Fund Management

SEB's profit destroyed by FSA fine – AUM down by SEK 132bn since turn of the year

After a massive dive in March, SEB's AUM improved in the second quarter. Net operating profit at the division SEB IM & Group Function rebounded to a positive territory, only to be eradicated by an anti-money laundering fine from the Swedish FSA. (corrected)
Photo: Ints Kalnins/Reuters/Ritzau Scanpix
Photo: Ints Kalnins/Reuters/Ritzau Scanpix
by ANNE LOUISE HOUMANN

(Headline corrected on July 15, 17.40 CET: In an earlier version of the article, the headline said: SEB IM's profit destroyed by FSA fine – AUM down ..." Following the publication of this article, SEB has drawn attention to the fact that the FSA fine is not linked to SEB IM.  In the half-year report, the fine appears in the Investment Management & Group Funktions division, but only Group Funktions is associated with the fine, SEB informs AMWatch)

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