Kapitalforvaltning

Kapitalforvaltning (asset management) is the professional stewardship of clients' financial assets, aimed at achieving specified investment objectives within an accepted level of risk. It involves designing a strategy, allocating assets, selecting securities, monitoring risk, and reporting performance. The goal may be retirement funding, wealth preservation, liquidity, or growth.

Core activities include asset allocation, diversification, security selection, risk assessment, performance measurement, and compliance. Managers may offer discretionary services, where decisions are made by the manager, or advisory services, where clients retain control. Services may extend to financial planning, tax considerations, and cash management.

Asset management operates within regulatory frameworks that protect investors and ensure market integrity. This includes fiduciary duties, disclosures, and risk controls. In many regions managers are licensed, and funds are subject to regimes such as UCITS or AIFMD in the EU.

Investment approaches range from active management, seeking to outperform benchmarks, to passive management, aiming to replicate index performance. Fees typically include management charges and, for some funds, performance fees. Performance is evaluated against benchmarks using risk-adjusted metrics.

Trends in kapitalforvaltning include greater emphasis on environmental, social, and governance criteria, broader use of data analytics and automation, and increases in outsourced or platform-based asset-management models.