Storebrand Asset Management got through Q1 with only slight drop in AUM

Currency effects and the addition of a large pension scheme have saved Storebrand Asset Management from an AUM drop despite corona turmoil.

Photo: Storebrand/PR

Assets under management at Storebrand Asset Management only decreased by EUR 222 million (0.3 percent) to EUR 73.8 billion in the first quarter of 2020, down from EUR 74 billion in Q4 2019, despite the corona-led market turmoil.

Currency effects in Q1 are estimated to have increased the firm’s AUM by EUR 5 billion, Storebrand writes in its report. As of the 1st quarter 2020, Storebrand also manages Posten Norway’s Defined Contribution pensions with more than EUR 26.7 million in annual premiums and more than EUR 267 million in transferred assets.

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