About the merging of SEB Strategy Fund and SEB Active funds

08.10.2021 - 09:52

To improve and refine selection of funds available to our customers, on 5 November 2021 will start the merger of SEB Strategy funds: the merging sub funds SEB Strategy Defensive, SEB Strategy Balanced, SEB Strategy Opportunity, SEB Strategy Growth will be added to the receiving funds SEB Active 20, SEB Active 30, SEB Active 55, SEB Active 80 respectively. The merger will conclude and take effect on 15 November 2021.

Merging sub SEB Strategy Defensive funds:	Receiving SEB Active 20 funds:
LU1124617280	SE0016075832
LU0486618746	SE0016075824
LU2071392620	SE0016075873
LU1808750001	SE0016075865

Merging sub SEB Strategy Balanced funds:	Receiving SEB Active 30 funds:
LU1124616985	SE0016075907
LU0660786715	SE0016075899
LU1764038458	SE0016075949
LU2071392893	SE0016075956

Merging sub SEB Strategy Opportunity funds:	Receiving SEB Active 55 funds:
LU1124617520	SE0016076061
LU0660786806	SE0016076079
LU1764038532	SE0016076046
LU2071392976	SE0016076053

Merging sub SEB Strategy Growth funds:	Receiving SEB Active 80 funds:
LU1124617363	SE0016076137
LU0660787010	SE0016076145
LU1764038615	SE0016076111
LU2071393198	SE0016076103

Subscription, redemption and switch transactions with SEB Strategy funds will be possible until 4 November 2021 at 14:00. Transactions with the new SEB Active funds will be available from 15 November.

During the merging process – from 4 November until 15 November – SEB Strategy fund transactions will be unavailable, including the Robo-Advisor functionality in the SEB mobile application.

Fund merger impact on investments

Due to the planned merger of investment funds, all holders of SEB Strategy fund units, which do not wish to become holders of SEB Active fund units, have the right to request redemption or switch order to a different investment fund free of charge by submitting the order in the internet bank until 4 November 2021 at 14:00.

If the customer does not oppose joining the SEB Active funds, the SEB Strategy fund units held by the customer will be automatically replaced with SEB Active 20/30/55/80 fund units during the period from 4 November 2021 until 15 November 2021.

We invite you to carefully review the upcoming changes explained in this summary, as well as the information documents intended for investors in SEB Active funds.

The merger’s impact on regular fund standing orders

If you have active SEB Strategy Defensive, SEB Strategy Balanced, SEB Strategy Opportunity, SEB Strategy Growth fund standing orders, for your convenience, we will automatically continue to invest in SEB Active funds after the merger if only you have not sold your SEB Strategy fund units and/or cancel standing orders.

Customers who have active fund standing orders, which do not agree to join the SEB Active funds, may cancel the active regular fund standing orders until 4 November 2021 at 14:00. If you wish to cancel the regular fund standing orders, we advise to do it as soon as possible, because due to the investment date and regularity indicated in your fund standing order new orders about the purchase of SEB Strategy fund units might be submitted until 4 November.

After fund merger, fund standing orders can be cancelled anytime in the internet bank.

Main differences of the funds

The new SEB Active funds are similar to SEB Strategy funds in many ways, however, there are several improvements and changes. The main changes are summarised below.

Domicile: SEB Strategy funds are domiciled in Luxembourg. SEB Active funds are domiciled in Sweden.

Investment objectives and policy: SEB Strategy funds and SEB Active funds are both actively managed and aim to create long term capital growth. However, the goal of SEB Active funds is to outperform its benchmark – depending on the risk profile, from 5% to 95% can be invested in equities.

Sustainability: SEB Strategy funds and SEB Active funds both follow SEB Investment Management AB’s sustainability policy. To make decisions on sustainable investing, the integrated sustainability analysis is used, thus excluding companies and business models, which negatively affect climate and society in general. Funds do not invest in companies, which have a negative long-term impact on sustainable development.

Main categories of financial instruments: The merging SEB Strategy funds and the receiving SEB Active funds both invest in equities, interest bearing securities and funds.

Benchmark: SEB Strategy funds do not have a benchmark. SEB Active funds have a composite benchmark, which depends on the risk profile and consists of:

MSCI AC World Index Net Return,
VINX Benchmark Cap Net Return Index,
OMRX Bond All,
OMRX T-Bill,
Barclays Global Aggregate Corporate,
Barclays Global High Yield Corporate.

Currency hedging of unit classes: SEB Strategy funds apply full hedging. SEB Active funds apply partial hedging.

Risk profile: The risk profile is categorised on the SRRI scale (where level 1 is lowest and level 7 highest). SEB Active 20 and SEB Active 30 funds have an identical risk profile as SEB Strategy Defensive and SEB Strategy Balanced funds. However, SEB Active 55 and SEB Active 80 have a lower risk profile than respective SEB Strategy Opportunity and SEB Strategy Growth funds. Additionally, all funds are subject to credit risk, counterparty risk, liquidity risk, operational risk, currency risk, derivative risk, interest rates risk.

Management fees and ongoing charges: The majority of SEB Active funds have lower or identical management fees in comparison with SEB Strategy funds. SEB Active 20 and SEB Active 30 have lower ongoing charges, but SEB Active 55 and SEB Active 80 have higher ongoing charges than the respective SEB Strategy funds.

Recommended investment period: Depending on the risk profile, SEB Active funds are suitable for investors who do not plan to stop investments within 2 to 5 years.

Service providers: SEB Investment Management AB is the management company for SEB Strategy funds and SEB Active funds. The depositary for SEB Strategy funds is Skandinaviska Enskilda Banken AB, Luxembourg branch, and the depositary for SEB Active funds is Skandinaviska Enskilda Banken AB. The Bank of New York Mellon SA/NV, Luxembourg Branch is the central administrator for both the SEB Strategy and SEB Active funds. EY Luxembourg is the auditor for the SEB Strategy funds and EY Sweden is the auditor for the SEB Active funds.

Fund comparison

	SEB Strategy Defensive fund (merging sub fund)	SEB Active 20 fund (receiving fund)
Share class	C (EUR) LU0486618746	B (EUR) SE0016075824
	UC (EUR) LU1808750001	F (EUR) SE0016075865
	HNWCB(EUR) LU1124617280	C (EUR) SE0016075832
Risk level SRRI scale	3	3
Main categories of financial instruments	Equities, interest bearing securities and funds.	Equities, interest bearing securities and funds.
Ongoing charges	C(EUR) 1.14% UC(EUR) 0.64% HNWCB(EUR) 0.89%	B(EUR) 0.95% F(EUR) 0.53% C(EUR) 0.74%
Investment policy	The Fund invests in equities, fixed income securities and funds anywhere in the world.	The Fund invests in equities, fixed income securities and funds. The Fund may invest anywhere in the world. Between 5% and 35% of the Fund’s assets must be exposed to the equities.
Benchmark	No Benchmark	MSCI AC World Index Net Return 13%, VINX Benchmark Cap Net Return Index 7%, OMRX Bond All 35%, OMRX T-Bill 25%, Barclays Global Aggregate Corporate 10%, Barclays Global High Yield Corporate 10%.

SEB Active 20 Key Investor Information
Detailed information about changes from Fund Management company

	SEB Strategy Balanced fund (merging sub fund)	SEB Active 30 fund (receiving fund)
Share class	C (EUR) LU0660786715	B (EUR) SE0016075899
	UC (EUR) LU1764038458	F (EUR) SE0016075949
	HNWCB(EUR) LU1124616985	C (EUR) SE0016075907
Risk level SRRI scale	4	4
Main categories of financial instruments	Equities, interest bearing securities and funds.	Equities, interest bearing securities and funds.
Ongoing charges	C(EUR) 1.37 % UC(EUR) 0.75 % HNWCB(EUR) 1.12%	B(EUR) 1.10 % F(EUR) 0.60 % C(EUR) 0.90%
Investment policy	The Fund invests in equities, fixed income securities and funds anywhere in the world.	The Fund invests in equities, fixed income securities and funds. The Fund may invest anywhere in the world. Between 15% and 45% of the Fund’s assets must be exposed to the equities.
Benchmark	No Benchmark	MSCI AC World Index Net Return 20%, VINX Benchmark Cap Net Return Index 10%, OMRX Bond All 30%, OMRX T-Bill 20%, Barclays Global Aggregate Corporate 10%, Barclays Global High Yield Corporate 10%.

SEB Active 30 Key Investor Information
Detailed information about changes from Fund Management company

	SEB Strategy Opportunity fund (merging sub fund)	SEB Active 55 fund (receiving fund)
Share class	C (EUR) LU0660786806	B (EUR) SE0016076079
	UC (EUR) LU1764038532	F (EUR) SE0016076046
	HNWCB(EUR) LU1124617520	C (EUR) SE0016076061
Risk level SRRI scale	5	4
Main categories of financial instruments	Equities, interest bearing securities and funds.	Equities, interest bearing securities and funds.
Ongoing charges	C(EUR) 1.40 % UC(EUR) 0.73 % HNWCB(EUR) 1.15%	B(EUR) 1.45 % F(EUR) 0.78 % C(EUR) 1.20%
Investment policy	The Fund invests in equities, fixed income securities and funds anywhere in the world.	The Fund invests in equities, fixed income securities and funds. The Fund may invest anywhere in the world. Between 40% and 70% of the Fund’s assets must be exposed to the equities.
Benchmark	No Benchmark	MSCI AC World Index Net Return 35%, VINX Benchmark Cap Net Return Index 20%, OMRX Bond All 15%, OMRX T-Bill 15%, Barclays Global Aggregate Corporate 7.5%, Barclays Global High Yield Corporate 7.5%.

SEB Active 55 Key Investor Information
Detailed information about changes from Fund Management company

	SEB Strategy Growth fund (merging sub fund)	SEB Active 80 fund (receiving fund)
Share class	C (EUR) LU0660787010	B (EUR) SE0016076145
	UC (EUR) LU1764038615	F (EUR) SE0016076111
	HNWCB(EUR) LU1124617363	C (EUR) SE0016076137
Risk level SRRI scale	6	5
Main categories of financial instruments	Equities, interest bearing securities and funds.	Equities, interest bearing securities and funds.
Ongoing charges	C(EUR) 1.51 % UC(EUR) 0.79 % HNWCB(EUR) 1.26%	B(EUR) 1.55 % F(EUR) 0.83 % C(EUR) 1.30%
Investment policy	The Fund invests in equities, fixed income securities and funds anywhere in the world.	The Fund invests in equities, fixed income securities and funds. The Fund may invest anywhere in the world. Between 65% and 95% of the Fund’s assets must be exposed to the equities.
Benchmark	No Benchmark	MSCI AC World Index Net Return 50%, VINX Benchmark Cap Net Return Index 30%, OMRX T-Bill 10%, Barclays Global Aggregate Corporate 5%, Barclays Global High Yield Corporate 5%.