15 Jan 2019 10:50

Changes in SEB Private Banking Fund SICAV-SIF, SEB Modern Aggressive Fund, SEB Modern Growth Fund

We wish to inform you of the following planned changes in the umbrella SEB Private Banking Fund SICAV-SIF, as well as the two sub funds, SEB Modern Aggressive Fund, and SEB Modern Growth Fund. These changes, described below, take effect 1 March 2019.

You are not required to take action due to these changes, but it is important that you as an investor understand them. If you disagree with the planned changes, you may redeem your shares free of charge up until 15.30 (CET) 21 February 2019.

Changes in SEB Modern Aggressive Fund and SEB Modern Growth Fund

  • Swedish kronor will replace the euro as the base currency in SEB Modern Growth Fund and SEB Modern Aggressive Fund. Consequently, SEK classes will no longer be hedged.
  • The euro and Norwegian share classes will use partial hedging. Due to the change of base currency to Swedish kronor, we will introduce partial hedging to facilitate efficient portfolio management for investors in these share classes.
  • “PH” will be added to the euro and Norwegian kronor share classes to indicate “partial hedging.” See the tables below.

 

 SEB Modern Growth share classes 

Share class names prior to
implementation on  1 March 2019
“PH” added to indicate
partial hedging
ISIN codes
remain the same
C (EUR) C (PH-EUR) LU0414444447
C (H-SEK) C (SEK) LU0414444793
C (H-NOK)  C (PH-NOK) LU0465475860
HNWC (H-SEK) HNWC (SEK) LU0414444876
HNWC (EUR) HNWC (PH-EUR) LU1028170444

 

SEB Modern Aggressive share classes

Share class names prior to
implementation on  1 March 2019
“PH” added to indicate
partial hedging
ISIN codes
remain the same
C (EUR) C (PH-EUR) LU0414442078
C (H-SEK) C (SEK) LU0414444280
HNWC (H-SEK) HNWC (SEK) LU0414444363
HNWC (EUR) HNWC (PH-EUR) LU1028170527

Changes on the umbrella level
Some legal and editorial updates, as well as clarifications in the “Investment Restrictions” section of the issue document will also be implemented.

Updated documentation will be available
Updated product documentation, including the issue document, dated March 2019, will be available on www.sebgroup.lu and can also be requested from our registered office.