AMWatch

Market tailwind secures all-time high AUM for Nordea Asset & Wealth Management in Q4

Nordea Asset Management's net flows were down compared to previous quarter as a few large clients reduced or redeemed their mandates.

Photo: CHRIS HELGREN/REUTERS / X00378

Assets under management at Nordea’s Asset & Wealth Management (AWM) unit, which is made up of private banking, asset management and Life & Pensions, increased to EUR 324.1 billion by the end of Q4 2019, up EUR 10.3 billion or 3 percent from the previous quarter.

The increase in AUM in the fourth quarter was mainly due to market appreciation of EUR 9.8 billion, while net inflow was EUR 0.5 billion according to the banking group's annual statement.

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