Danske boards open architecture bandwagon
Danish manager selects Aberdeen to run Ł246m in equity funds.
Denmark’s largest fund group Danske Invest is to follow the example of banks in adopting an increasingly open architecture.
The DKr90bn (E12bn) mutual fund provider has hired Scotland’s Aberdeen Asset Managers to run E246m in global emerging market equities and Asia ex-Japan equities.
Finn Kjærgård, executive vice- president, Danske Invest, revealed that he planned to outsource further assets this year. He added that while he is an advocate of open architecture, Aberdeen was brought in to replace Danske affiliate Danske Capital, which has decided to concentrate solely on developed equity markets.
The mandates will be run under Aberdeen’s group head of equities Hugh Young.
The Danske Group will meanwhile be stepping up its activities overseas, including the recently announced plan to boost its branch presence in Sweden.
