SKAGEN Fondene

What SKAGEN Fondene does

SKAGEN Fondene is a Stavanger-based Scandinavian mutual fund management company founded in 1993. The firm offers actively managed equity and bond funds following a value-based investment philosophy that targets undervalued companies with long-term appreciation potential across global markets. Since October 2017, SKAGEN has been owned by Storebrand Asset Management AS (a subsidiary of the publicly listed Storebrand ASA), continuing to operate as an independent company within the Storebrand group, and serves retail and institutional investors primarily across Norway, Denmark, and Sweden with distribution conducted through bank intermediaries and direct institutional client servicing.

The product portfolio comprises five core equity funds — SKAGEN Kon-Tiki A (emerging markets), SKAGEN Global A (global equities), SKAGEN Focus A (concentrated global), SKAGEN Vekst A (Nordic/global), and SKAGEN m2 A (global real estate equities) — supported by the SKAGEN Avkastning bond fund and the SKAGEN Select packaged portfolios. SKAGEN has gradually rationalized its bond fund range, closing SKAGEN Tellus in October 2022. Management fees on equity funds range from 1.00% to 2.00% annually. Operating revenues of 929 million NOK and net profit of 156 million NOK were reported in 2015 on assets under management of 99 billion NOK; more than half of AUM originated from customers outside Norway.

Revenue is generated through recurring management fees on assets under management, denominated in NOK. Go-to-market is sales-led, combining bank-based retail distribution, direct institutional sales, and broad-spectrum digital marketing (LinkedIn, Facebook, X/Twitter, monthly newsletters, quarterly webinars, the annual New Year Conference, and content marketing). Competitive differentiators cited include SKAGEN's 30-plus-year investment track record, fundamental research-led stock selection, and concentrated long-term portfolios, with external recognition including the Lipper Fund Award for SKAGEN m2 in 2019 and Morningstar's Best Norwegian Bond Fund 2015 for SKAGEN Avkastning.

Name

SKAGEN Fondene

Legal name

Storebrand Asset Management AS

Website

https://skagenfondene.dk

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

51–100 employees

Short description

SKAGEN Fondene is a Norwegian asset management company, founded in 1993 and owned by Storebrand Asset Management, offering actively managed value-based equity and bond funds to retail and institutional investors across Scandinavia and internationally through bank and direct institutional channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Københoved

HQ country

Denmark

HQ region

Europe

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Management fees on equity funds: SKAGEN generates revenue through management fees charged on assets under management across its equity and bond fund range. Fee rates vary by fund, ranging from 1.00% to 2.00% annual ongoing charges.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels8 records

Core offering

SKAGEN Fondene is a Norwegian asset management company founded in 1993 in Stavanger that offers actively managed equity and bond funds. The firm manages a range of single-country, regional, and global mutual funds and also distributes combined fund packages to investors.

Product overview

SKAGEN Fondene is a Scandinavian investment fund company offering a portfolio of actively managed equity and bond funds. The core offering consists of five equity funds: SKAGEN Kon-Tiki A (emerging markets), SKAGEN Global A (global equities), SKAGEN Focus A (concentrated high-conviction), SKAGEN Vekst A (Nordic/global value), and SKAGEN m2 A (global real estate equities). The company also offers bond funds including SKAGEN Avkastning, and fund packages under the SKAGEN Select brand. All funds follow SKAGEN's value-based investment philosophy focused on finding undervalued, underpriced companies. The funds are denominated in Norwegian kroner (NOK) and are available for investment through banks. Storebrand Asset Management owns SKAGEN Fondene.

Differentiator

Problem solved

Functional benefit

Brands

• SKAGEN Select: Fund packages offering different risk profiles (Select 100, Select 80, Select 60, Select 30, Select 15).
• SKAGEN Kon-Tiki
• SKAGEN Global
• SKAGEN Focus
• SKAGEN Vekst
• SKAGEN m2

Products and services

• SKAGEN Kon-Tiki A Equity fund focused on emerging-market companies with a value-investment approach, for retail and institutional investors.
• SKAGEN Global A Global equity fund investing in undervalued companies worldwide, primarily for retail investors.
• SKAGEN Focus A Concentrated global equity fund holding a limited number of positions for investors seeking high-conviction exposure.
• SKAGEN Vekst A Fund investing primarily in Norwegian listed equities, for investors seeking domestic market exposure.
• SKAGEN m2 A Global real-estate equity fund for investors seeking listed property exposure.
• SKAGEN Avkastning Actively managed Norwegian bond fund for investors seeking fixed-income exposure.
• SKAGEN Select Pre-mixed fund-of-funds package combining several SKAGEN equity and bond funds for diversified retail allocation.

Quantifiable outcome

• SKAGEN Kon-Tiki delivered 28% return in EUR in 2025, beating reference index by 10 percentage points, ahead of index over 3 and 5 years
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor.

• SOS BørnebyerneminorOthersSKAGEN Fondene has partnered with SOS Children's Villages for 10 years, sponsoring a school in Viet Tri, Vietnam with 1250 students. The partnership includes education, school materials, teacher training and maintenance. SKAGEN renewed the 3-year agreement in 2016.
• Dansk VarmblodminorOthersSKAGEN Fondene has been engaged in Danish horse riding sport as main sponsor for the Danish Warmblood stallion licensing for 5 years, and renewed the agreement for another 2 years in 2018.
• Skagens KunstmuseerminorOthersSKAGEN Fondene has maintained a partnership with the Skagens Art Museums for over 10 years, which was renewed for another 3 years in October 2019.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• BlackRock: World's largest asset manager offering both index (iShares) and active strategies. Sets the fee and product benchmark against which Nordic active managers like SKAGEN must compete for institutional and retail AUM.
• Storebrand Asset Management: SKAGEN's parent company and Norway's leading capital manager, offering a broader multi-asset and ESG-integrated product range. Comparable as a broad incumbent within the Storebrand group that overlaps with SKAGEN on Norwegian institutional mandates.
• Nordea Investment Management: Nordics-based, pan-European asset manager serving institutional and retail clients with active and quantitative strategies. A direct competitor for pan-Nordic institutional mandates alongside SKAGEN.

Direct peers

• DNB Asset Management: Norway's largest asset manager offering equity, fixed-income and balanced funds to retail, institutional and corporate clients across the Nordics. Highly comparable to SKAGEN as a domestic competitor for Scandinavian retail fund distribution and institutional mandates, and previously the employer of SKAGEN's Investment Director.
• Swedbank Robur: Sweden's largest retail-focused asset manager with active equity and mixed-allocation funds. Overlaps with SKAGEN in bank-distributed retail and value-style active equity.
• Handelsbanken Fonder: Asset management arm of Handelsbanken with Nordic and European equity, fixed-income and balanced funds distributed primarily via the bank's branch network. Mirror of SKAGEN's bank-channel distribution model in Sweden/Norway.
• SEB Investment Management: Major Swedish asset manager offering active equity, fixed-income and multi-asset funds across the Nordics and Europe. Highly comparable customer base and fund-of-fund/packaging offerings (e.g., SKAGEN Select versus SEB's asset-allocation products).
• ODIN Fond: Norwegian active equity fund manager offering value-driven European and Nordic funds to retail and institutional investors in Scandinavia. Directly comparable to SKAGEN's Kon-Tiki/Vekst/Focus strategies in investment philosophy and customer segments.

Regional players

• Carnegie Investment Bank: Nordic investment bank with proprietary asset management and wealth advisory businesses in the Nordics. Comparable as a regional player offering active equity strategies with similar institutional/private banking distribution.
• Alfred Berg Kapitalforvaltning: Norwegian active asset manager owned by BNP Paribas Asset Management, covering Nordic and European equity and fixed-income funds. Comparable Nordic retail/institutional competitor to SKAGEN, especially within Norwegian bank channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/skagenfondene
• Facebookfacebook.com/skagenfondene
• LinkedInlinkedin.com/company/56856
• Instagraminstagram.com/skagenfondene

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

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

M&A

Investments

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

Frequently asked questions about SKAGEN Fondene