The sub fund, SEB Fund 1 – SEB Emerging Markets Corporate Bond Fund, is a feeder fund whose portfolio has been primarily invested in the master fund, Gramercy Corporate Emerging Market Debt Fund.
Liquidation of the sub fund
Additionally, Gramercy Corporate Emerging Market Debt Fund has announced the compulsory redemption of all shares in the fund. Consequently, we will have to liquidate the sub fund SEB Fund 1 – SEB Emerging Markets Corporate Bond Fund. A compulsory redemption means that all the shares in the master fund will be liquidated.
The master fund expects to liquidate approximately 90% of its assets by late June. The remaining assets are expected to be liquidated in July.
Investors in SEB Fund 1 – SEB Emerging Markets Corporate Bond Fund will be sent a reimbursement payment that is in relation to the value of their investment at the time of liquidation. We plan to distribute reimbursement payments as soon as possible after the liquidation is finalised.
Any expenses related to the sub fund’s liquidation are borne by the Management Company, SEB Investment Management.