Stockholm (NordSip) – Nordea Asset Management scored its highest level of inflows in 2016, according to Q4 and yearly figures made available today. “Fee and commission income was up 1% in local currencies compared to 2015, mainly driven by Asset Management, where revenues were up 9% on the back of higher volumes,” Nordea’s report stated.
Momentum improved on a 12-month rolling basis: “Inflow reached an all-time high of €19.3 billion. Asset Management maintained its strong momentum in sales and revenues in all customer segments.” Nordea was ranked #1 in Europe based on net flow YTD by Morningstar as of end November.
Nordea Asset Management was named MultiAsset Manager of the year in Q4, and also won an award for the best ESG process in Europe from cfi.co – its third in a row.
“Investment performance was strong in 2016, with 81% of composites outperforming benchmarks. The 3-year performance remains strong and above target with 85% of all composites outperforming their benchmarks. Asset Management income was €239m in Q4, up 11% from the previous quarter and up 17% from the same quarter last year. The increase was due to a growth in average AUM. Operating profit was €175m, up 15% from the previous quarter and up 22% from the same quarter last year,” Nordea discloses.
“2016 was probably the most eventful year in the history of Nordea,” says Casper von Koskull, president and Group CEO. “Continued negative rates, regulatory uncertainty and digital transformation have been in focus for the sector. The unexpected outcome of both the referendum in the UK and the US presidential elections created short term turmoil on financial markets, although it seems like investors have become accustomed to dealing with geopolitical uncertainties,” he said.
Picture: (c) Vytautas Kielaitis — shutter stock.com