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Saxo Bank acquires Capital Four and Global Evolution

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Saxo Bank has bought the entire share capital of Capital Four Management and 51 per cent of the share capital of Global Evolution.

Saxo Bank has bought the entire share capital of Capital Four Management and 51 per cent of the share capital of Global Evolution.

This is in line with its commercial strategy of developing the bank’s activities within the field of asset management. Its goal is to become a Nordic powerhouse within asset management.

The purpose of the acquisitions is to strengthen the companies’ distribution power and long-term positions as leading suppliers of asset management products in each of their niche areas.

The expertise of Capital Four lies within European corporate bonds, with a focus on the high yield market, while Global Evolution primarily operates within emerging market fixed income and FX.

The acquisitions mean that portfolios (AUM) worth around DKK14bn are managed by Saxo Asset Management.

Bjarne Thorup, director for Saxo Bank’s asset management activities, says: "We regard Capital Four and Global Evolution as among the leading European asset managers in their own sectors. The companies are therefore eminently suited to our strategic purposes in asset management. Asset management is a question of trust, and it must create value for clients. This is totally in line with Saxo Bank’s online profile."

Sandro Naf, chief executive of Capital Four, says: "Saxo Bank has just completed its most successful year ever and posted record revenues and profit. In times of heightened customer awareness of financial stability, we are particularly happy to have found a sponsor with deep resources and solid recognition. During the last ten years, we have built a disciplined and robust investment process and developed a wide range of long-term relationships with domestic and international clients. This transaction will allow us to continue to offer our services in a seamless fashion and will strengthen our organisation going forward."

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