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Nykredit is starting to see the Sparinvest acquisition bearing fruit – AMWatch

Especially the value strategies and Sparindex are attracting capital, head of Wealth Management, Peter Kjærgaard, told AMWatch.

Thursday, 10. February 2022

Net sales at subsidiary Sparinvest boosted Q4 growth in assets under management at Nykredit, wrote AMWatch.

”When looking back on 2021, it stands out as the year we started reaping the results of merging the two companies. On the distribution side, we see the good collaboration with the Sparinvest partner banks starting to bear fruit as well as the effects from the good Sparinvest products,” said Kjærgaard according to AMWatch.

In 2019, Nykredit acquired the then DKK 97bn (EUR 13bn) independent asset manager Sparinvest.

“Sparinvest’s assets under management reached DKK 153bn (EUR 20.6bn), starting the year at DKK 110bn (EUR 14.8bn). That is – to put it simply – a pretty impressive growth,” said Kjærgaard according to AMWatch.

“It’s been a special year, where we have seen strong performance in both our growth/quality and value strategies. That’s unusual,” said Kjærgaard according to AMWatch.

Last year, the value strategies, which date back to the 1980s, saw an AUM increase of DKK 9.1bn (EUR 1.2bn), with 4.8bn (EUR 445m) from net sales and DKK 4.3bn (EUR 578m) in returns, according to AMWatch.

”We see great demand for our value strategies, especially Sparinvest European and Global Value Equities, where we have won some mandates, especially in the second half of the year. This is due to the value style and the fact sustainability is deeply incorporated into the strategies. We see that investors want the combination, and Sparinvest Value Aktier has hit a nerve,” said Kjærgaard.

According to AMWatch, also, the passive fund range, Sparindex, attracted investors.

Nykredit took over fund manager Sparinvest in 2019 from 49 Danish banks, which are still an essential part of the distribution network. As Denmark’s largest mortgage group, Nykredit also collaborates with the same group of small and regional banks via subsidiary mortgage bank Totalkredit, which was also previously owned by these banks.

Read the AMWatch article here (perhaps behind a paywall)

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