Liquidation of the Euro reserve fund concluded
Liquidation of the Euro reserve fund (ISIN LV0000400067), which was initiated on March 24, 2015, has been concluded. All shares of the fund have been redeemed and all investments in the fund have been disbursed to clients. Clients have received EUR 2.07100 for each share of the fund.
Euro reserve fund was created as a money market fund with a purpose to invest only in fixed-income financial instruments: deposits and government short-term bonds. The decision to liquidate the fund was made by taking into account the record-low interest rates in Eurozone's financial market, very limited opportunity to ensure sufficient returns as well as low demand from clients.
We hereby wish to remind those clients who had made investments in the fund that:
- any income from capital gains if such gains arise from the sale of investment certificates are subject to Personal income tax of 15%;
- according to SEB bank's pricelist, the monthly fee for an empty securities account is EUR 1. If you do not plan any other securities transactions in the foreseeable future, we invite you to consider whether a securities account is necessary for you any longer. You can close the securities account by submitting an application in the internetbank or in SEB branch.
If you have any other questions about the liquidation of "Eiro rezerves fonds" or any other investment opportunities, we kindly invite you to visit your nearest SEB branch or call +371 26668777.
