This entails a restructuring along more functional lines and dividing the teams between distribution and institutional sales, in common with the wider industry.
SKAGEN Funds has been part of the Storebrand Group since December 2017. In addition to offering its own actively managed funds, SKAGEN is also responsible for bringing Storebrand's products to the international markets.
In future, our distribution clients will be serviced centrally from our head office in Stavanger by a team led by Casper Meussen, currently Managing Director International Clients and Business Development. Our London office, led by UK Managing Director Timothy Heffer, will be responsible for servicing and developing the institutional client base.
A consequence of this is that SKAGEN's office in Amsterdam will close as of 1 January and the International team will take over responsibility for our Dutch clients. Casper was responsible for Dutch clients before the Amsterdam office was established in 2011, and has the required knowledge, language and understanding of the market.
Tim Warrington, CEO of SKAGEN commented:
"With greater regulatory convergence, Europe increasingly resembles a single market. Client-type is therefore becoming a greater differentiator than client geography. As such, we have sought to reorganise our institutional and distribution sales teams so that we can serve our respective client segments across all markets in the most effective way possible.
As part of this reorganisation, we will unfortunately be closing our office in Amsterdam. We take this opportunity to thank our Dutch team for their many years' hard work and commitment to SKAGEN."
Michiel Krauss, Managing Director, The Netherlands commented:
"We have spent an exciting ten years bringing SKAGEN's active fund offering to the Dutch market, in addition to Storebrand's leading sustainability product offering since 2017. I am confident that SKAGEN will continue to provide our Dutch clients with the best possible service and follow-up and wish the team the best of luck on their continued journey."