Discretionary mandates

Norwegian equities

Discretionary fund management does not fall within the same regulations as traditional mutual funds, which means the management is not constrained or restricted by rules with regards to the size of the underlying holdings. The service is suitable for clients investing through a holding or investment firm. For private investors, discretionary management will not be tax beneficial unless the investing is done within an equity savings account.

• The management fee varies with the size of the mandate
• As a client, you have the choice of a fixed fee and a return-based fee
• Minimum size of investment is NOK 10 million
• You will be a direct shareholder in the underlying companies through your VPS- account

Discretionary equity management has been a central part of our business since the very beginning. Einar Løvoll has been the responsible portfolio manager since 1997. In addition to the discretionary mandates, Einar and his team also manage the equity fund Pareto Aksje Norge. The security selection is based on long-term, fundamental analysis, and the number of companies in the portfolio is concentrated. The team typically invests in sectors and industries where Norwegian companies have a competitive advantage. Key selection criteria are financial solidity, profitability and reasonable price multiples.

Fixed income

Discretionary management of fixed income portfolios allows for a large degree of individual customisation, in line with needs and requirements concerning maturity, credit quality, liquidity, diversification/concentration and exclusion of industries or companies from ethical considerations.

The service is suitable for investors with a clear strategy and/or investment framework to comply with. Any restrictions and constraints will be incorporated into the agreement, which will be defined in advance. The discretionary managed fixed income portfolios do not necessarily reflect the allocation or distribution in any of our fixed income funds.

• The management fee varies with the size of the mandate
• As a client, you have the choice of a fixed fee and a return-based fee
• Minimum size of investment is NOK 50 million

Portfolio management team