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New Chairman of the Board

SKAGEN elected a new Chairman to its board of directors on 3 December, following the changes announced recently. Henrik Lisaeth takes over the reins from Martin Gjelsvik, who is stepping down after more than 15 years at the helm.

Date: 04/12/15

"We would like to thank Martin for his dedication to SKAGEN throughout so much of the company's journey. He has overseen the development of SKAGEN from a local fund provider in Norway to a European fund management company," says Leif Ola Rød, CEO of SKAGEN.

"We now welcome the appointment of Henrik Lisaeth and look forward to his contribution to ensuring the delivery of investment performance and service excellence to our clients while attracting and retaining the best investment and management talent."

Henrik Lisaeth has many years of experience from the financial sector and is currently an Advisor to FSN Capital after being a Partner of FSN Capital since 2000. Prior to this, Lisaeth held various positions at Morgan Stanley and The Boston Consulting Group. He has extensive board and chairmanship experience and is currently a board member at Validus/Vita. Read full CV.

"I am looking forward to working with SKAGEN in my role as Chairman of the Board. SKAGEN is an impressive fund management company with a strong culture that has delivered outstanding results to its clients over time.

The Board is committed to ensuring that SKAGEN is able to deliver the best possible risk adjusted returns to its clients in the future. We will contribute to positioning SKAGEN as a leader within active fund management and will cooperate closely with SKAGEN's employees, the management group and the owners," says Henrik Lisaeth.

SKAGEN's Board of Directors is currently made up of six members.

Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skills, the fund’s risk profile and management fees. The return may become negative as a result of negative price developments. There is risk associated with investing in funds due to market movements, currency developments, interest rate levels, economic, sector and company-specific conditions. The funds are denominated in NOK. Returns may increase or decrease as a result of currency fluctuations. Prior to making a subscription, we encourage you to read the fund's prospectus and key investor information document which contain further details about the fund's characteristics and costs. The information can be found on www.skagenfunds.com. Storebrand Asset Management administers the SKAGEN funds which are by agreement managed by SKAGEN's portfolio managers.

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