SEB Informs Holders of SEB DeLuxe Fund Family Sub-Funds
OREANDA-NEWS. August 16, 2012. The Supervisory Board of SEB Asset Management S.A. has decided to merge the sub-funds of the SEB Optimus fund family with the sub-funds of the SEB deLuxe fund family as well as to replace the investment managers of all three SEB deLuxe sub-funds. Neither change will affect the unit holders to any significant degree or entail any changes in terms of the investment policy or fees, reported the press-centre of SEB.
Merger of the SEB Optimus funds with the SEB deLuxe funds on 21 September 2012
The European Portfolio 70/30 sub-fund of SEB Optimus will be merged with the Multi Asset Balance sub-fund of SEB deLuxe;
The European Portfolio 30/70 sub-fund of SEB Optimus will be merged with the Multi Asset Defensive plus sub-fund of SEB deLuxe;
The funds will be merged due to commercial considerations: the objective is to improve performance and cost-effectiveness.
Failing the required quorum at the extraordinary general meeting of the shareholders of a sub-fund due for merger, the calling of a new general meeting may impact the timing of the merger. The merger decision has been approved by Commission de Surveillance du Secteur Financier (CSSF), the Financial Sector Supervisory Commission of Luxembourg.
Merger information is available at www.sebgroup.lu , under SEB Asset Management S.A., and in announcement by the management company, available as English-language document on the Web site of SEB.
Holders of units in the SEB deLuxe Multi Asset Balance and SEB deLuxe Multi Asset Defensive plus funds who do not accept the merger-related changes will have the option of selling back their units, subject to no redemption fee, before the merger due to be completed on 21 September 2012.
Replacement of investment managers on 1 October 2012
The Supervisory Board of SEB Asset Management S.A. has decided to replace the investment managers of all three sub-funds in the SEB deLuxe fund family. From 1 October 2012, investments will be managed by SEB Investment Management AB instead of SEB Investment GmbH, the current manager.
In October 2012, the change will be reflected in a revised public offer prospectus and in the key information documents of SEB deLuxe, available at www.sebgroup.lu , under SEB Asset Management S.A., and on the Web site of SEB at www.seb.ee/fondikursid.
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