Mandatum Life Insurance Company Limited and Fourton Oy have concluded a business transaction according to which Mandatum Life will acquire Fourton’s Stamina and Odysseus funds, which invest in Central European companies.
Odysseus invests in the equities of small and mid-cap companies mainly operating in cyclical sectors, while Stamina invests in the equities of stable European companies. Stamina’s total value (assets under management) amounted to EUR 315 million on 31 August 2017, and Odysseus had a total value of EUR 199 million.
Fourton’s CEO, Mikael Wahlström (59), will continue as chief portfolio manager for the Stamina fund, alongside the team led by Janne Holtari (48), Mandatum Life’s director of equities. Odysseus will be managed jointly by Janne Holtari and Mikael Wahlström.
“Our goal is to combine two internationally successful teams into a hub of excellence. European equities are a spearhead of our wealth management operations, and the Sampo Group has been a major long-time investor in Fourton funds. Mandatum Life and Fourton are like-minded companies, and we share a similar way of investing in this market,” comments Mandatum Life’s CEO, Petri Niemisvirta.
In connection with the transaction, Fourton’s partner in charge of institutional customer relations, Matti Ollikainen (41), will transfer to the service of Mandatum Life.
“I am very pleased that our growing business will be complemented by the extensive experience of an institutional wealth management expert like Matti Ollikainen. Over the past year, we have launched significant initiatives, for example, with Swedish institutional investors, and this acquisition will broaden our fund business to enable even faster growth and better service both in Finland and abroad,” says Niemisvirta.
“It is exceptional that both Wahlström’s and Holtari’s teams have held on to their globally leading position in a competitive market for such a long time. This is the result of years of hard work conducted systematically and with intimate knowledge of the target companies,” says Lauri Vaittinen, head of Mandatum Life’s Investment Solutions unit.
“I am very pleased with this arrangement with the Sampo Group – a company I highly respect. The transaction is well in line with the changing industry relations in institutional asset management. By joining forces and through hard work, we will further reinforce our presence in our investment field,” says Wahlström.
The business arrangement requires no actions on the part of Stamina’s and Odysseus’s customers, nor will the contractual terms change for the current customers of the funds in question.
The transaction is expected to be completed in early 2018 and is subject to regulatory approvals.
For more information, please contact:
Mandatum Life
Petri Niemisvirta, Managing Director, petri.niemisvirta@mandatumlife.fi, tel. +358 (0) 10 516 7200
Lauri Vaittinen, Senior Vice President, Investment Solutions, lauri.vaittinen@mandatumlife.fi, tel. 358 (0) 50 382 1674
Niina Riihelä, Vice President, Marketing and Communications: niina.riihela@mandatumlife.fi, tel. +358 (0) 40 728 1548
Fourton
Mikael Wahlström, CEO, mikael.wahlstrom@fourton.fi, tel. +358 (0) 50 67838
Matti Ollikainen, Partner, matti.ollikainen@fourton.fi, tel. +358 (0) 500 944 177