Updates to pre-contracutal documents for several SEB SICAV funds

23 January 2026 09:30

Risk information

Past performance is not indicative of future results. The value of fund units/shares can rise as well as fall and you may not get back the amount you invested. Funds with a risk level of 5-7 according to the fund’s key information document (KID) can both decrease and increase significantly in value. Fund information, including the KID, prospectus, and sustainability-related disclosures can be found at Our Luxembourg funds.

Summary of investors' rights

Information in German

SEB Funds AB will implement general updates to the pre-contractual documents (“PCDs”) for sub-funds under the SEB SICAV 1 and SEB SICAV 2 umbrellas, as well as SEB Micro Cap Fund SICAV-SIF, effective 23 February 2026.

Sub-funds affected

SEB SICAV 1 – SEB Emerging Markets Fund
SEB SICAV 2 – SEB Eastern Europe Small and Mid Cap ex. Russia Fund
SEB SICAV 2 – SEB Listed Private Equity Fund
SEB SICAV 2 – SEB Nordic Small Cap Fund
SEB Micro Cap Fund SICAV-SIF

You do not need to take any action, and the value of your investment will not be affected. However, we want to ensure you are informed of these updates.

General updates to PCDs in the prospectus

As part of our regular review of sustainability policies and SFDR-related disclosures, we have revised the PCDs for all sub-funds, as detailed in Annex I of the prospectus. These updates reflect enhancements to the Management Company’s sustainability policy.

We have also improved the clarity and accuracy of the language used in the PCDs to support greater transparency for investors.

Summary of key updates

Clarified that nicotine products are excluded under the same terms as tobacco products.
Specified exclusions for white phosphorus and other prohibited or controversial weapons.
Updated exclusion thresholds to align with Paris-Aligned Benchmark (PAB) standards:
- 1 per cent revenue cap for coal distribution
- 1 per cent revenue cap for metallurgical coal mining
Streamlined exclusions wording by referencing the Management Company’s overarching sustainability policy, which is reviewed regularly, rather than listing individual thresholds.
Clarified the policy on military equipment:
- Sub-funds that previously excluded certain military-related investments now permit holdings in non-combat military equipment, consistent with our current Swedish market practice.

For further details, we encourage you to review the full sustainability policy here: SEB Asset Management – Our sustainability approach.

Specific updates

SEB Emerging Markets Fund

The minimum proportion of sustainable investments in SEB Emerging Markets Fund has been increased from 10.00% to 20.00%. This change will not affect the sub-fund’s portfolio composition, fees or risk profile.

The “Sustainability approach” section of the general part of the prospectus, as well as the sustainability-related wording in the “Investment objective and policy” section of the sub-fund description, will be updated to improve clarity and transparency. These are editorial changes and do not alter investment practices. They aim to improve the description of how the Management Company assesses potential sustainability risks and their likely impact on sub-fund performance, and how active ownership is exercised.

SEB Nordic Small Cap Fund

SEB Nordic Small Cap Fund has undergone specific revisions reflecting its environmental, social and governance (ESG) attributes. The changes will not affect the sub-fund’s portfolio composition, fees or risk profile.

Old PCD disclosure	New PCD disclosure
☐ It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of __% of sustainable investments	☒ It promotes Environmental/Social (E/S) characteristics and while it does not have as its objective a sustainable investment, it will have a minimum proportion of 20.00% of sustainable investments
☐ with an environmental objective in economic activities that qualify as environ- mentally sustainable under the EU Taxonomy	☐ with an environmental objective in economic activities that qualify as environ- mentally sustainable under the EU Taxonomy
☐ with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy	☒ with an environmental objective in economic activities that do not qualify as environmentally sustainable under the EU Taxonomy
☐ with a social objective	☐ with a social objective
☒ It promotes E/S characteristics, but will not make any sustainable investments	☐ It promotes E/S characteristics, but will not make any sustainable investments

Reason for updates

When the original disclosures were prepared, data limitations led to a conservative approach, with some sub-funds reporting minimal or zero sustainable investment exposure.

Improved data availability has since confirmed that many portfolio companies meet the relevant sustainability criteria. Accordingly, the minimum level of sustainable investments has been revised upwards, reinforcing our commitment to responsible investment.

Other updates to the prospectuses

The prospectus also includes the following updates:

For SEB Emerging Markets Fund, the maximum management fee has been reduced from 1.75% to 1.50% per annum of the sub-fund’s net assets.
For SEB Listed Private Equity Fund, the “Investment objective and policy” section has been updated to specify that the sub-fund will invest in a limited number of equities and will normally hold between 30 and 45 companies.
The composition of the boards of directors of SEB SICAV 1 and SEB SICAV 2 has been updated, with Alan Ridgway being replaced by Xavier Olsson, Head of Distribution Markets & Transfer Agency of SEB Funds AB, Luxembourg Branch.
The composition of the board of directors of SEB Micro Cap Fund SICAV-SIF has been updated, with Annika Ivert and Ali Aktas stepping down and the following persons appointed as new board members: (i) Xavier Olsson, Head of Distribution Markets & Transfer Agency, SEB Funds AB, Luxembourg Branch; (ii) Caroline Rifall, Head of Legal, FCP and Regulatory Office, SEB Asset Management Holding AB; and (iii) Gustaf Runius, Head of Asset Management Products & Solutions, SEB Asset Management Holding AB.
The legal name of SEB Investment Management AB has been changed to SEB Funds AB as of 14 March 2025, and the prospectus reflects this change.

How you as an investor are affected

These updates will not have any foreseeable material impact on your investment. The sub-funds’ strategies and objectives remain unchanged. No fee adjustments will occur other than the maximum management fee reduction in SEB Emerging Markets Fund, described above.