against 211.9 million in 2015.
"In 2016, we have experienced increased interest in our products. We have acquired more institutional clients in Denmark, and more Danish clients have chosen to invest their assets through Maj Invest. At the same time, we are starting to see the results of our strategic focus on institutional clients," says Managing Director Henrik Parkhøi in the press release.
"On the international scene, there has been special interest in the product Value Equities, which has made exceptional returns by both European and global standards. In Denmark we have also had a high demand for our award-winning bond products and for our Kontra product, which is designed to counter crises," he says.
English Edit: Marie Honoré