AMWatch

Nordea Liv moves billions between own funds

Nordea came in both first and last when it came to mutual fund subscriptions in April in Norway. The fact that Nordea Liv moved billions of kroner within the bank explains this.

Sigrid Wilter Slørstad, Head of Sustainable Investments at Nordea Liv | Photo: Nordea

Almost 20 percent of subscriptions in Norwegian bond funds in April were created through one trade, when Nordea Liv injected EUR 360m (NOK 3.6bn) into Nordea Kreditt Star S.

This was not new pension capital, but money that was brought in from another Nordea-managed fixed income fund, Nordea FRN Kreditt. After the capital transfer, this fund plummeted to the bottom of the net subscriptions list for April.

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