Net inflows at DNB Asset Mangement decreased in Q2

The asset management department at Norway's largest banking group increased assets under management in Q2, although net inflows decreased compared to Q1.

DNB's Headquarters in Bjørvika, Oslo. | Photo: PR/DNB

The asset management arm of Norway's biggest bank saw assets under management increase by 5.3 percent between the end of the first and second quarters to NOK 829bn (EUR 80.4bn).

DNB is the first of the largest Nordic asset managers to publish second-quarter results.

Since year-end, assets under management at DNB have increased by 11.7 percent, and on a yearly basis, assets have risen by 24.1 percent.

Net inflows are still positive but have decreased compared to the first quarter of the year.

The total net inflow for the second quarter was at NOK 13.1bn (EUR 1.3bn) compared to NOK 25.3bn (2.5bn) in Q1. Inflows from institutional clients were particularly affected, diving to NOK 5.4bn (EUR 524m) at the end of Q2 from NOK 16.4bn (EUR 1.6bn) at the end of Q1. Net inflow from retail clients fell to NOK 7.7bn (EUR 747m) from NOK 9bn (EUR 873m).

DNB has calculated its markets share of retail funds based on numbers from the Fund and Asset Management Association in Norway. According to the DNB Q2 report, the total market share for retail funds fell slightly to 35.1 percent compared to Q1, but is up compared to Q2 2020, when it was 34.9 percent. 

Profit for DNB Asset Management landed at NOK 193m (EUR 18.7m) in the second quarter compared to NOK 189m (EUR 18.3m) for Q1 and NOK 141m (EUR 13.7m) for Q2 2020. 

The second-quarter profit at DNB Asset Management corresponds to 3 percent of the total DNB group profit of NOK 6.4 bn (EUR 621m).

Head of DNB WM sees a new super trend in the retail segment 

Net inflows account for more than half of AUM increase at DNB AM 

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