Björn Edlund-Persson, Head of Nordic Sales at US-based asset manager Legg Mason, which recently opened a Stockholm office, believes that clients are becoming more cautious, writes Swedish business media Realtid.se.

"Several investors have experienced very strong returns in recent years. Therefore, they may be happy with a slightly lower return in the future, which explains why lately, some have lowered the risk in their portfolios," Edlund-Persson tells Realtid.se.

Legg Mason serves a vast array of investors from pension funds and insurance companies to family offices and other asset managers, Edlund-Persson explains to Realtid.se without mentioning names.

The new Stockholm office aims to serve the growing client base. "The new office underlines our commitment to the region. We are closer to our customers and believe that this will lead to an improved customer service,” says Edlund Persson.

He's currently the only staffer in the office, but the ambition is to grow, he explains to the Swedish media. According to the article on Realtid.se, the company has tripled its assets under management in the Nordic region over the past five years.

US-based asset manager to open Stockholm office in Nordic business push