Scandinavian asset manager SKAGEN Funds has been bought by Nordic long-term savings and pensions firm Storebrand Group.
Under Storebrand's ownership, SKAGEN Funds' clients will have access to a broader product range, but the manager will remain a separate entity within the group. Reporting to its own board, chaired by Storebrand CEO Arild Grefstad, SKAGEN Funds said there will be no change to its investment philosophy as portfolio managers will be part of a partnership programme. Storebrand has acquired SKAGEN from the firm's shareholders, which include founders Kristoffer Stensrud, Tor Dagfinn Veen and Åge Westbø. Øyvind Schanke, CEO of SKAGEN, said: "We believe this will enable us to deliver an ev...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
