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FUNDS ANNOUNCEMENTS - 2020 11 17 - 10:20

About changes in SEB Fund 3 – SEB Technology fund

SEB Investment Management AB plans to make changes in SEB Technology Fund. After changes sub fund will continue to be actively managed and to invest primarily in companies in the technology sector. Fees for the sub fund are not affected by the described changes.

You do not need to take any actions due to these changes. However, if you do not wish to remain invested in the sub fund, you may redeem your units until 9 December 2020 at 14.00 Latvian time.

As of 10 December 2020, following changes will take effect:

  • Management of the fund: outsourced from SEB Investment Management AB to global investment manager BlackRock. We chose BlackRock because of their proven track record and their expertise in investing in technology companies.
  • Fund strategy:  BlackRock’s fund management team will use a fundamental investment process instead of the current ESG-driven quantitative process. Additionally, BlackRock’s fund management team will include emerging markets in the sub fund’s investment universe.
  • Investment strategy: broadens to include the opportunity to invest in emerging markets, which will facilitate greater investment flexibility, providing more investment opportunities. Additionally, the fund will be allowed to invest in Asian markets, including a maximum of 15% of the fund’s total net assets in China A-shares.
  • Valuation day: transaction orders placed before 14:00 Latvian time on a bank business day will be processed based on the sub fund’s net asset value (NAV) for the same day and calculated the following bank business day.
  • Benchmark index: changes from MSCI World Information Technology Net Return Index to MSCI AC World Information Technology Net Return Index. AC stands for “All Country.”

The changes affect both classes of the sub fund:

SEB Fund 3 – SEB Technology Fund, C (USD), ISIN code LU0427864466
SEB Fund 3 – SEB Technology Fund, D (USD), ISIN code LU0047324487

Information from Fund management


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