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SKAGEN’s CEO to take over as acting CIO

Date: 04/04/16

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Ole Søeberg is set to change role from CIO/Portfolio Manager to solely focusing on managing SKAGEN Vekst together with Geir Tjetland. SKAGEN's CEO, Leif Ola Rød, will become acting CIO with effect from 4 April 2016.

Ole joined SKAGEN in 2011 as Portfolio Manager in SKAGEN Vekst and took on the additional CIO position in January 2015. He has contributed to further develop the CIO position, but as Ole's heart is in the investment side, he has decided to fully focus on the portfolio management role. The change aims to further strengthen SKAGEN's focus on delivering the best possible returns to clients.

Leif Ola has prior experience as CIO and will be supported by a strong and experienced portfolio team in his dual role. He has been CEO of SKAGEN since January 2015 and has 25 years' experience from Nordic and international asset management.

"During 2015 the equity funds' portfolios have become more concentrated around the companies that the portfolio managers believe in. As acting CIO, Leif Ola will continue the process that Ole started, creating an environment of dynamic shared investment thinking that can be capitalised into good returns," says Henrik Lisaeth, Chairman of SKAGEN's Board of Directors.

SKAGEN has initiated a process to find a permanent CIO.

Date: 04/04/16

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