SEB Fund 3 - SEB Medical Fund merges with SEB Concept Biotechnology 

The management company, SEB Investment Management, has decided to merge SEB Fund 3 - SEB Medical Fund with SEB Concept Biotechnology, the receiving fund. The merger will be carried out 21 April 2023.   

The reason for the merger is to provide the benefit of a larger fund size which would result in greater efficiency from a portfolio management, operational, and cost-effective perspective.  

This is a merger by absorption, whereby the merging sub-fund's (SEB Fund 3 – SEB Medical Fund) holdings - assets and liabilities - will be transferred to the receiving fund (SEB Concept Biotechnology), and SEB Fund 3 - SEB Medical Fund will cease to exist. 

The merging sub-fund and the receiving fund have similar investment objectives and fundamental investment strategies and are managed by the same investment team. Therefore, the receiving fund will continue to follow the same investment objective and strategy as previously, and the fund’s fees will not be affected.  

As of 21 April 2023, due to the terms and conditions of the standing payment order for fund saving agreement, your fund savings in SEB Medical Fund will go to SEB Concept Biotechnology fund, if you do not cancel the fund savings standing order before 14th April 14:00.

Unitholders of SEB Medical Fund, who do not wish to be included in the Merger, are entitled to request, the redemption (ie submit sales order to the bank) of their shares until 14 April 2023 14.00. Unitholders, who do not redeem their units in the merging sub fund before cut-off time 14.00 on 14 April 2023, will automatically receive units in the receiving fund SEB Concept Biotechnology fund.

It is not possible to buy, sell or switch from April 14 to April 21 SEB Medical Fund units. Also, the purchase transactions of the fund savings standing order falling during this period will not be executed or postponed. As of April 21, it is possible to trade only with the SEB Concept Biotechnology fund units. 

Detailed information about the merger and new fund is available at the following SEB Group link: sebgroup.lu and upon request at the registered office of the Management Company.

Important dates 

• 14 April 2023: Cut-off time on this day is the last chance to sell units in the merging sub-fund and to cancel the fund savings standing order. 
• 21 April 2023: The merger takes effect.

Affected unit classes and ISIN