Improved earnings in tough equity markets
· Operating earnings of NOK 8 million · Gross subscriptions of NOK 482 million, of which NOK 421 in portfolio accounts · NOK 8.6 billion invested in portfolio accounts, which equals 30 per cent of client’s equity · Equity in portfolio accounts remains stable despite the turmoil in the financial marketsThe European debt crisis has become even more critical over the last few months, while the economical growth has been weaker. The politicians have proved to have difficulties in finding a joint solution to the financial problems, and the markets have reacted negatively to this