23 Oct 2018 14:26

SEB SICAV 2 – SEB Eastern Europe Small Cap: changes to be made in November 2018

We wish to inform you that we will make changes in SEB SICAV 2– SEB Eastern Europe Small Cap (the sub fund). These changes, summarised below, take effect 23 November 2018.

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 in section I, you may redeem your shares free of charge until 15:30 on 22 November 2018.

I. Summary of changes:

a) Investment strategy: the sub fund’s investment strategy expands to include both mid cap as well as small companies in Eastern Europe. This broader scope enables a wider range of investment opportunities and ease liquidity constraints on investments, both of which are in the interest of investors. Specifically, the sub fund may invest in equities and equity related transferable securities issued by small and mid-sized companies that are listed or traded on a regulated market in the eligible countries or exercise a tangible portion of their economic activity in eligible countries across Eastern Europe, including Greece, as listed in the sub fund’s prospectus. 

b) Name: the sub fund’s name will be updated to SEB SICAV 2– SEB Eastern Europe Small and Mid Cap, in order to reflect the broader investment scope.

c) Benchmark index: the investment team will start using a benchmark index, MSCI Emerging Markets Europe 10/40 Index (Net Return) to which it will compare the sub fund’s return.

d) Net asset valuation (NAV): when you as an investor place an order before the cut-off time of 15:30 CET, the NAV will be dated the same day as your order and calculated the day after your order – as long as neither of these days are bank holidays and the fund or funds are open for trading. We are implementing this change of cut-off time in order to align this sub fund with our other sub funds.

II. General information regarding recent EU regulations

The regulations mentioned below are in effect in all EU countries. Your investment in the is not affected by either of these regulations. 

The EU Benchmark Regulation, in effect as of 1 January 2018, increases the requirements for control and oversight, documentation and transparency. It aims to reduce the risk of benchmarks or indices being manipulated. The regulation primarily affects companies that produce benchmarks. Benchmarks and indices are used to determine the value of a financial instrument such as a fund.

The General Data Protection Regulation (GDPR) went into effect 25 May 2018. The regulation aims to enforce the protection of any data regarding EU citizens that contains personal and identifiable information – which organisations or companies have received.

 

Updated product documentation, dated November 2018, reflecting the changes described here will be available on www.sebgroup.lu and can also be requested from our registered office.