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Retail investors in Denmark snubbed smaller managers in 2021

Nordea won the battle for retail investors’ hearts last year, while rival Danske Bank was left licking its wounds -- though it did better than previous years. Smaller managers like Formupleje lost market shares, but expect progress in 2022.

Formuepleje's office in Hellerup | Photo: PR / Formuepleje

The retail investor side of the Danish fund managers’ business had a 2021 that can be summed up in a simple expression: close, but no cigar.

The first 11 months of the year were characterized by strong growth, but December disappointed, as retail investors withdrew DKK 600m (EUR 80.6m) from investment funds. This means the record amount invested by private investors in 2020 still stands -- and there was no cigar for the industry this time.

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