Information about SEB Investment Management’s exposure towards the Russian market
Russia's invasion of Ukraine has, in addition to the serious humanitarian consequences, led to very strong movements in the world's capital markets. More than a week has now passed since the Russian stock exchange (MOEX) closed due to Russia's invasion of Ukraine. Overall, SEB Investment Management has limited exposure to the Russian market, and SEB IM intention is to sell those holdings as soon as market conditions allow. Nonetheless, there are only a limited number of our funds that have direct holdings in the Russian market.
SEB Investment Management intend to sell all Russian holdings as soon as market conditions allow. This will be done in a responsible and controlled manner to protect the interests of fund unit holders. When and how this will be done is still very uncertain, due to the closure of the Russian market.
The trading with SEB Eastern Europe Small & Mid Cap Fund fund units have been suspended since 28.02.2022. More info from here. Due to this, SEB Investment Management AB will not charge a management fee for the fund from 28 February 2022, and as long as the fund is suspended for trading.
SEB has two additional Luxembourg registered funds with direct exposure to the Russian market. The exposure in these funds is less than 1% of the value of the funds. Therefore, the valuation of the funds has not been significantly affected and the funds have been able to be kept open for trading.
ISINs and fund unit classes with direct holdings in the Russian market that are suspended for trading:
SEB Eastern Europe Small and Mid Cap Fund (Estimated exposure to Russia: 35-40%)
- LU0086828794 C (EUR)
- LU1822878572 UC (EUR)
ISINs and fund unit classes with direct holdings in the Russian market:
SEB Emerging Markets Fund (Estimated exposure to Russia: 0,87%)
- LU0037256269 C (USD)
- LU1808747478 UC (EUR)
- LU2249630687 UC (USD)
SEB Global Exposure Fund (Estimated exposure to Russia: 0,11%)
- LU2196326651 C (SEK)
- LU0389150375 C (USD)
- LU0047324644 D (USD)
Detailed information is available here.
Past performance does not guarantee future performance. The value of investment funds and other financial instruments may rise as well as fall and there is no guarantee you will recover your original investment. Some of these funds are classified as higher risk funds and may, due to their composition and management methods, fall or rise sharply in value. Key investor information documents and prospectuses are available on www.sebgroup.lu/funds.
