Storebrand AM enters UK market: AuM took a nosedive in 2018

A weaker SEK and market turmoil had a negative impact on Storebrand Asset management's asset pool last year. Today, the NOK 707bn money manager announces plans to enter the UK market with multifactor and ESG products.

Jan Erik Saugestad, head of asset managment at Storebrand. | Photo: Storebrand Asset Management

Assets under management at Norway's largest private asset manager Storebrand fell by NOK 14bn in 2018. The decline was primarily attributed to a weaker SEK as well as volatile financial markets, especially in the fourth quarter, the company writes in its annual report.

At the end of 2018, AuM amounted to NOK 707bn divided into Norwegian and Sweden pension savings at NOK 424bn, institutional mandates at NOK 245bn and direct retail at NOK 39bn.

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