OREANDA-NEWS. December 21, 2010. AS SEB Varahaldus has decided to liquidate SEB Liquidity Fund (SEB Likviidsusfond) and has submitted an application to the Financial Supervision Authority on 15 December 2010 for authorisation concerning the liquidation of the fund, reported the press-centre of SEB.

The main objective of the SEB Liquidity Fund has been to offer shareholders liquidity and return which is higher than those of short-term term deposits. Interest rates in today’s market conditions have decreased considerably in relation to the adoption of the euro and SEB Varahaldus believes that the interest rate of the euro will not increase in the near future. Therefore, achieving the fund’s investment objective is more difficult and continuing the activity is unpractical.

Investors are recommended to submit a repurchase order for the Liquidity Fund as soon as possible in order to avoid the assets remaining in the fund for the liquidation proceedings.

As of 27 December 2010 fund saving standing orders for the SEB Liquidity Fund will be terminated. If investor submits a repurchase order for all of the units of the fund before 27 December, the fund saving standing order should be terminated as well in order to suspend the automatic movement of assets from your account to the SEB Liquidity Fund.

The fund saving standing order can be terminated in the Internet Bank.