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Nordea AM consolidates fundamental equities team

Nordea AM consolidates fundamental equities team

Nordea Asset Management has brought all of its international equity funds under the scope of its fundamental equities team in an effort to strengthen its management organisation.

The move means the 29-strong team will now collectively oversee all global, European and emerging market equity strategies under one central investment house view and shared analytics platform.

This team, which is overseen by Kasper Elmgreen, has therefore increased in size and involves Elmgreen relinquishing funds under his remit.

This sees him step back from the Nordea 1 – Emerging Consumer fund, with Daniel Ovin transferred from the recently launched Nordea 1 – Global Stars Equity fund to succeed him.

Ovin oversaw the launch of the Nordea 1 – Global Stars Equity fund with former Skagen fund manager Johan Swahn in May 2016. Swahn remains on the fund and is also responsible for the Nordea 1 – Global Ideas fund.

While Elmgreen steps back from the Emerging Consumer fund, he remains the sole lead on the Nordea 1 – European Focus Equity fund. He also co-runs two Denmark-domiciled funds with Thomas Sorensen, the Nordea Eurooppa Kasvu and Nordea Invest Europa funds.

Elmgreen succeeded Mark Lovett, head of equities, who has been acting head of fundamental equities since the start of 2016 when Mathias Leijon moved to serve as co-head of Nordea Corporates and Institutions.

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