DIVERSIFIED FINANCIALS : In the Flow

Research evidence excerpt

DIVERSIFIED FINANCIALS : In the Flow

EQUITIES

DIVERSIFIED FINANCIALS

In the Flow

Sector newsflow – Aberdeen new inv. trust, Alts Q1 marks, APO BDC, Nordic asset gatherers11 MAY 2026

Sector Research Report In this note we preview results for the week ahead and recap results released last week. In the

Production time: 19:52* (London time) newsflow section we discuss a new investment trust mgmt. agreement for Aberdeen as well as

Research Analysts & Publishing Entities indicators of value creation across the private market players in Q1 including EQT and Partners

Arnaud Giblat Group. We also look into ARR metrics and valuation of EQT portfolio company ISS and discuss

BNP Paribas London Branch Apollo potentially selling its $3bn public BDC. Finally, we discuss the Norway interest rate hike in(+44) 203 430 8513

arnaud.giblat@uk.bnpparibas.com May and its impact on Nordnet and Avanza as well reviewing their monthly KPIs published last week.

Gregory Simpson Listed asset managers – Mixed flows in the beginning of MayBNP Paribas London Branch

(+44) 203 430 8548 ETF fund flows have been subdued at the start of May, with Amundi being a notable exception,

gregory.simpson@uk.bnpparibas.com seeing +€1.8bn inflows (+15% ann.), mainly driven by its energy sector tracker fund. Other names

under our coverage are experiencing mid-single digit annualized inflow rates. In the mutual fundNicolas Vaysselier

BNP Paribas London Branch space, Man Group's fixed income flows remain robust, with inflows of +$0.3 billion (+37% ann.),

(+44) 203 430 8600 largely attributed to its credit funds. DWS's mixed allocation mutual funds appear to have seen

nicolas.vaysselier@uk.bnpparibas.com

inflows of €0.4 billion, corresponding to a 19% annualized rate. Elsewhere, longer term trends are