Danske Bank buys Norwegian
investment management company
Danske Bank buys Norwegian  investment management company

September 7, 2005

Press release
Fokus Bank in Norway, which forms part of the Danske Bank Group, has agreed to buy Fondsfinans Aktiv Forvaltning ASA, an investment management company, from the Norwegian Fondsfinans Kapitalforvaltning Holding AS. The company’s NKr2.2bn assets under management will become part of Danske Capital Norway. Three employees engaged in the asset management activities of Fondsfinans will join Danske Capital Norway, which today has a staff of nine and assets worth NKr5bn under management.

Danske Bank’s investment management division, Danske Capital, had assets totalling DKr435bn under management at the end of June 2005 and operates in Denmark, Norway, Sweden, Finland Estonia and Luxembourg.

“The international operations are increasingly important for Danske Capital and today account for 20% of our revenue,” says Niels-Ulrik Mousten, Managing Director of Danske Capital. “The acquisition of the Norwegian investment management company is part of Danske Capital’s strategy to be a leading Nordic investment manager and will provide a good basis for further growth in the Norwegian market.