The asset management arm of Swedbank, the Swedish financial services firm known in Sweden as FöreningsSparbanken, saw assets under management increase by 19% to Skr232bn (€25.6bn) in the first nine months of the this year compared with Skr195bn in the same period a year ago.

Institutional assets increased by 26.6% to Skr38bn from Skr30bn in the same time period. The increase in assets under management is a partly due to the recovery in equity markets at the beginning of the year, and partially from new money.