Denmark’s Formuepleje begins new chapter

With new family office ownership and a new management team in place, Denmark’s Formuepleje is looking to reinvent itself and repair its somewhat tarnished reputation. New asset classes, several new recruitments from across the pensions industry and improved portfolio construction are just some of the changes as part of the revised strategy, which is both a matter of implementing new ideas and going back to its roots.

  In its 35-year long history, Formuepleje has experienced some great success, becoming the largest bank-independent wealth manager in Denmark. At the same time, it has in periods suffered significantly. The high volatility and large drawdowns in its flagship funds in times of trouble has over the years rocked the confidence of its clients, which in many instances were not prepared for the level of risk in their investments.   Some two and a half years ago, the family office Lars Larsen Group bought a 41 per cent stake in Formuepleje, making it the largest shareholder in firm. Lars Larsen