CapMan: New strategy and long-term financial objectives released ahead of today’s CMD – aims to double AuM - Nordea

CapMan released a new strategy and updated long-term financial objectives ahead of today’s CMD. Combined growth for the Management Company and Service businesses excluding carried interest target is raised to more than 15% p.a. on average (previously more than 10%), ROE target remains at more than 20% and equity ratio target is now above 50% (previously above 60%). CapMan’s objective to pay an annually increasing dividend remains intact. The company aims to double its AuM to EUR 10bn within next five years and notes that growth is sought predominantly from current investment areas and products enabled by investment returns and expanding international investment base. The company aims to launch new products that would complement the current product portfolio in the unlisted market. M&A and other arrangements are a more pronounced component of the growth strategy in the future. For 2022-25, we have modelled, on average, 10% sales growth for Management Company and services, excluding carry. In addition, we view the AuM growth target as ambitious (we currently model EUR 6.1bn AuM in 2025E). We expect to hear more about new products and roadmap for higher international AuM during today’s CMD that will start 1 p.m. EET and can be viewed through https://capman.videosync.fi/cmd-2022/.