Asset allocation in numbers
€25
AUM (bn)
50
mandates
0.74%
excess return
9
professionals
Building resilient portfolios drawing on time-tested strategies
We bring together the latest insights and opportunities within conventional and alternative investments to help you build future-proof portfolios - adapted to your needs. Our clients range from pension funds, endowments to high-net-worth individuals.
Asset allocation:
Does it add value?
The short answer is yes! Academic research states that strategic asset allocation accounts for 85% of the portfolio return. Storebrand's tactial allocation has on average attributed 0.74% annual excess return to our clients' portfolios.
Our services
Portfolio strategy and optimisation
We provide advice and leading thinking on strategic asset allocation to help our clients build resilient and future-proof investment strategies tailored to their specific needs.
Tactical and rule-based
As a full-service provider we deliver both tactical and rule-based asset allocation services to our clients. Tactical allocation enables us to capitalize on market opportunities to lock in excess returns.
Portfolio construction:
How do we work?
Portfolio construction is an iterative process where we continuously refine and adjust the portfolio in response to changing market conditions and emerging opportunities.
Investment philosophy
Long term trend followers, short term contrarians
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Macro-oriented top-down approach
We spend significant time identifying where we are in the economic cycle, and where we believe the economy is heading in the future. We focus on turning points and macro moment - direction is more important than level.
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Global growth cycle is the cornerstone of the investment process
We follow cycles in inflation and the companies' results closely, in addition to developments in absolute and relative risk premiums.
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Fundamental approach to decisions
We base our investment decisions on fundamental conditions surrounding the business cycle. Growth and inflation are leading indicators for returns and risks for various asset classes.
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Investment horizon of 3-12 months
We seek to exploit the trends, which are characterized by self-reinforcing effects.
Tactical asset allocation - The investment process
Outperforming the market over the long-haul requires a consistent and disciplined investment process. Over the years, we have built and refined our tools and processes that enable us to make informed and consistent decisions over time.
Focus on key decisions
We consider equity weighting (incl rebalancing) as the most important swing factor for balanced portfolios, hence determining its relative weight is our first priority. Next, we focus on regions, duration, credit and currency exposure, as well as thematic conditions including sectors and styles/factors.
Continuous market monitoring
We have in-house analysis models that monitor the global economy based on the most important macro figures. We have macro sets per region and per category based on Ecowin (Macrobond). We have internal monitoring models for equities and interest rates, as we receive extensive external analyses from various brokerage houses and independent Ned Davis (and Consensus Forecasts).
Weekly meetings
We have a regular macro meeting where we review internal and external analyses. We then have a regular investment decision meetings on weekly basis.
Consistent implementation across mandates
We implement the market view in all mandates, but adapted to the risk framework for the individual customer / mandate.
![Storebrand Asset allocation team members](/sam/nl/asset-management/offerings/asset-allocation/_/image/aafca581-0c60-47c5-ac2c-87269fd645f9:6849baf08412f473ff9f4016dfa6b90c8f76910b/width-768/Asset-allocation-team_1080x432.jpg)
Meet our highly experienced team
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Dagfin Norum - Chief Investment Officer
Storebrand from 2009, Head of institutional clients.
Broad experience from asset management as portfolio manager / CIO, adviser and leadership positions in companies such as Alfred Berg, Sparebank 1 and First Securities.
Holds a degree (Siviløkonom) from the Norwegian School of Management (BI).
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Olav Chen - Head of Allocation and Global Fixed Income
Joined Storebrand as Corporate Trainee, served as Senior portfolio manager in Storebrand Asset Management since 2004.
MPhil form the University of Oslo
MSc from the London School of Economics -
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Tore Jørgen Rye - Senior Portfolio Manager
Joined Storebrand in 2008 within fund selection and portfolio construction.
Senior Architect in Fast Search & Transfer and Senior Consultant in IBM and PriceWaterhouseCoopers.
MSc (Sivilingeniør) from NTNU
MBA from RSM -
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Lasse Theimann - Senior Portfolio Manager
Joined Storebrand in 1995. Experience as fixed income analyst.
Authorised financial analyst.
Engineering College in Trondheim
NHH Norwegian School of Economics -
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Sigve D. Stabrun - Senior Portfolio Manager
Joined Storebrand as a Corporate Trainee.
Senior portfolio manager in Storebrand Asset Management from 2008MSc in Economics from the University of Oslo
Chartered Europen Financial Analyst (CEFA / AFA) from NHH Norwegian School of Economics -
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Harald Skjørten - Senior Portfolio Manager
Joined Storebrand in 2008, and is working as portfolio manager in charge of currency hedging and currency trading. In addition, he has experience from his own real estate business
Educated at BI (Oslo) with specialisation in finance
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Espen Skrimstad - Senior Portfolio Manager
Joined Storebrand in 1998, focusing on allocation and portfolio management. Extensive - and broad - experience within Storebrand Asset Management
MSc in Financial Economics at BI Norwegian Business School
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Håvard Langseth - Senior Portfolio Manager
Joined Storebrand in 2007.
Senior portfolio manager within Allocation and Global fixed income from 2017, while previously being analyst for Institutional clientsMSc in Financial Economics at BI (Oslo)
Fixed income analyst (NHH / NFF) -
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Aleksander Baklund - Portfolio Manager
Joined Storebrand in 2015, and has had several positions including head of risk management, senior performance analyst before becoming portfolio manager in 2022
Academically, Aleksander has a MSc in Finance (Siviløkonom) from BI Norwegian Business School, and is currently pursuing Chartered European Financial Analyst (CEFA / AFA) at NHH Norwegian School of Economics
Want to invest?
Find contact information for regional sales teams and client directors.