AMWatch

No organic growth for Storebrand AM in Q3 – acquisition adds to AUM

The Norwegian manager's third quarter AUM growth equates to the capital sum added by acquiring a Danish real estate manager, finalized this quarter.

Storebrand's building in Lyksager, Norway | Photo: Storebrand/PR

Norway's largest asset manager Storebrand Asset Management's grew its AUM by 2 percent in the third quarter. This means growth declined compared to the second quarter were AUM growth amounted to 5 percent.

In terms of figures, the subsidiary of Norwegian insurance giant Storebrand's AUM grew by NOK 21bn (EUR 2.16bn) to NOK 1.058bn (EUR 109bn) in Q3, according to the latest report.

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