Storebrand becomes main asset manager of Gjensidige Forsikring's investment portfolio
Storebrand Investments will from year-end manage the major part of Gjensidige Forsikring's investment portfolio. The mandate, which is won after a comprehensive offering process, represents NOK 25 billion in assets under management.
The mandate is the largest that has been out for open competition in the Norwegian market. The mandate is allocated in different asset classes, with its major part in fixed income portfolios.
- For Storebrand Investments this assignment strongly confirms that our asset management area represents high business quality. In addition to competitive returns, a mandate like this obliges that we satisfy comprehensive requirements to operations in back and middle office, says Hans Aasnaes, Managing Director in Storebrand Investments.
Gjensidige Forsikring will become Storebrand Investment's largest external customer, and this involves that total assets under management exceed NOK 200 billion. External assets under management will double in size and exceed NOK 50 billion.
Oslo, November 18, 2005
Contact persons: <br> Egil Thompson, Director of Corporate Communications <br> Tel: +47 22 48 95 86 Mobile +47 93 48 00 12 <br> Nils Robert Hodnesdal, Investor Relations <br> Tel: +47 22 31 55 33 Mobile +47 93 40 38 13