10 Apr 2019 10:39

Prolonged duration for SEB Private Equity Fund SICAV-SIF – SEB Private Equity Opportunity Fund I and II

The duration for both of the sub funds will be prolonged until all underlying investments have been wound up. The Board of Directors has determined this is in the best interest of the investors and is in accordance with the rules of the respective sub fund’s issue document. The portfolio manager believes that an extension is needed to optimise the value of the remaining investments.

SEB Private Equity Fund SICAV-SIF – SEB Private Equity Opportunity Fund I
We wish to inform you that the Board of Directors for SEB Private Equity Fund SICAV-SIF – SEB Private Equity Opportunity Fund I, the sub fund, decided on 2 April 2019 to prolong duration until all underlying investments have been wound up, which is expected to occur within three years. Consequently, we expect the sub fund to expire 30 November 2022.

Most of the remaining assets are well into the harvest phase or are already fully realised. The market for realisation continues to be strong. To date, 147% of drawn capital has been returned to the shareholders (net proceeds of EUR 98.7 million), with 20% (approximately EUR 13.8 million) returned in the past 12 months. Currently, a market value of approximately EUR 15.8 million remains in the portfolio.

Please note the sub fund will no longer follow the risk diversification rules, because it has reached its exit phase. The sub fund’s share class affected by the prolonged duration has ISIN code LU0268880266.

SEB Private Equity Fund SICAV-SIF – SEB Private Equity Opportunity Fund II
We wish to inform you that the Board of Directors for SEB Private Equity Fund SICAV-SIF – SEB Private Equity Opportunity Fund II, the sub fund, decided on 2 April 2019 to prolong duration until all underlying investments have been wound up, which is expected to occur within three years. Consequently, we expect the sub fund to expire 16 April 2022.

Most of the remaining assets are well into the harvest phase or are already fully realised. The market for realisation continues to be strong. To date, 154% of drawn capital has been returned to the shareholders (net proceeds of EUR 219.6 million), with 29% (approximately EUR 41 million) returned in 2018. Currently, a market value of approximately EUR 58 million remains in the portfolio.

Please note the sub fund will no longer follow the risk diversification rules, because it has reached its exit phase.

Following the reduction of the sub fund’s management fee in 2017, we would like to clarify the effective management fee levels in each share class:

Share class ISIN code Effective

management fees

Maximum

management fees

(since March 2017)

HNWH (EUR) LU0499433182 0.375% 1.00%
HNWL (EUR) LU0499433349 0.750% 1.00%
HNWM (EUR) LU0499433265 0.500% 1.00%
HNWU (EUR) LU0499433000 0.375% 1.00%