Asset management growth in focus as Nordea overall interims described as 'not satisfactory'

The asset management business of Nordea, which sits in the Asset & Wealth Management arm of the universal bank, had a relatively benign first half to 2019, in contrast to the overall group performance, which was described by group CEO Casper von Koskull as "not satisfactory". According to Nordea AM's own figures, some 81% of its portfolios outperformed benchmarks over three years to the end of June, while distribution made gains over the period across all distribution channels. Second quarter net flows hit €2.8bn, which was up on the first quarter, while the third party fund distribut...