Nordea Bank AB enters into conditional agreement to acquire Nordea Invest Fund Management A/S
2010.03.02The Danish management company Nordea Invest Fund Management A/S is owned by the 160,000 investment fund members of Nordea Invest in Denmark. The divestment of the company to Nordea, which is the key distributor and portfolio adviser of the investment fund, will strengthen the position of Nordea Invest and Nordea in the market for investment products.
The divestment should also be viewed on the back of the ever-growing requirements for investment fund management and investment advice. This makes it even more necessary to build expertise and requires major investments in IT systems.
“The agreement ensures that the members of Nordea Invest will continue to benefit from high quality and security in fund management,” says Lars Eskesen, Chairman of Nordea Invest.
With the agreement, the fund remains competitive on prices and management costs will be reduced in relative terms in line with the expected increase in the fund’s assets.
“The agreement allows the fund to continue to offer existing and new Nordea Invest members a wide range of investment opportunities, and costs can simultaneously be kept down thanks to economies of scale,” says Allan Polack, Head of Nordea Savings & Asset Management.
The agreement is conditional upon the approval of the relevant general meetings of Nordea Invest.
For further information:
Allan Polack, Head of Nordea Savings & Asset Management,
+45 33 33 15 25
Claus Christensen, Chief Press Officer, +45 33 33 12 79
Nordea Invest has 160,000 members. For 13 consecutive months Nordea Invest has obtained the highest ratings among the largest Danish investment funds from Morningstar, the independent rating agency.
Nordea Asset Management is the largest asset manager in the Nordic region. Assets under management in Nordea investment funds in Europe total EUR 48.5bn.
