Nordic banks losing appeal as investment target, says asset manager

Stockholm

NORDIC banks, long considered among the safest in the world, are losing their appeal as an investment target, according to PineBridge Investments, a multi-asset manager that oversees about US$85 billion.

Graeme Bencke, the portfolio manager who heads equity strategy at PineBridge in London, says the circumstances that made banks in Sweden, Denmark, Norway and Finland a "good investment in the post-crisis period" no longer exist.