The Financial Supervisory Authority of Norway published a supervisory report on Storebrand Asset Management AS’s marketing of investment funds under the Skagenfondene brand, finding that price disclosures on skagenfondene.no did not meet regulatory requirements. The most serious issue was that prices shown in the fund overview were incorrect. Cost information was also given too little prominence relative to promotional performance information, making prices hard to find and leaving customers without clear notice that the charges were ongoing. The review covered the firm’s public and logged-in webpages and its mobile app, with pricing information assessed as of 26 March 2026. On the public website, selected fund listings showed returns but not prices, while individual fund pages only revealed cost information after users clicked into a costs section placed low on the page, below return forecasts, historical performance and purchase prompts. In the complete fund list, prices and nominal returns were shown together, but the prices for external funds were wrong, including both overstated and understated figures. A separate table contained the correct prices for those external funds, but the menu structure did not lead customers there. The authority also found that return figures were displayed more prominently than prices and that the pages did not indicate that the price was charged on a recurring basis. On the logged-in site and in the Skagen app, prices were generally presented well, although prices for external funds already held by customers were incorrect. Storebrand said it would make immediate changes to its fund price disclosures and correct the identified errors. The firm also said total annual price calculations would include platform fees and any retrocessions where relevant, and that it would strengthen internal processes for reviewing digital channels in light of supervisory findings and guidance. The authority noted the board’s response.
Norwegian Finanstilsynet2026-07-01
Financial Supervisory Authority of Norway finds incorrect fund prices and weak cost disclosures on Storebrand Asset Management’s Skagenfondene website
The Financial Supervisory Authority of Norway found that Storebrand Asset Management AS provided incorrect and insufficiently prominent fund price information on the Skagenfondene website. Prices for some external funds were wrong, cost disclosures were less visible than return data, and the pages did not clearly state that charges were ongoing. Storebrand said it has started corrective work, including revising total annual price calculations where relevant.