CapMan: Outlook remains good - Nordea

CapMan reported a strong Q1 with high fair value changes despite writedowns related to old Russian investments. All active strategies contributed positively to the Q1 development. CapMan expects the strong AuM growth to continue in 2022, with marked demand and three new product launches in the pipeline for the year. Nordic Real Estate entered carry in Q1, and CapMan expects Growth Equity to enter carry during Q2, followed by further funds over the coming 12 months, providing more stable carry. We derive a fair value range of EUR 3.0-3.6 (2.9-3.4) per CapMan share. Marketing material commissioned by CapMan Oyj.

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