Notice to the unitholders of SEB Fund 4 – SEB USD Currency Fund
We wish to inform you that between November 8 to 15, 2024 SEB Fund 4 – SEB USD Currency Fund will be merged with newly launched SEB Fund 5 – SEB USD Currency Fund.
The Fund management company decided to reduce the number of legal fund structures they are managing, thereby potentially lowering administrative handling costs to you as a client.
This is a merger by absorption, whereby the merging sub-fund's holdings – assets and liabilities – will be transferred to the receiving sub-fund, and SEB Fund 4 – SEB USD Currency Fund will cease to exist. The merger does not have an impact on the receiving sub-fund’s composition of assets, as the receiving sub-fund is currently without investors and was created for the merger. The rebalancing of the merging sub-fund’s portfolio before the merger is not foreseen, but minor immaterial adjustments of the portfolio might occur.
Both sub-funds have very similar investment objectives, investment strategies and have the same risk profile.
List of affected ISINs:
| SEB Fund 4 – SEB USD Currency Fund (merging sub-fund) | SEB Fund 5 – SEB USD Currency Fund (receiving sub-fund) |
|---|---|
| LU2249630505 UC (USD) | LU2847688178 UC (USD) |
| LU0011924932 C (USD) | LU2847688095 C (USD) |
It is not possible to buy, sell or switch from November 8, 2024 SEB Fund 4 – SEB USD Currency Fund units. Also, the purchase transactions of the fund standing order falling during this period will not be executed or postponed. As of November 15, 2024 it is possible to trade only with the SEB Fund 5 – SEB USD Currency Fund.
As of 15 November 2024, due to the terms and conditions of the fund standing order agreement, your fund standing order in SEB Fund 4 – SEB USD Currency Fund will go to SEB Fund 5 – SEB USD Currency Fund, if you do not cancel the fund standing order before 15th November, 2024.
Unitholders of SEB Fund 4 – SEB USD Currency Fund, who do not wish to be included in the Merger, are entitled to request, the redemption (i.e. submit sale order to the bank) of their units until 8 November 2024 14:00. Unitholders, who do not redeem their units in the merging sub-fund before cut-off time 14:00 on 8 November 2024, will automatically receive units in the receiving fund SEB Fund 5 – SEB USD Currency Fund.
As usual, no fees are charged for purchases or sales in the merger related sub-fund. The merger will not result in any tax implications for you as a participant. Note that redemption can result in taxation. Kindly consult your financial advisor.
