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Changes in SEB High Yield – SEB European High Yield Fund

We wish to inform you that we plan to make changes in SEB High Yield – SEB European High Yield Fund. These changes, described below, take effect 12 December 2017.

You are not required to take action due to these changes. However, if you disagree with the planned changes you may redeem your units free of charge until 11 December 2017.

a) Change of risk calculation method
The sub fund will change its risk calculation method from Value at Risk (VaR) to the commit-ment approach. We decided to make this change because we regard the commitment meth-od to be better suited to calculating the sub fund's global exposure.

b) Financial year: SEB High Yield (the "Fund") will change financial year as from 1 January 2018. In order to gradually change the financial year of the Fund, the financial year ending on 31 October 2017 will be extended to 31 December 2017. However, starting in 2018, the Fund's financial year begins 1 January and ends 31 December the same year.

Updated product documentation, including SEB High Yield's prospectus dated December 2017, will be available on www.sebgroup.lu and can also be requested from our registered


SEB Investment Management AB, Luxembourg branch