Storebrand Fund Intrinsic Value Corrections
Recently, Storebrand Asset Management AS acknowledged some discrepancies regarding the reported intrinsic values of their funds. This communication serves as a proactive measure, enhancing transparency with investors and stakeholders. Incorrect values were reported during the specified period, February 10 to February 23, affecting several Storebrand funds.
Details of the Errors
Following the miscalculations at the fund's management levels, it became apparent that the remnants of inaccurate reporting needed immediate attention. Here’s an overview of the funds that experienced these discrepancies:
Storebrand Funds Impacted
The Storebrand Indeks - Nye Markeder A5 fund, represented by the ticker STIINM, showed erroneous intrinsic values on various price dates. The management has taken steps to rectify these values across all reporting platforms.
Report Summary
Through the duration of the reporting period, a systematic review was conducted, revealing consistent errors in how values were calculated. This unveiling enabled Storebrand to notify the relevant parties, including investors and stockbrokers.
Impact on Investors
For investors, such discrepancies can cause a whirlwind of confusion and concern. The essence of this communication is to reassure them that the management is taking matter seriously and is working diligently to ensure that accurate information is conveyed. Storebrand emphasizes its commitment to providing precise financial information to all stakeholders.
Future Steps
To avoid similar occurrences in the future, Storebrand is enhancing its procedures and review processes. The systematic checks and balances are being instituted to guarantee the accuracy of intrinsic values moving forward.
Contact Information
For any inquiries or further clarification regarding this situation, investors can reach out to:
Kim Toftegaard Andreassen, Director - Via email at Kim.Toftegaard.Andreassen@storebrand.com
Frode Aasen, Product Manager - Email:fdc@storebrand.com
About Storebrand
Storebrand is recognized as Norway's foremost asset manager, managing assets approximately valued at DKK 900 billion. They maintain a significant presence within the realm of sustainable investments and pensions. As a pioneering entity in the ESG investment landscape for more than 25 years, Storebrand delivers wide-ranging solutions to both institutional and private investors within the Nordic region as well as Europe.
Frequently Asked Questions
What led to the incorrect intrinsic values reported by Storebrand?
The discrepancies arose from miscalculations in the reporting process at the fund management level.
How many funds were affected by the inaccurate reporting?
Several Storebrand funds were impacted, particularly the Storebrand Indeks - Nye Markeder A5 fund.
What actions is Storebrand taking to rectify these issues?
Storebrand has initiated a thorough review and is enhancing its reporting processes to prevent future discrepancies.
Who can investors contact for more information?
Investors can contact Kim Toftegaard Andreassen or Frode Aasen via their provided emails for clarification on the matter.
What is Storebrand's stance on sustainable investments?
Storebrand has been a leader in sustainable investments for over 25 years, offering comprehensive and scalable solutions for its clients.
