Carlson Investment Management, SEB and Alfred Berg are making the running in mandate wins for the outsourcing of Sweden’s Kommuner (Communes) and Landsting (Municipalities), according to a round up of awards to date by Carlson Investment Management.
Carlson leads the way in assets acquired from the approximately Skr12bn (e1.4bn) of assets outsourced so far with 17 mandates under its belt by mid September this year.
SEB and ABN AMRO-owned Alfred Berg are running closely behind on 13 and 10 wins respectively.
ABN AMRO has made a significant impression with eight mandates
of its own, and Morgan Stanley, Wasa, Banco and ABB have one mandate apiece.
Domestic managers Skandia and Folksam have seven and five wins respectively, with Öhman and Trevise on four.
FSB, the amalgamation of Sweden’s savings banks has eight contracts, Merita Nord Bank has five and Handelsbank three.
And signs are that the kommuner are gradually opening up to increased foreign investment with overseas equity allocations climbing from tentative averages of between 5-10% in 1995 /96 to current levels of 20-30%.