We wish to inform you of the changes planned for sub fund SEB SICAV 2 – SEB Credit Multi Strategy. The changes are valid as of 10 June 2016 and are included in the sub fund’s prospectus as of that date. You are not required to take action in response to the changes which are briefly summarised below.
Change of investment policy
Going forward, the sub fund’s investment policy will have a broader focus. Rather than mainly focussing on credit related investments the investment policy will have a multi-strategy approach, primarily investing in fixed income markets, credit markets and foreign exchange markets. The aim is to provide new investment opportunities as well as reduce the risk in the sub fund.
Furthermore, to make portfolio management more efficient the sub fund will be able to utilise different investment techniques and invest in different fixed income related instruments including derivatives. A full description is included in the sub fund’s prospectus and also described in the Key Investor Information Documents (KIID’s).
In addition to the above changes in the investment policy the sub fund will be limited to investing a maximum of 15% of the total net assets in asset-backed securities and mortgage-backed securities. Additionally, the sub fund may not invest more than 10% of its net assets in units and/or equities of other UCITS funds or UCI funds, including exchange traded funds.
For more information regarding the sub fund’s investment policy, kindly read the fund’s prospectus.
In order to better reflect the new investment policy, the name of the sub fund will be changed to SEB SICAV 2 – SEB Alternative Fixed Income.
The section in the prospectus describing the level of leverage utilised by the sub fund will be rephrased for the sake of clarification. The previous text described the average level of leverage, whereas the new text describes the maximum level of leverage.
Change in fee
The management fee of the C share classes of the sub fund will be lowered from 1.25% to 1.10% per annum.
The effective management fee for C (EUR), LU0920714648, and C (H-SEK), LU0920714721, was already lowered to 1.10% as of 1 April 2015.
If you do not wish to stay invested in the sub fund due to the changes described in this notice you may redeem your shares in the sub fund, free of charge, until 9 June 2016. This is in accordance with the terms and conditions of the fund’s prospectus.
Product documentation for SEB SICAV 2 – SEB Alternative Fixed Income, including the changes described here, will be available on www.sebgroup.lu and, on request, at the registered office of the Management Company.