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FUNDS ANNOUNCEMENTS - 2021 01 15 - 09:00

About changes in SEB mutual fund class offering

We are constantly following market trends and changes in law to improve the investment services provided to our customers. From 15 January 2021 we are offering 22 new SEB U class mutual investment funds, which replace the C class mutual funds while maintaining the investment policy, strategy, risk level and trading cycle.

We are constantly following market trends and changes in law to improve the investment services provided to our customers. From 15 January 2021 we are offering 22 new SEB U class mutual investment funds, which replace the C class mutual funds while maintaining the investment policy, strategy, risk level and trading cycle.

The new U class mutual funds have a different cost structure, which provides a clear and transparent overview of the total fees. They consist of:

  1. fund management fee, which is calculated daily and included in the price of investment fund certificate. Compared to the C class mutual funds, the management fee is noticeably lower for the new U class mutual funds, because it does not provide retrocessions to the fund distributor;
  2. monthly administration commission of the bank, which includes unlimited amount of subscription, regular subscription, redemption and switch transactions for mutual fund units, as well as the custody of securities in the securities account without any additional fees.

Comparison of total costs for new and old funds is available on MiFID examples of costs and charges.

As of 15 January 2021, C class mutual funds are no longer available for purchase, however, all the active regular subscription orders of C class mutual funds remain valid. If you have C class mutual funds in your portfolio they will not be automatically redeemed or switched to U class mutual funds – you can still keep these funds in your possession and continue to receive retrocessions. If you wish to redeem or switch C class mutual funds in your portfolio to the new U class mutual funds, you can do it free of charge.

Contacts

  • +371 26668777
    +371 67779988

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    Mon - Fri 08.00 - 20.00

    Business customers

    Mon - Fri 08.30 - 18.00

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