New portfolio delegation for SEB’s Luxembourg-domiciled funds
SEB Investment Management AB has delegated portfolio management to two new legal entities.
The management company and/or AIFM, SEB Investment Management AB (Org. no. 556197-3719) (“SEB IM”), has delegated portfolio management to two new legal entities:
- SEB Alternatives AB (Org. no. 559482-9094) (“SEB Alternatives”), effective from 10 December 2024, and
- SEB Asset Management AB (Org. no. 59419-2774) (“SEB AM”), effective from 1 January 2025.
SEB AM will be responsible for managing liquid portfolios, while SEB Alternatives will manage private equity, real estate, and infrastructure assets. Both entities are part of SEB Group.
In addition, SEB IM will change its name to SEB Funds AB, and SEB Investment Management AB, Luxembourg branch, will also change its name accordingly to SEB Funds AB, Luxembourg branch, both effective from 14 March 2025.
The prospectuses or issuing documents of SEB’s Luxembourg funds have been updated to reflect these changes. The update also incorporates information required under the new CSSF Circular 24/856 regarding NAV calculation errors.
Investors should note that, following the above-mentioned delegations, the management fee and/or AIFM fee will remain unchanged. No additional investment manager/portfolio manager fee or investment adviser fee (as applicable) will be incurred.
As a client, no action is required on your part due to these changes, and the value of your shares/units in the fund(s) will not be impacted. However, it is important that you are aware of these changes.
Please refer to the Appendix: SEB Luxembourg Funds for information and delegations for each specific fund.