Notice to the unitholders of SEB Green Bond Fund
We wish to inform you that between November 8 to 15, 2024, SEB Green Bond Fund will be merged with newly launched SEB Fund 5 – SEB Green Bond Fund. The Fund management company decided to reduce the number of legal fund structures they are managing, thereby potentially lowering administrative handling costs to the client.
This is a merger by absorption, whereby the merging fund's holdings – assets and liabilities – will be transferred to the receiving sub-fund, and SEB Green Bond Fund will cease to exist. The merger does not have an impact on the receiving sub-fund’s composition of assets, as the receiving sub-fund is currently without investors and was created for the merger. The rebalancing of the merging fund’s portfolio before the merger is not foreseen, but minor immaterial adjustments of the portfolio might occur.
Merging Fund and receiving sub-fund have very similar investment objectives, investment strategies and the same risk profile, however receiving sub-fund has greater minimum allocation in green bonds of 85% compared to merging fund’s 80%.
List of affected ISINs:
SEB Green Bond Fund (merging fund) | SEB Fund 5 – SEB Green Bond Fund (receiving sub-fund) |
---|---|
LU2625991919 UC (EUR) | LU2847674384 UC (EUR) |
It is not possible to buy, sell or switch from 14:00 November 8, 2024 SEB Green Bond Fund units. Also, the purchase transactions of the fund standing order falling during this period will not be executed or postponed. As of November 15, 2024, it is possible to trade only with the SEB Fund 5 – SEB Green Bond Fund.
As of November 15, 2024, due to the terms and conditions of the fund standing order agreement, client’s fund standing order in SEB Green Bond Fund will go to SEB Fund 5 – SEB Green Bond Fund, if client do not cancel the fund standing order before November 15, 2024.
Unitholders of SEB Green Bond Fund, who do not wish to be included in the merger, are entitled to request, the redemption (i.e. submit sale order to the bank) of their units until November 8, 2024, 14:00. Unitholders, who do not redeem their units in the merging sub-fund before cut-off time, will automatically receive units in the receiving fund SEB Fund 5 – SEB Green Bond Fund.
No fees are charged for purchases or sales in the sub-fund. The merger will not result in any tax implications for participants. Note that redemption can result in taxation. Kindly consult your financial advisor.
Detailed information about the merger and new fund is available at the following SEB Group link: Sebgroup.lu.