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Acquisition of SKAGEN by Storebrand approved

The acquisition of SKAGEN by the Storebrand Group has now been approved by the relevant authorities.

Date: 07/12/17

An extraordinary general meeting has been held to determine the members of the new Board of Directors of SKAGEN.

Changes to the Board

Henrik Lisæth, Anne Sophie Stensrud and Frances Eaton depart as board members while Jesper Rangvid, Simen Vier Simensen and Kristoffer Stensrud depart as deputy members. Leiv Askvig changes position from board member to owner-elected deputy member.

Odd Arild Grefstad, CEO of Storebrand, has been appointed as the new Chairman of SKAGEN's Board. The current board members elected by the unit holders will remain.

SKAGEN's Board now consists of:

  • Odd Arild Grefstad, CEO of Storebrand (Chairman)
  • Kristian Falnes, Private investor and former Portfolio Manager in SKAGEN (member)
  • Jan Erik Saugestad, Executive Vice President Storebrand Asset Management (member)
  • Viveka Ekberg, former CEO in PP Pension and Board member in SPP (member)
  • Per Gustav Blom, Finance Director of the Norwegian Hull Club (unit holder representative)
  • Martin Petersson, CEO of Hallvarsson & Hallvarsson AB (unit holder representative)
  • Tove Selnes, CHRO Storebrand ASA (deputy member)
  • Leiv Askvig, Chief Executive officer at Sundt AS (deputy member)
  • Aina Haug, Country Manager at Laerdal Medical AS (unit holder deputy)
  • Employee representative – to be elected (observing member)

Øyvind Schanke, CEO of SKAGEN commented:

"We welcome the new Board members, all of whom have long and broad complementary experience. We look forward to their contribution in laying the grounds for the best possible long-term development of the company in the best interests of our clients in all markets. We would also like to take this opportunity to thank the outgoing Board members for their hard work and dedication to SKAGEN."

Full details about the Board can be found here.

Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skills, the fund’s risk profile and management fees. The return may become negative as a result of negative price developments. There is risk associated with investing in funds due to market movements, currency developments, interest rate levels, economic, sector and company-specific conditions. The funds are denominated in NOK. Returns may increase or decrease as a result of currency fluctuations. Prior to making a subscription, we encourage you to read the fund's prospectus and key investor information document which contain further details about the fund's characteristics and costs. The information can be found on www.skagenfunds.com. Storebrand Asset Management administers the SKAGEN funds which are by agreement managed by SKAGEN's portfolio managers.

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