Stockholm-based Skandia said today that its sales for September were noticeably affected by the terrorist attacks of Sept. 11, falling 1.3 billion kronors (about $123 million) between August and September.

"Since the stock markets in the USA were closed for nearly a week in September, no trading could be conducted in funds containing American stocks, which affected sales negatively in most markets," the company said in a statement.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.