In January sent Consumer Council a process notice to DNB and believes DNB Norway has demanded excessive fees for managing the money of 137,000 customers who have saved in equity funds.
small depositors are entitled to NOK 750 million in damages as a result of having paid high fees in the Fund for the period 2005 to 2015, according to the Consumer Council.
– We do not agree that unitholders are entitled to compensation, says communications director Thomas Midteide DNB, to Dagens Næringsliv.
He said the fund for some years has delivered over benchmark, while in other years it has delivered well under.
– it shows that there has been an actively managed fund, says Midteide .
the claim to the Consumer Council is that the fund has had a small percentage who have been actively managed, and in reality been managed as a so-called index funds. Cost difference between an active and a passive funds can constitute about 1.5 percentage points, and it is this difference Consumer Council believes fund owners DNB Norway has overpaid.
Director of the Consumer Council, Randi Flesland, told NRKat the stuck on that fund clients have paid for something they have not got, and that judgment
© NTB
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