Fortis Investments, the fund management arm of the Benelux insurance group, plans to expand in the UK, Scandinavian and Polish markets after winning new business of €5.6bn ($7.5bn) in the year to December 31, 2004.

Thomas Rostron, managing director of client services at Fortis, said the fund manager would hire a head of sales for the Scandinavian region and look to open its first office there in about a year's time. "In the UK we are seeking organic growth, although we will be launching the Luxembourg-based absolute return Fortis L funds into the UK market shortly," he said.