Sparinvest Group

Founded in Denmark in 1968, now known internationally as experts in value investment.

Group description

The Sparinvest Group consists of the Luxembourg-based parent company Sparinvest Holdings SE and its wholly-owned subsidiaries Sparinvest S.A. in Luxembourg and the Danish branch ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg. In addition, the Group holds a 70% ownership in Sparinvest Property Investors A/S and Sparinvest Property Investors II A/S.

The group

Sparinvest Holdings SE (Parent company)
The Sparinvest Group originally conducted its business in Denmark only, but in 2001, it set up a subsidiary in Luxembourg which, in addition to managing the Luxembourg-domiciled investment funds, provided a marketing platform for large parts of the EU. Since the Group’s expansion going forward will primarily be based on the activities and the organisation in Luxembourg, Sparinvest Holding A/S was converted into Sparinvest Holdings SE, a European public limited company (SE) at the end of June 2011 and moved to Luxembourg, in support of those plans. 

Sparinvest S.A.
Sparinvest S.A. is domiciled in Luxembourg and is approved as a UCITS IV compliant management company by the Luxembourg FSA, CSSF. The company handles the administration of the Luxembourg-domiciled UCITS and AIF funds. Furthermore, the company is responsible for the Group’s international distribution in addition to providing asset management and advisory services to professional investors. Apart from its domicile in Luxembourg, Sparinvest S.A. also has local representation offices in Paris and Stockholm. Sparinvest S.A. has marketing authorisation for the distribution of products from the regulatory authorities in: Denmark, Luxembourg, Germany, France, Switzerland, Iceland, Faeroe Islands, The Netherlands, Sweden, Belgium, England, Finland, Greenland, Norway and Austria.

Sparinvest S.A. has delegated certain tasks to trusted third parties from whom regular reporting is required. Banque et Caisse d’Epargne de l’Etat (BCEE) is appointed Depositary Bank, Domiciliation and Paying Agent. Under its responsibility for the Central Administration, BCEE has delegated certain tasks (Registrar and Transfer Agent, Net Asset Value Calculation and Fund Accounting) to European Fund Administration (EFA).

ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg
(country branch)

The Danish branch of Sparinvest S.A. - ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg - is domiciled in Denmark and is approved as a branch of a UCITS IV compliant Management Company and Alternative Investment Fund Manager by the Danish FSA, Finanstilsynet. The branch handles the management and the administration of the Danish-domiciled UCITS and AIFs for professional investors. Furthermore, the branch is responsible for the Group’s Danish distribution in addition to providing asset management and advisory services to professional investors.

Sparinvest Property Investors A/S
Sparinvest's holding company holds 70% of each of the subsidiaries Sparinvest Property Investors A/S and Sparinvest Property Investors II A/S. These two companies manage Sparinvest Property Fund I, II and III, which are global real estate funds-of-funds. The investment team of the property investment companies has in-depth experience of investing in foreign property funds as well as an extensive network in the global property markets.

Board of directors

Board of directors - Sparinvest Holdings SE
  • Klaus Skjødt, Chairman and CEO of Sparekassen Kronjylland
  • Jan Pedersen, Dep. Chairman and CEO of Danske Andelskassers Bank A/S
  • Bjarne Toftlund, CEO of GF Forsikring A/S
  • Vagn Hansen, CEO of Sparekassen Vendsyssel
  • Martin Baltser, CEO of Middelfart Sparekasse
  • Per Sønderup, CEO of Jutlander Bank
  • Bjarne Valentin Nielsen, CEO of Rise Sparekasse
  • Ole Beith, Director of Sparekassen Thy
  • Jan Ulsø Madsen, CEO of Vestjysk Bank

Executive Management

  • Per Noesgaard, Group CEO

History and ownership

Founded in Denmark in 1968, Sparinvest is now an international asset management group based in Luxembourg and owned by a broad range of Danish institutional shareholders who support its independence and prudent investment strategy. The group is a signatory of the UN PRI.

As of May 18, 2017, the following companies each hold 5% or more of the share capital: 
  • Danske Andelskassers Bank A/S
  • Vestjysk Bank 
  • Sparekassen Kronjylland 
  • Sparekassen Vendsyssel 
  • Den Jyske Sparekasse 
  • Jutlander Bank
  • Sparekassen Thy

Sparinvest provides professional asset management services throughout the world through its fund range and bespoke products and services. Sparinvest is known internationally as a specialist in value investment – both for equities and bonds. All Sparinvest’s investment strategies, and the products developed from them, are based on academic evidence of long-term success.

Key dates


 2014 The Danish management company ID-Sparinvest A/S merges with Sparinvest S.A., and with that becoming a country branch of the Luxembourgian subsidiary under the name ID-Sparinvest, Filial af Sparinvest S.A., Luxembourg.
 2012 Integration of ESG risk factors into investment processes for all strategies – active and passive; bonds and equities. Signature of 'Heads of Agreement' with Haitong International. Creation of single Danish management company ID-Sparinvest A/S out of merger of: Sparinvest Fondsmæglerselskab A/S, ID-Sparinvest A/S and Sparinvest Group Services A/S.
 2011 Relocation of headquarters from Denmark to Luxembourg and granting of UCITs IV asset manager status by Luxembourg CSSF. Signature of 'Value Alliance' with Brandes Investment Partners, US.
 2009 Signature of United Nations Principles for Responsible Investment.
 2005 Introduction of Sparinvest Value Bonds strategy.
 2005 Began working with Ethix SRI Advisers on behalf of Institutional clients seeking Ethical screening.
 2001 Establishment of a Luxembourg subsidiary to implement a pan-European strategy leading to distribution authorisation in 14 jurisdictions.
 1999 Change from mutual fund structure to Asset Management Company.
 1997 Implementation of proven long-term investment strategies – principally strategic asset allocation and value.
 1996 Change of senior management and major investigation into investment academia.
 1989 Group merges with PrivatInvest (now Nordea Invest) and de-merges one year later to maintain independence.
 1968 Sparinvest is founded as mutual fund group by various Danish savings banks.