Investors are not required to take action due to the changes described here. If you do not wish to continue investing in the fund, you may redeem your shares without being charged a redemption fee. However, you must do this by cut-off time on 19 April 2017.
- Investment strategy: The fund will change from an index fund to a non-index fund. It will seek to track, without replicating, the performance of the NASDAQ EURO 50 Index NTR. However, the fund’s return can deviate from the benchmark because it complies with specific ethical and/or sustainability criteria in accordance with SEB’s Group Policy. The main investment universe will remain unchanged.
- Financial year: The fund’s new financial year will take effect 1 July 2017. This means the financial year starting that date will end 31 December 2017. However, starting in 2018, the fund’s financial year begins 1 January and ends 31 December the same year.
- Risk management process: The risk measurement method of the fund changes from Value at Risk methodology to the commitment approach to determine its global exposure. We regard the commitment method to be a more appropriate method considering the fund’s investment strategies. The commitment method calculates the fund’s derivatives exposure as if they are direct investments in the fund’s underlying positions. The commitment approach allows for hedging and netting. Previously the fund used Value at Risk methodology.
Updated product documentation for SEB Euroland Gratis, including the above mentioned changes, will be available on www.sebgroup.lu and, on request, at the registered office of the Management Company when the changes are implemented.