Corrections to Storebrand Indeks Intrinsic Values
Storebrand Indeks – Nye Markeder has recently acknowledged errors in the reporting of its intrinsic values during a specific reporting period. These discrepancies came to light following a miscalculation by the fund's management company, Storebrand Asset Management AS. As a responsible asset manager, Storebrand has determined to notify stakeholders and rectify the reported values.
Impact of Reporting Errors
The errors relate to the calculations of intrinsic values for several transactions dated from January 14 to February 7. For those dates, there were significant variances between the reported and correct intrinsic values for specific classes of fund shares.
Detailed Report of the Errors
Below are instances of the affected values:
| Symbol | Fund Name | Price Date | Correct IV | Reported IV | Error Deviation |
|---|---|---|---|---|---|
| STIINM | Storebrand Indeks - Nye Markeder A5 | 14.01.2025 | 1,299.57 | 1,290.10 | -0.73% |
| STIINM | Storebrand Indeks - Nye Markeder A5 | 14.01.2025 | 1,299.75 | 1,290.28 | -0.73% |
| STIINM | Storebrand Indeks - Nye Markeder A5 | 14.01.2025 | 1,298.80 | 1,289.34 | -0.73% |
| STIINM | Storebrand Indeks - Nye Markeder A5 | 14.01.2025 | 1,300.22 | 1,290.74 | -0.73% |
| STIINM | Storebrand Indeks - Nye Markeder A5 | 14.01.2025 | 1,299.20 | 1,289.73 | -0.73% |
Corrective Actions Undertaken
As part of its corrective plan, Storebrand is proactively communicating with all affected stakeholders. The management is working diligently to ensure that no further discrepancies occur in future reporting sessions. The Stockbrokers' Association has also been duly notified about the discrepancies in reporting to maintain transparency and uphold standards.
The Storebrand Legacy
Storebrand has established itself as Norway’s leading private asset manager, overseeing assets of approximately DKK 900 billion. With a legacy of more than 25 years in ESG investing, the firm is dedicated to providing sustainable pension and savings solutions to both institutional and retail clients, with a diverse brand portfolio that includes Delphi Funds, SKAGEN Funds, and Storebrand Funds.
Contact Information
For further inquiries or concerns regarding this announcement, please reach out to the following representatives:
Henrik Budde Gantzel, Director, henrik.budde.gantzel@storebrand.no
Frode Aasen, Product Manager, fdc@storebrand.com
Frequently Asked Questions
What caused the intrinsic value reporting errors?
The errors were due to miscalculations made by the fund's management company, Storebrand Asset Management AS, during a specific reporting period.
How is Storebrand addressing these errors?
Storebrand is actively notifying all affected stakeholders and implementing corrective measures to prevent future occurrences.
Are other fund classes affected by this issue?
This specific issue affected intrinsic values reported for the Storebrand Indeks - Nye Markeder A5 fund only during the specified period.
What does Storebrand do for its clients?
Storebrand provides a variety of sustainable investment solutions, focusing on ESG factors and client value through its multi-boutique platform.
Who can I contact for more information?
You can contact Henrik Budde Gantzel or Frode Aasen via the provided email addresses for any inquiries.
