Of all listed fund management companies in Finland, a boutique fund management firm called Alexandria has increased its market share the most over the past three years, reports Kauppalehti.

Based on the most recent Mutual Fund Report, Alexandria Fund Management Company’s market share in the three years prior to February increased by 37 percent relative to the company’s market share in February 2019. The company had EUR 779m in total assets at the end of last month.

In addition to Alexandria, United Bankers, eQ Fund Management Company, Ålandsbanken Funds and EAB Fund Management have also clearly increased their relative market share over the past three years.

Evli Fund Management Company, on the other hand, remains the only listed fund management company to have lost market shares during the same time period. In February 2019, Evli’s market share stood at 7.1 percent, and it had dropped to 6.6 percent last month.

According to Kim Pessala, Head of Institutional Wealth Management at Evli Bank, the decline can be largely explained by the events of 2020. He also notes that a significant portion of Evli’s new capital has come from alternative investment products that are not included in the Fund Report.

“In the spring of 2020, we saw a big outflow from Evli’s low-margin short-term funds. The reason for this was the interest rate crisis and the need for institutional investors to secure sufficient cash resources. Over the past year, Evli’s market share has been stable,” Pessala says to Kauppalehti.

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