FIRST Fondene AS

Asset Managementfirstfondene.no

Company typePrivate
Founded2007
HeadquartersOslo, Norway
Headcount11–50
GTM typeB2B and B2C
OfferingServices

FIRST Fondene AS firmographics

Firmographics

Name: FIRST Fondene AS
Legal name: FIRST Fondene AS
Website: https://firstfondene.no
Company type: Private
Founded year: 2007
Operating status: Operating
Headcount range: 11–50 employees
Ownership category
akta.pro rank

FIRST Fondene AS industry classification

Industry

Product category: Asset Management
NAICS: Open-End Investment Funds (525910)
SIC: Investment Advice (6282)
akta.pro primary industry: Fund of Funds & Multi-Manager Mutual Funds (FSAAAEAL)

Keywords

Active asset management
Mutual fund management
Nordic equity funds
High yield bond funds
Wealth management services

Where FIRST Fondene AS is headquartered

Location

Headquarters

HQ city: Oslo
HQ country: Norway
HQ region: Europe

Offices1 record

Markets served

FIRST Fondene AS business model

Business model

GTM type: B2B and B2C
Offering type: Services
Cost components: Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

Management Fees: Ongoing management fees charged as a percentage of assets under management. Rates vary by fund: equity funds 1.25%-1.65%, bond funds 0.10%-0.85% annually.
Performance Fees (Success Fees): Performance-based fees (High Watermark model) for certain funds including FIRST Global Focus, FIRST Opportunities, FIRST Veritas, FIRST Nordic Real Estate, FIRST AllWeather, and FIRST Impact. Not charged for FIRST High Yield, FIRST Yield, or FIRST Liquidity.

Pricing tiers

Model	Billing	Price
Subscription	Annual	Equity Funds: FIRST Global Focus A, FIRST Opportunities, FIRST Veritas A, FIRST Nordic Real Estate, FIRST Impact A
Subscription	Annual	Combination Fund: FIRST AllWeather J
Subscription	Annual	Bond Funds: FIRST High Yield A, FIRST Yield A, FIRST Liquidity

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

FIRST Fondene AS product offering

Product offering

Core offering

FIRST Fondene AS is an independent Norwegian asset management company that operates and distributes nine actively managed mutual funds covering Norwegian/Nordic equities, global equities, Nordic listed real estate, a multi-asset combination fund, Nordic high yield bonds, Nordic investment grade bonds, and a money market liquidity fund. The company sells and redeems fund units directly through its own website and customer portal, and routes institutional and cross-border orders through Allfunds, Clearstream, and Euroclear FundsPlace (MFEX), charging recurring percentage-of-AUM management fees and, for select funds, high-watermark performance fees.

Product overview

FIRST Fondene AS is an independent asset management company offering a portfolio of actively managed investment funds. The product lineup consists of equity funds (FIRST Global Focus A, FIRST Opportunities, FIRST Veritas A, FIRST Impact A), a real estate fund (FIRST Nordic Real Estate), a combination fund (FIRST AllWeather J), and fixed income funds (FIRST High Yield A, FIRST Yield A, FIRST Liquidity). These funds span various asset classes including Norwegian, Nordic, and global equities, real estate, high yield bonds, investment grade bonds, and money market instruments. The funds are accessible through multiple distribution platforms including Allfunds, Clearstream, and Euroclear FundsPlace (MFEX).

Differentiator

Problem solved

Functional benefit

Products and services

FIRST Global Focus A Actively managed global equity fund investing in 15-25 undervalued global companies through concentrated portfolios, seeking the best possible risk-adjusted returns. SFDR Article 8, UCITS, traded in NOK. ISIN NO0010802556. Management fee 1.25%, performance fee with High Watermark, minimum investment NOK 1,000.
FIRST Opportunities Equity fund investing primarily in small and medium-sized Norwegian companies with strong balance sheets and growth potential across various sectors, seeking to identify tomorrow's winners. SFDR Article 8, UCITS, traded in NOK. ISIN NO0011073835. Management fee 1.65%, performance fee with High Watermark, minimum investment NOK 1,000.
FIRST Veritas A Model-based Nordic quality equity fund investing in 12-18 carefully selected Nordic companies based on ten years of historical performance and fact-based assessments. SFDR Article 8, AIF, traded in NOK. ISIN NO0010860158. Management fee 1.25%, performance fee with High Watermark, minimum investment NOK 1,000.
FIRST Nordic Real Estate Liquid real estate investment fund investing in 12-15 listed Nordic companies that own, develop, and lease property, providing exposure to the Nordic real estate market with high liquidity and diversification. Management fee 1.65%, performance fee with High Watermark, minimum investment NOK 1,000.
FIRST Impact A Sustainability fund investing globally in companies delivering solutions aligned with UN Sustainable Development Goals, focusing on sustainable societal solutions and growth. SFDR Article 8. Management fee 1.25%, performance fee with High Watermark, minimum investment NOK 1,000.
FIRST AllWeather J Combination fund designed to be robust in various market climates, investing broadly in Norwegian and global stocks as well as bonds, with active investment choices across asset classes. Management fee 1.65%, performance fee with High Watermark, minimum investment NOK 1,000.
FIRST High Yield A Actively managed high yield bond fund with a flexible investment mandate in the Nordic region, focusing on issuer and sector diversification, sector rotation, liquidity assessments, and credit exposure. Management fee 0.85%, no performance fee, minimum investment NOK 1,000.
FIRST Yield A Fixed income fund seeking annual returns of 1-3% above money market rates through active management of Nordic interest and credit markets, with at least 80% invested in Investment Grade securities. Management fee 0.30%, no performance fee, minimum investment NOK 1,000.
FIRST Liquidity Liquidity fund investing in shares of other Norwegian liquidity funds with interest-bearing securities having maximum maturity of one year and minimum BBB rating, providing low risk and high liquidity. Management fee 0.10%, no performance fee, minimum investment NOK 100,000.

Quantifiable outcome

Generated strong excess returns for clients since 2010 through active management
+2 more outcomes

Companies that use FIRST Fondene AS

Customer profile

Named customers1 record

Segments2 records

Ideal customer profiles2 records

FIRST Fondene AS technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Integration3 records

FIRST Fondene AS partnerships and signals

Strategic signal

Partnerships

Six partnerships are on record, tiered core.

Centevo ABcoreTechnology or IntegrationPortfolio system provider (porteføljesystem). FIRST migrated from Euronext VPS to Centevo's proprietary shareholder registry system in May 2026. Customers access holdings, transaction history, market values, and periodic reports through Centevo's customer portal.
ISS (Institutional Shareholder Services)coreStrategic or Co-development PartnerProxy voting service provider representing FIRST at shareholder meetings. ISS provides analyses and recommendations aligned with UN PRI principles for responsible investment voting.
AllfundscoreChannel Partner/ Reseller/ DistributorInternational fund distribution platform enabling streamlined fund trading and post-trade operations for institutional and retail investors.
ClearstreamcoreChannel Partner/ Reseller/ DistributorInternational central securities depositary (CSD) providing post-trade infrastructure, custody, and fund distribution services.
Euroclear FundsPlace (MFEX)coreChannel Partner/ Reseller/ DistributorFund marketplace platform enabling cross-border fund distribution and reporting across European markets.
SustainalyticscoreTechnology or IntegrationPrimary ESG data provider for sustainability risk assessment, used alongside Bloomberg and Nordic ESG for evaluating portfolio companies' environmental, social, and governance risks.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

FIRST Fondene AS competitors and assessment

Company assessment

Direct peers

ODIN Forvaltning AS: Norwegian boutique asset manager running a multi-fund lineup of actively managed Nordic and global equity funds for retail and institutional clients. Closely comparable business model (active equity/bond mutual funds, Nordic distribution, fee + performance revenue) and similar scale.
Fondsfinans AS: Norwegian independent asset manager offering actively managed equity, fixed income and balanced funds, headquartered in Oslo with a similar boutique structure. Direct overlap with FIRST on Norwegian/Swedish active equity strategies and on the issuer/institutional research model.
Delphi Fondene AS: Norwegian boutique manager of actively managed mutual funds (equity, fixed income, balanced) targeted at Norwegian retail and institutional clients. Multiple FIRST team members (Morten Berg, Aileen Utkvitne) previously worked at Delphi, evidencing direct product and operating overlap.
Skagen AS: Norway-based active asset manager (part of Storebrand) running value-oriented global, Nordic and emerging-markets equity funds. Highly comparable active-fund, Nordic-distribution business model with similar AUM scale and PRI signatory/ESG positioning.
Arctic Fund Management AS: Norwegian/Nordic active asset management arm of Arctic Securities, offering equity and fixed-income funds distributed in Norway and the Nordics. Directly competes with FIRST in Nordic small/mid-cap and high-yield strategies and shares channels like Allfunds.

Broad incumbents

Carnegie Asset Management: Nordic-based investment firm offering actively managed equity, fixed income and multi-asset funds as part of a broader investment-banking and wealth platform. Overlaps with FIRST in Nordic equity and high-yield strategies but operates at materially larger AUM and broader service scope.
DNB Asset Management AS: Largest Norwegian institutional asset manager offering diversified active and index strategies across equities, fixed income and alternatives. Competes with FIRST for institutional mandates and via retail platforms but offers a vastly broader product range and balance-sheet scale.
Storebrand Asset Management AS: Major Nordic asset manager (owns Skagen) running active and sustainable funds across all major asset classes. Directly comparable in Nordic active equity and high-yield product set but with much larger AUM and parent balance-sheet support.
KLP Kapitalforvaltning AS: Norwegian pension fund manager offering actively managed fixed-income and equity strategies domestically and across the Nordics. Overlaps with FIRST in Nordic IG and high-yield credit; differs in that mandates are largely captive pension capital.

Emerging players

Nordkinn Asset Management AB: Stockholm-based Nordic fixed-income boutique running high-yield and corporate bond strategies for institutional clients. Directly comparable to FIRST High Yield/Yield in mandate focus and Nordic high-yield specialisation, though smaller and credit-only.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

FIRST Fondene AS financial estimates

Financial estimate

Revenue estimate

Valuation estimate

FIRST Fondene AS leadership team

Management profile

Number of profiles

Profiles18 records

FIRST Fondene AS funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

FIRST Fondene AS M&A and investment

M&A and investment

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FIRST Fondene AS

What does FIRST Fondene AS do?

Is FIRST Fondene AS a public or private company?

FIRST Fondene AS is a private company. It is classified as corporate owned and is currently operating.

When was FIRST Fondene AS founded?

FIRST Fondene AS was founded in 2007. It employs 11 to 50 people.

Where is FIRST Fondene AS based?

FIRST Fondene AS is headquartered in Oslo, Norway, in the Europe region.

How does FIRST Fondene AS make money?

Two revenue lines are on record. Management Fees are the primary driver. The others are performance Fees (Success Fees).

Who are FIRST Fondene AS's main competitors?

Direct peers on record are ODIN Forvaltning AS, Fondsfinans AS, Delphi Fondene AS, Skagen AS and Arctic Fund Management AS. Broad incumbents are Carnegie Asset Management, DNB Asset Management AS, Storebrand Asset Management AS and KLP Kapitalforvaltning AS. Nordkinn Asset Management AB is listed as an emerging player.

Does FIRST Fondene AS have an API?

No public API is recorded for FIRST Fondene AS.

What industry is FIRST Fondene AS in?

FIRST Fondene AS's product category is Asset Management. Its primary akta.pro industry code is FSAAAEAL, Fund of Funds & Multi-Manager Mutual Funds. Its NAICS code is 525910 and its SIC code is 6282.