Asset Management
Our goal is to offer you qualified asset management where you not only understand what you are investing in, but also why.
About us
We offer broad and competent financial advice to private individuals, companies and institutions. We always start from an overall view in which the client’s specific circumstances, needs, priorities and goals form the basis of our advice.
Full transparency throughout the advisory process. Ongoing dialogue and reporting.
Retrocessions are paid back to the client. We always recommend what suits you best.
Thorough analysis and market views from independent partners form the basis of all advice.
We strive to make sure the client feels secure, understands the investments and is satisfied with our work.
Services
Pensum offers management and advice on both listed and unlisted securities, either through custody solutions or through insurance solutions.
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Our consultative advice means that our managers propose changes to the portfolio. The client then decides whether or not the change is to be made.
We are completely free to always recommend the investment that suits the client best – regardless of who the provider is.
Pensum charges its clients directly and makes extensive use of institutional share classes, which have low fees and no retrocession to the adviser.
We are not affiliated with any bank or product provider. Our advice is always in your interest.
We use low-fee products that are normally only available to large institutional clients.
You pay directly for the advice – no hidden commissions or conflicts of interest.
We use analysis from the leading investment communities in the Nordics and internationally as the basis for all recommendations.
Investment advice involves risk. Past performance is no guarantee of future returns.
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For clients who do not wish to take part in the ongoing investment decisions, we offer discretionary management. This means that you as a client leave the management decisions to us.
The manager is authorised to carry out reallocations on an ongoing basis within the limits agreed together, based on, for example, market risk, liquidity, volatility and return expectations.
Discretionary management is particularly suited to clients with larger assets who want professional management without spending time on ongoing follow-up themselves.
A dedicated manager follows the market and your portfolio continuously.
We set risk and return limits together, adapted to your goals.
The manager can act immediately when markets change, without waiting for your approval.
A full overview of portfolio performance in the client portal, at any time.
Regular reports and meetings make sure you are always up to date.
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Pensum works with carefully selected international partners to offer our clients the broadest and best range of financial solutions. All partners are chosen for their expertise, financial strength and ability to deliver added value for our clients.
We also offer a wide range of alternative investment products: real estate, private equity, infrastructure, shipping and more, with thorough analysis of each individual structure.
International capital insurance
For many years, Pensum has worked closely with Utmost International (formerly Lombard International Assurance) – a leading provider of insurance-based wealth solutions through Utmost Wealth Solutions. Utmost administers GBP 103.5 billion on behalf of more than 200,000 clients.
Securities financing
Pensum currently uses Oddo BHF in Switzerland as one of our partners for securities-backed lending.
Investments in alternative products involve risk. Pensum always recommends a thorough review of the product documentation before investing.
Discretionary management
A wide range of investment solutions. Choose a mandate for more information.
Fund portfolio
Balanced exposure to both equities and fixed income through fund investments.
The mandate is designed for investors who want a complete portfolio with moderate risk and stable development over time. Through active allocation between asset classes and careful selection of underlying funds, the portfolio seeks to combine good risk diversification with a competitive return potential.
Fund portfolio
Global equity exposure through carefully selected active funds.
The strategy aims to deliver competitive risk-adjusted returns over time, with an overall portfolio that largely mirrors the world index in regional and sector allocation. Value is created through the selection of skilled managers with different investment styles.
Fund portfolio
Nordic credit investments through bond funds.
The strategy combines carefully selected fixed-income managers with strong expertise in credit analysis, with the aim of achieving stable returns and limited interest rate risk. The portfolio is characterised by a high running yield, short duration and good diversification.
Fund portfolio
Global equity exposure through carefully selected funds.
The strategy is based on identifying specialised managers with deep expertise in defined investment universes, where mispricing and opportunities for excess returns often arise. The portfolio consists of 8–12 funds and provides broad diversification across regions, sectors and investment styles.
Fund portfolio
Global credit investments through high-yield funds.
The strategy is based on identifying experienced managers with strong expertise in credit analysis and risk management, with the aim of achieving a high running yield and attractive risk-adjusted returns. The portfolio is broadly diversified across regions and sectors.
Equity portfolio
Norwegian equities with solid cash flows and stable dividends.
The strategy seeks to combine ongoing cash returns with moderate capital growth through investments in companies with a strong financial position and predictable earnings. The portfolio is concentrated but diversified across sectors, and emphasises quality, robustness and disciplined valuation.
Equity portfolio
A specialised equity mandate focusing on Norwegian savings banks and financial institutions.
The strategy draws on Pensum's strong expertise in the banking and financial sector, and seeks to identify banks with a solid capital structure, good profitability and an attractive dividend policy. The mandate provides concentrated exposure to a sector with historically stable earnings and a high dividend yield.
Equity portfolio
Norwegian companies with high growth potential.
The strategy targets companies with strong market positions, scalable business models and the ability to deliver over time. The portfolio is more dynamic and forward-looking than the dividend mandate, while risk management and disciplined selection remain central.
Past performance is no guarantee of future returns. Future returns will depend on, among other things, market developments, the skill of the managers, the risk of the funds and the costs of management.
Analysis & core focus
Even though Pensum is a niche player, we place great emphasis on being at the forefront of analysis. We work with independent research houses when developing recommendations and market views.
Through quantitative and qualitative analysis, we choose from a wide range of funds from leading managers worldwide.
Macro analysis and global market views
Independent fund analysis and ratings
Good research coverage of individual shares and bonds
It goes without saying that you get the best solutions we can offer in terms of price, products, tax-efficient solutions and follow-up.
Pensum defines itself as a non-independent investment adviser – which means that we can give advice on both our own and other products.
If Pensum receives retrocessions on management fees, these are paid back to our clients – so you can be sure that we are neutral in our advice.
We seek to reduce costs in the portfolio by using index funds and exchange-traded funds where we consider this most suitable, and active funds where the managers can demonstrate concrete added value.
Past performance is no guarantee of future returns. Future returns will depend on, among other things, market developments, the skill of the managers, the risk of the funds and the costs of management. Returns may be negative as a result of price losses.
Get started
We always set aside time for an initial conversation at no cost. Tell us about your situation, and together we will find the solution that suits you best.
Investment advice involves risk. Past performance is no guarantee of future returns.
