Swedish activist investor Cevian Capital is further strengthening its position as a major shareholder in Nordic banking giant Nordea.
Over the last few months, the firm has bought Nordea shares worth SEK 1bn (EUR 98.8m) and Managing Partner and Co-founder Christer Gardell says the bank’s stock is "very undervalued", Dagens Industri writes.
More from AMWatch
95 percent of active global high-yield managers struggle to consistently add value net of fees, according to the world's fourth-largest asset manager ahead of launching a global HY index fund. However, a recent survey by consultancy Kirstein showed a vast majority of Nordic investors preferring their HY portfolios actively managed.