Carnegie Private Banking’s discretionary portfolio management (DPM) segment has demonstrated robust growth and strategic agility, exemplified by a 49% surge in assets under management in discretionary mandates during the awards period.
This expansion stems from sustained client inflows, strong portfolio performance and the integration of the operations and assets of acquisition Erik Penser Bank.
A pivotal driver of returns emerged from the team’s tactical stock market positioning: after maintaining neutrality through much of late 2023, the bank shifted to an overweight equities stance, which it persisted with until the second half of 2024, capturing upside momentum and delivering a material performance boost for clients.
Carnegie also advanced its sustainability agenda, reclassifying four additional portfolios Svenska Aktier, Svensk Alfa, All Cap and Nordic Equity Fund Screened – as Article 8 under EU regulations. This raised the proportion of Article 8-compliant portfolios to approximately 65% across discretionary mandates, with 75% of directly held equity assets in such strategies.