DNBNOR - SUBSIDIARY TAKES OVER ASSET MANAGEMENT OPERATIONS

DnB NOR subsidiary takes over SkandiaBanken`s asset http://www.newsweb.no/index.asp?melding_ID=96973 management operations The DnB NOR company Carlson Investment Management AB has entered into an agreement with Swedish SkandiaBanken to take over the bank`s asset management operations. The agreement encompasses discretionary management of assets for a total of SEK 2.5 billion for around 450 retail customers and small companies in Sweden. Carlson Investment Management AB is a subsidiary in the DnB NOR Group. DnB NOR Asset Management manages assets for a total value corresponding to NOK 490 billion for institutional clients and retail customers, offering both tailor-made solutions and mutual funds. Half of the assets are managed on behalf of Swedish institutional clients. DnB NOR Asset Management has around 100 analysts and portfolio managers in eight offices around the globe: Oslo, Bergen, Stockholm, London, Luxembourg, New York, Hong Kong and Chennai (India).