NORDICS - Nordea's asset management and life unit has reported a €3.2bn inflow in institutional assets for 2006, bringing total assets under management to €161bn.

In 2005 Nordea saw an outflow of €100m from institutional clients. However, last year institutions contributed €3.2bn to the total net inflow of €4.1bn.

However, the net inflow was down €1.3bn from 2005, and the 9% increase in AUM in 2006 was mainly due to strong equity markets. Institutional assets rose 17.2% to €26.1bn.

Operating profit for Nordea's asset management business increased by 18.7% to €64m

The operating profit for the whole group increased by 25% to €3.8bn and net profit by 39% to €3.2m.

Nordea also announced that its annual general meeting will be held on April 13.