The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Philipp HS¯ler - Pareto Securities AS, Research Division - Analyst
: Philipp HS¯ler from Pareto. I have 3 questions, please. Firstly, on the net flows, could you please give us the figures for Q3, both for MLP and FERI?
Secondly, on the occupational pension business, which you said not only this quarter but in the previous quarter as well, was relatively weak. Could
you perhaps give us the figure for the 9 months 2020? How big were the revenues generated from the occupational pension business?
And last but not least, on dividend policy, if I look at consensus estimates, forecasts are that net income will decline by 20% this year compared to
2019. How important is for you to stick to your payout ratio? I.e., are you willing to keep the dividend stable in absolute terms and at the same time,
having a somewhat higher payout ratio?
Question: Philipp HS¯ler - Pareto Securities AS, Research Division - Analyst
:
Question: Philipp HS¯ler - Pareto Securities AS, Research Division - Analyst
: For the first 9 months. And for the -- just following up on this, for the occupational pension business, is it also true that Q4 is by far the most important
quarter within the year? Or are the revenues more evenly spread over the year?
Question: Philipp HS¯ler - Pareto Securities AS, Research Division - Analyst
: Okay. So this explains also why you are so cautious for Q4, I understand.
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