Europe’s Fastest Growing Asset Manager Hits the Brake on Inflows
- Nordea is considering closing some funds to all investors
- Nordic lender seeing inflows from Italy, Spain, Germany
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Nordea Bank is learning there can be such a thing as too much money.
The pan-Nordic lender is putting a brake on inflows to several of its funds following a sudden surge in cash transfers from all over Europe. Through August, the fastest growing asset manager in Europe this year saw inflows of 14.6 billion euros ($16 billion), according to Morningstar Inc., raising the amount under management to more than 200 billion euros. That’s making it harder for Nordea to generate excess returns.