Saxo Bank has purchased the entire share capital of Capital Four Management Fondsmaeglerselskab A/S and 51 % of the share capital of Global Evolution Fondsmaeglerselskab A/S. This is in line with its commercial strategy of developing the bank’s activities within the field of asset management. Its goal is to become a Nordic powerhouse within asset management.
The purpose of the acquisitions is to strengthen the companies’ distribution power and long-term positions as leading suppliers of asset management products in each of their niche areas. The expertise of Capital Four lies within European corporate bonds, with a focus on the High Yield market, while Global Evolution primarily operates within emerging market fixed income and FX. The acquisitions mean that portfolios (AUM) worth around DKK 14 billion are managed by Saxo Asset Management.
“We regard Capital Four and Global Evolution as among the leading European asset managers in their own sectors,” says Bjarne Thorup, the director for Saxo Banks Asset Management activities. “The companies are therefore eminently suited to our strategic purposes in asset management. Asset management is a question of trust, and it must create value for clients. This is totally in line with Saxo Bank’s online profile.”
Bjarne Thorup points out that both Capital Four and Global Evolution enjoy a very strong investment culture and impressive results. Their client lists consist of both Danish and, not least, international institutional clients. Saxo Bank will exercise its ownership in such a way that the two teams can retain their own character and autonomy in the investment process.
Saxo Bank acquired Sirius Kapitalforvaltning earlier this year. The asset management activities of the bank now include management expertise for Danish bonds, Danish equities, corporate bonds and emerging market bonds. In total, AUM amounts to DKK 14 billion. In addition to this, Saxo Bank has DKK 11 billion in AUM through its global activities in investment banking and online trading of a number of different asset classes.
D.C.