Changes in SEB Strategy Fund

SEB Investment Management AB plans to make changes in SEB Strategy Fund affecting all four sub funds, SEB Strategy Defensive, SEB Strategy Balanced, SEB Strategy Opportunity and SEB Strategy Growth. Kindly note that changes described here will become effective on 23 October 2017.

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.

Common changes for all sub funds:

• The sub funds will consider additional ethical and/or sustainable principles which can be decided by the Management Company at any time. This is in addition to the standard sustainability principles referred to in the general part of the prospectus. The latest updated information regarding these additional principles will be available on the website www.sebgroup.lu.
• The fund's financial year will start 1 January and end 31 December each year. Previously, the financial year was 1 November to 31 October. To avoid confusion resulting from the multiple re-ports during the transition period, the audit period is extended from the 1 November 2016 to the 31 December 2017.
• The funds’ updated prospectus will reflect regulatory updates, clarifications, minor formal and editorial changes.

Changes in sub fund SEB Strategy Defensive:

• The possibility to invest in open ended Real Estate Funds will be removed.
• The investment horizon for the typical investor will be lowered from three to two years.

In addition to the changes described above, we would like to inform you that the four sub funds’ investment process will be modernised and further developed to include direct investments. This is in line with the current investment policies for the sub funds in the prospectus which permit investments in investment funds as well as direct investments in stocks, bonds and other securities. The changes in the fund’s investment process will start in autumn 2017 and be gradually implemented for the best possible execution. The respective risk levels of the sub funds will not change due to the change in the investment process. Once the changes are implemented, the majority of the sub funds’ holdings will be directly invested in individual securities. This larger portion of direct investment will make it easier for the management team to take sustainability factors into account when investing.