Nordea’s Storset takes stock of 2018 — the year when AUM plunged
As investors shifted their preferences towards riskier strategies, Nordea AM's Stable Return Fund suffered a multi-billion outflow in euro terms in 2018. But once market conditions change, Nordea AM's head expects the strategy to recover the lost ground.
As Snorre Storset, head of Asset & Wealth Management at Nordea, looks back over the year just ended — one in which assets under management (AUM) at the business fell 14 percent to EUR 283 billion — he notes that Nordea's flagship fund, the Stable Return Fund, saw outflows of EUR 5.5 billion in 2018:
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