AMWatch

SEB saw net outflows in Q3 due to alternatives - group AUM slightly higher

The second-largest asset manager in the Nordic region saw less growth in its assets under management than its peers in Q3. However, the financial report shows encouraging signs for the mutual fund business. 

Photo: PR/SEB

At the end of the third quarter, assets under management at Swedish major bank SEB had grown by SEK 21bn (EUR 2.1bn) to SEK 2,422bn (EUR 241bn), up from SEK 2,401bn (EUR 239bn) at the end of the second quarter. This is shown in the third quarter figures published by the bank on Wednesday morning.

This represents a quarterly growth rate of 0.9 percent, which is slightly lower than domestic competitor Handelsbanken, which reported a 1.6 percent growth in its AUM late on Tuesday evening.

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