Changes in SEB investment funds
As of 6 September, units of the funds managed by SEB Investment Management AB in fund classes B, C, and D will be exchanged for new units in fund classes U and F.
New classes of U- and F-type investment fund units were introduced in 2021. Exchanging old fund units for a new class of fund units is a continuation of the aim to achieve a simpler structure for investment-related fees.
Class B, C, and D investment fund units in the securities account will be automatically switched to the corresponding new fund classes, with the investment policy, strategy, risk level and transaction cycle all remaining unchanged.
The change mainly concerns pricing
The new U- and F-type fund classes have no entry, exit or transaction fees. The new type of fee will be a monthly administration fee payable to the bank, along with recurring fees, which will be included in the unit price and will be lower than before. A more detailed overview of each fund taking part of the switch is available on the SEB website.
As of 6 September, when the process of switching of fund units to new fund class starts, no transactions will be allowed in old fund classes. Transactions with old fund class fund units may be performed until 6 September at 14.00. The standing payment order for fund saving will be automatically transferred to the new fund classes as of 6 September, and will continue under the same conditions when switching to the new share class.
If you do not wish to participate in the fund class switch, you can sell your existing units without exit fees until 14.00 on 6 September, and terminate the corresponding standing payment order for the fund saving contract before 6 September.
According to the plans, the process for changing the fund classes will end on 20 September, and it will then be possible to trade in the new unit classes of the investment fund.
If you have any questions, please call us on 665 5100 or send us a letter via the “Contact” -> “Letter to the bank” menu item in the Internet Bank.
The foregoing information is purely informative and should not be construed as an investment recommendation or advice, nor an offer of a product or service. Before making an investment decision, we ask you to carefully read the terms and conditions of the security and other relevant information, the risks involved in the investment, and to assess the appropriateness and suitability of the investment. Investments may be subject to a tax liability. General information on investing and securities is available on the investor protection website of AS SEB Pank: Investor protection | SEB. If you have any questions, please contact your bank’s client executive or your tax, financial or legal advisor.