Next Kapitalforvaltning

What Next Kapitalforvaltning does

Next Kapitalforvaltning AS is a Norwegian securities firm (verdipapirforetak) headquartered in Sandefjord, Norway, licensed by Finanstilsynet to provide investment services including order reception/transmission and investment advisory. The firm serves long-term individual investors in the Norwegian market with a value proposition centered on independence from product-selling incentives, cost transparency, and disciplined portfolio construction grounded in Modern Portfolio Theory. The firm operates with 1-10 employees under CEO Robert Pedersen (Daglig leder).

The firm's product architecture consists of four core model portfolios — Next Kjerne (broadly diversified across regions and sectors), Next Faktor (global factor funds), Next Norge (Norwegian equities), and Next Utbytte (Norwegian dividend stocks) — supported by four service modules: strategy selection, strategic asset allocation, security selection, and ongoing portfolio monitoring by an in-house investment committee. Fund selection leverages Morningstar's external ratings, and Nordnet and Stack by Me serve as account custodians. Clients receive a dedicated login for daily portfolio monitoring and individual follow-up plans. All advisors are authorized under Finansnæringens autorisasjonsordning.

Revenue is generated through AUM-based management and advisory fees on client portfolios, with no public pricing disclosed. The go-to-market is relationship-driven, supported by a content marketing motion consisting of a blog, periodic market reports, and email newsletters targeting Norwegian long-term investors. The firm operates solely within Norway, with no disclosed geographic expansion, funding events, M&A activity, or AI/ML capability development.

Name

Next Kapitalforvaltning

Legal name

Next Kapitalforvaltning AS

Website

https://nextkapital.no

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1–10 employees

Short description

Next Kapitalforvaltning AS is a Finanstilsynet-licensed Norwegian securities firm in Sandefjord offering AUM-based investment advisory and portfolio management across four model portfolios (Next Kjerne, Next Faktor, Next Norge, Next Utbytte) for long-term Norwegian individual investors.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Portfolio Construction & Asset Allocation Advisory (FSAEAAAC)

Keywords

• Investment advisory
• Portfolio management
• Asset allocation
• Wealth management
• Fund selection

Headquarters

HQ city

Sandefjord

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Wealth Management and Investment Advisory Fees: Next Kapitalforvaltning is a securities firm (verdipapirforetak) licensed by Finanstilsynet to provide investment services. The firm offers comprehensive investment portfolio management and follow-up. Revenue is generated through AUM-based management and advisory fees charged on client portfolios under management.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Next Kapitalforvaltning AS provides holistic investment portfolio management and advisory services to long-term investors, built around four core model portfolios (Next Kjerne, Next Faktor, Next Norge, Next Utbytte). The firm combines actively managed funds and index management under a Modern Portfolio Theory framework, with strategic asset allocation, Morningstar-supported fund selection, and continuous portfolio monitoring by an in-house investment committee.

Product overview

Next Kapitalforvaltning is a securities company (verdipapirforetak) licensed by Finanstilsynet offering holistic investment portfolio management and advisory services. The company operates a platform-plus-modules architecture with four core model portfolios: Next Kjerne (broadly diversified), Next Faktor (global factor funds), Next Norge (Norwegian equities), and Next Utbytte (Norwegian dividend stocks). These core products are supported by four sub-products covering strategy selection, strategic asset allocation, security selection, and ongoing portfolio monitoring. The investment process is grounded in modern portfolio theory, combining actively managed funds with index management, and uses Morningstar analysis for fund selection. The company maintains independence as a core principle, collaborating with Nordic account keepers Nordnet and Stack for custody services.

Differentiator

Problem solved

Functional benefit

Brands

• Next Kjerne: A main portfolio managed by Next Kapitalforvaltning, broadly diversified between regions and sectors.
• Next Faktor
• Next Norge
• Next Utbytte

Products and services

• Next Kjerne A broadly diversified model portfolio across regions and sectors, designed for long-term investors with lower volatility relative to the world index and other reference indices. Built on Next Kapitalforvaltning's core investment philosophy of disciplined long-term strategy.
• Next Faktor A global model portfolio mandated to invest in global factor funds, designed to fluctuate naturally with the market and provide factor-based exposure for long-term investors.
• Next Norge A Norwegian-focused model portfolio that follows the Norwegian market while seeking to outperform through active management and disciplined strategy selection.
• Next Utbytte A Norwegian model portfolio focused on dividend-generating investments, following the Norwegian market while targeting outperformance with lower risk through active management.
• Valg av strategi Strategy selection service for long-term investors, grounded in empirical evidence that asset class selection can explain up to 90% of returns. Used to establish the foundation for future wealth building.
• Strategisk aktivaallokering Strategic asset allocation service involving ongoing evaluation and small adjustments to model portfolios based on the firm's prevailing market outlook, aimed at creating excess return through tactical positioning while maintaining a long-term framework.
• Valg av verdipapirer Security selection service leveraging 20 years of experience to identify high-quality funds and investment products, with fund selection performed in close collaboration with Morningstar using only highly rated funds.
• Oppfølging Ongoing portfolio monitoring and follow-up service with individual follow-up plans for each client. Portfolios are continuously monitored by the investment committee, complemented by a dedicated client login for daily portfolio viewing and ongoing newsletter updates.

Quantifiable outcome

• Next Kjerne portfolio returned 3.6% year-to-date and 12.2% over the last 12 months with lower volatility than the world index and other reference indices (H1 2025).

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• NordnetcoreOthersNext Kapitalforvaltning collaborates with Nordnet as one of their account custodians (kontoførere). Nordnet is a Nordic online brokerage and savings platform that holds client investment accounts.
• Stack by MecoreOthersNext Kapitalforvaltning collaborates with Stack by Me as one of their account custodians (kontoførere). Stack is used as an account-keeping platform for client portfolios.
• MorningstarcoreTechnology or IntegrationFor fund selection and analysis, Next Kapitalforvaltning uses Morningstar, which is described as one of the world's leading analysis tools for funds and investment solutions. Morningstar provides independent fund research and ratings that support the firm's fund selection process.
• Finansnæringens autorisasjonsordningcoreOthersNext Kapitalforvaltning is a member of Finansnæringens autorisasjonsordning (the Norwegian Financial Industry's Authorisation Scheme), and all their advisors are authorized within savings and investment. This is a regulatory membership that validates advisor competence.

Recent moves6 records

Expansion highlights4 records

Direct peers

• ODIN Forvaltning: Norwegian asset manager offering a range of actively managed equity and fixed-income funds to retail and institutional clients. Closely comparable to Next's fund-of-funds/portfolio construction model targeting Norwegian private investors.
• Arctic Fund Management: Norwegian asset manager focused on Nordic and global equities for institutional and retail clients. Comparable boutique Norwegian manager with active, research-driven portfolios similar in structure to Next's core offerings.
• Skagen Fondene: Norwegian value-oriented asset manager (part of Storebrand) managing global and Nordic equity funds for retail investors. Comparable to Next in serving Norwegian retail savers through actively managed fund portfolios, though at significantly greater scale.
• Pareto Asset Management: Norwegian asset management arm of Pareto Securities, managing Nordic equity, fixed-income, and alternative funds. Comparable as a Norwegian research-driven manager serving retail and institutional investors with active mandates.
• Alfred Berg: Norwegian/Nordic asset manager (now part of BNP Paribas Asset Management) offering actively managed funds and portfolio solutions. Comparable to Next in the Norwegian retail advised-portfolio market, though with broader institutional reach.
• Holberg Fondsforvaltning: Independent Norwegian boutique fund manager offering actively managed funds to retail and institutional clients. Highly comparable to Next Kapitalforvaltning as a small, independent Norwegian investment firm built on disciplined, research-driven processes.

Broad incumbents

• DNB Asset Management: Largest Norwegian asset manager and part of DNB Group, offering a full suite of actively managed and index funds plus discretionary portfolio management. Comparable in offering breadth but vastly larger and bank-distributed.
• Storebrand Asset Management: Major Norwegian asset manager and life insurer managing pension assets, retail funds, and discretionary mandates. Overlaps with Next's retail portfolio advisory, but operates at institutional scale with captive pension capital.
• KLP Kapitalforvaltning: Asset management arm of Norway's largest pension provider, managing mutual funds and mandates for retail and institutional clients. Comparable as a Norwegian fund provider serving similar long-term Norwegian retail savers.

Others

• Nordnet: Nordic online savings platform and broker that serves as Next's custodian partner and also offers competing advisory and savings products to Norwegian retail investors. A direct infrastructure dependency and an adjacent competitor in advised savings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/-konomiforvaltning-as

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 Next Kapitalforvaltning