AMWatch

DNB Asset Management's AUM hit milestone despite decline in institutional and retail net flow

In the third quarter, DNB Asset Management delivers its best quarterly financial result so far in 2020.

Photo: PR/DNB

DNB Asset Management's AUM hit NOK 700bn (EUR 64bn) after Q3, which the company's financial report shows. This is an increase worth NOK 32m (EUR 2.93bn) compared to last quarter – or an increase worth 4.8 percent.

Its net flow amounted to NOK 9,582m (EUR 876.6m) of which institutional clients provided NOK 6,676m while retail investors poured in NOK 2,907m.

This is a decline compared to Q2, where the concurrent figure was NOK 15,538m (EUR 1,421m).

In the third quarter, profits increased to NOK 169m, from NOK 141m, in Q2 and NOK 43m in Q1. The total income increased to NOK 380m, from NOK 351m, while the operation expenses were NOK 156m.

The cost/income ratio was 41.1 percent, which was the lowest level for the past two years.

DNB Asset Management's market share on Norwegian retail market for mutual funds ended the quarter at 34.8 percent, down by 0.1 percentage points compared to Q2.

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English Edit: Nielsine Nielsen

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