Nordea Asset Management is planning to further expand its presence in the wider European market by increasing staff numbers by as much as 15%, as well as unveiling a host of new funds and portfolio managers.

Speaking to Bloomberg, Nils Bolmstrand, who was named CEO of Nordea AM in January, said he expects to add 50 to 100 new employees this year, which would include additional analysts and portfolio managers.

Bolmstrand said the new hires would build on the 60 employees added across the asset manager in 2016, and also pave the way for new strategies, most notably under its Stars fund range.

Nordea AM has undergone several changes since the start of the year, which includes consolidating the fundamental equities team, which brought global, European and emerging market equities under one centralised house view.

In addition, the firm bolstered its much-followed multi-asset range in January with the launch of the Nordea Flexible Fixed Income Plus fund for its head of macro strategy, Karsten Bierre.

Bierre is supported by Claus Vorm, Kurt Kongsted and Asbjørn Trolle Hansen, who run the Nordea 1 – Stable Return fund, which was the biggest selling cross-border fund in 2016 despite soft-closing in September.

Bolmstrand said increased inflows into the asset management arm had driven the need to add more managers, as well as further diversifying the fund range.

An example of the continued growth in assets was seen in January when the firm soft-closed the Nordea 1 – Stable Emerging Markets Equity fund after it swelled to $1.74 billion in assets.