Storebrand AM CEO: "Very pleased with the results and the confidence that clients show"

In Q3, Storebrand AM attracted assets into its sustainable funds across all client segments, including a "sizeable" mandate from the UK, says CEO Jan Erik Saugestad. Despite strong performance from green investment themes, Saugestad rejects the notion of a potential bubble building, but is aware that some companies are riding the ESG tide.

"In spite of Covid-19, we have maintained business continuity, but the establishment of new client relationships outside of our home markets has obviously been very difficult in the current environment with travel restrictions," JAn Erik Saugestad says. | Photo: Lise Eide Risanger / Storebrand

In the third quarter, Storebrand Asset Management experienced strong inflows from both institutional clients and external distributors, according to the chief executive Jan Erik Saugestad, who is "very pleased with the results and the confidence that clients show his firm."

The Norwegian life insurer published its Q3 report yesterday, which showed that the AUM had increased to NOK 921bn (EUR 84.18bn), an increase of 17 percent compared to the same quarter last year. The AUM growth was partly driven by several new institutional clients from both outside and within the Nordics.

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