The board of directors of the management company of SEB European Equity Small Caps (the Fund) would like to inform you of a clarification in the wording of the Fund's prospectus.
The definition of small cap companies, as described in Section 3. Investment objective and policy, is now written as follows: "The issuers of these investments are primarily European small cap companies. The market capitalisation of these companies may not fall below the lowest and/or exceed the highest market value of the companies included in the MSCI Europe Small Cap Net Return Index (a reinvesting index that includes equities of European small cap companies) as measured after the said index rebalancing. The inclusion of small cap companies which have their registered office in Eastern European countries is possible, up to a maximum of 10% of the Fund's net assets. 10% of the Fund's assets can be invested in companies regardless of their market capitalisation."
The following paragraph has been deleted: "At the time the investment is made, the companies in which the Fund invests generally have a market capitalisation of under EUR 2 billion and a free-float of more than EUR 50 million."
The reason for the change is that the classification of companies based on market value varies over time and among counterparties. The investment profile and process remain unchanged. Unitholders do not need to take any action in relation to the changes described here.
Product documentation for SEB European Equity Small Caps, including the above mentioned changes, will be available on www.sebgroup.lu when the updated prospectus is received from Commission de Surveillance du Secteur Financier (CSSF) and upon request at the registered office of the Management Company.