Director of Alexander Staden-Brod at Skagen Funds – he will manage his assets of a quarter of a billion dollars.

Director of Alexander Staden-Brod at Skagen Funds - he will manage his assets of a quarter of a billion dollars.

Alexander Stendrud (38) is resigning as director of the Skagen Vekst equity fund during the month of March. This was stated by the management company in a statement on Thursday.

Stensroud says he will run his own money when he now goes to Skagen. He had a tax-like fortune of nearly a quarter of a billion kroner at the start of 2021.

Staden Brod worked in the management firm for 14 years, which his late father Christopher Staden Brod helped establish in 1993. Christophers Staden Brod was also a manager of the Kon-Tiki stock fund for several years.

– Everything is on time. When summarizing last year, we concluded that we introduced to our clients and now I want to devote time to other things in life, says Stensrud to DN.

«Best of the World» «EIN TE»

Thanks to the successful management of his father, the family is sitting on a solid cash fund today. Father chose Stensrud In 2017 to distribute capital to their four children. DN wrote at the time that the distribution was NOK 692 million, and Father Stensrud stated that the generational change had been planned long ago:

This is because there are people in different life situations, with different perspectives on risks and different needs. It’s the best way to improve the portfolio, he says.

Alexander Stensrud, however, uses the word “we” and refers to his brothers, when he now says a little about what the days must be filled with:

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We have a lot of things to tackle in family companies. We have the best brewery in the world. We have Hotel Argod Norway, with the best restaurant in Norway. We have some forests, and we have a large stock portfolio. I can now spend more time on it.

Stensrud’s father was behind the creation of Lervig Aktiebryggeri in 2003, when the local brewery in Stavanger, Two Breggeri, was acquired by Rennes. Stensroud himself contributed to the beer “Ein T” gaining publicity. He was also beyond the fist of the family Eilert Smith Hotel in StavangerThis is where the famous Renaa Restaurant is located.

It should fix a billion dollar fortune

Already when Kristoffer Stensrud chose to move aside in 2017, Skagen saw a loss of some total assets, from 130 billion to 90 billion kroner. At the same time, a large number of key people left.

The fact that some of the capital has been withdrawn from the funds, is probably due to the fact that Skagen was sold to Storebrand in the same year. In total, the price of the administration building was NOK 1.6 billion, and Kristoffer Stensroud Nok received 560 million. Its co-founders Tor Dagvin Finn and Gebde Westbø received 560 million and 370 million, respectively.

The Solbakken sibling owned Solbakken Company has Storebrand stock worth over NOK 560 million.

stuck in russia

The Skagen Vekst fund is up 8.8 per cent last year, but it has also fallen 7.5 per cent so far this year. The fund has had an annual return over the past three years of 13.8 per cent, but according to Thornstar it lags behind the comforter index.

– I want to stress that there is no drama in this. My leaving is a decision I made myself. Stenfreud says Skagen’s Vekst has been among the North’s best money in the genre in recent years.

Skagen Vekst had total assets of about $8.9 billion at the end of January, and Russian stocks accounted for about 4.4 percent of the fund, DN wrote in another article on Thursday.

There, investment manager Alexandra Morris manages that Skagen Vekst has had an unfortunate development this year. Mainly due to exposure in four Russian stocks. Søren Director Milo is now responsible for Skagen Vekst.

Skagen Vekst is in very good hands with Søren Milo, who has been a portfolio manager at Skagen since 2010 and has had primary responsibility for the fund since 2018. Søren will continue to manage Skagen Vekst for the benefit of unit holders, Morris says in a press release on Stecsroud’s departure.(Terms)Copyright Dagens Næringsliv As and/or our suppliers. We would like you to share our statuses using a link, which leads directly to our pages. Reproduction or other use of all or part of the Content may be made only with written permission or permitted by law. with additional companies look here.

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Dalila Awolowo

Dalila Awolowo

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