Mutual fund changes

The meeting is held at Storebrand’s premises in Professor Kohts vei 9 at Lysaker at 13:00. If shareholders wish to participate, this must be registered before 27 March. Shareholders can contact stemmefond@storebrand.no or fond@dnb.no.

Planned implementation date for the merger is 22. 2024 April

All information can be found on Storebrand’s website:

Announcements - Storebrand.com

Proposed merger of Delphi Europe and Delphi Global

We would like to inform you that the share fund ODIN Europa will be merged with ODIN Global by 18 March 2024. The funds are managed by ODIN Management AS, and the following share classes will be affected:

• ODIN Europa C (NO0010029044) merged with ODIN Global C (NO0010028988)
• ODIN Europe D (NO0010748247) merged with ODIN Global D (NO0010732852)

How the merger will take effect

There is no need for shareholders to take any action in this regard. The fund will be closed for trading on Monday 11 March 2024, and then the merger will be in progress and you will soon see your new holding in your fund account.

Any savings schemes will be transferred to the acquiring fund.

Potential tax consequences

Mergers do not result in any tax realisation, but if you choose to trade, normal tax rules apply. When a personal customer exchanges funds or sells shares, the transaction will trigger a tax realisation where profits are liable for tax and losses will be tax-deductible. If the holdings are in a Share Saving Account (ASK), no exchange or sale will trigger a tax liability. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. Deductions for losses within ASK only take effect when the account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.

Further information about the merger can be found on ODIN’s website

We have sent letters to shareholders in SEB Choice Asiafond ex Japan (LU00119006769). This is a fund managed by SEB Investment Management, and they have decided that the fund should be merged with the Swedish registered fund, SEBfond ex Japan (SE0021150141). This is a fund that does not DNB distributes and therefore your fund is liquidated and shares were redeemed at the end of February.

How the liquidation will take place

There is no need for shareholders to take any action in this regard. The fund is already closed to trading and any savings agreements you have in the fund have been closed. If you have the fund placed in your DNB Share savings account (ASK ) the amount will be transferred to your ASK bank account. However, if you have a holding outside of ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

We inform shareholders about important changes that affect those who have invested in share class N in Norwegian-registered DNB funds.

This is a net share class where the revenue is divided between the producer (DAM) and distributor (DNB Bank). There is already a share class A, which is identical to share class N, both in terms of investments and costs.

Since it is not appropriate to have two identical share classes, we have received approval from the Financial Supervisory Authority to merge these. This means that your shares in share class N will be transferred to share class A. This will have no consequences for shareholders.

Moving between share classes – fully automatic

Shareholders do not need to do anything. The move takes place automatically with the price date 15.03.2024. If savings agreements, they are also automatically moved.

It is closed to trading in share class N on 13.03.2024, at the same time the savings agreements are moved to the new share class.

The move has no tax implications for you.

Due to technical challenges, the N share classes will be temporarily continued in the Pension Account Flex.

We would like to inform you that the SEB Eastern Europe Small Cap fund (ISIN: LU0086828794) has been split (fissed) into two funds. The original fund changes its name to SEB SICAV 2 – SEB Eastern Europe Small and Mid Cap ex. Russia Fund

The illiquid share consisting of Russian exposure has been split out, and shareholders have been allocated shares in SEB Eastern Europe Small and Mid Cap Fund 2 (ISIN: LU2562522529). The demerger ratio was 1:1. This fund will be closed until new information is available and the annual management fee is therefore set at 0%.

At the same time, the demerger fund has made a payment.

What does this mean for shareholders?

There is no need for shareholders to take any action in this regard.

The funds managed by SEB Asset Management have already made the changes and the payment.

The partial payment from SEB has been paid out to the bank account in the DNB share savings account. If a holding is held outside the DNB Share savings account, it will be received in new shares in the liquidity fund, DNB Liquidity

Additional information from SEB can be found here

DNB Asset Management has decided that from 1 February, annual management fees were reduced to 0.10 % (down from 0.20 %). This means that DNB Klima Index will in the future have the same harmonised price as the other DNB index funds (Ex. DNB GEM Index).

New annual cost in the following two share classes is:

• Share class A = 0.20% (0.10% ongoing cost + 0.10% platform fee)
• Share class B = 0.19 % (0.09 % ongoing cost + 0.10 % platform fee)

(** New prices will be updated in various fund lists within just a short period of time).

We are today informing shareholders that Storebrand Asset Management has decided to liquidate the share fund Delphi Green Trends (NO0010911159).

How the liquidation will take place

There is no need for shareholders to take any action in this regard. The fund was closed to trading on 25 January, and any savings agreements in the fund have now been closed. The fund is in liquidation and the shares in the fund were redeemed before 7 February, and the liquidation settlement is transferred in the middle of February. If shareholders have the fund placed in their DNB equity savings account (ASK ), the amount will be transferred to the ASK bank account. However, if the holdings are outside ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a share savings account (ASK), the liquidation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

Additional information from Storebrand can be found here

DAM proposes to make adjustments in the articles of association to its fixed-income funds so that the funds can use so-called fluctuations in the daily calculation of the value of the funds. Swing pricing is a method that aims to protect the fund’s existing shareholders from run-off effects on extra large subscriptions or redemptions. Swing pricing thus aims to ensure that the costs incurred in the securities transactions that the fund must make due to net customer transactions are paid by the shareholders who have caused them.

The 22 funds covered by this change proposal are as follows:

• DNB Active Rate
• DNB Aktiv Rente (II)
• DNB AM Card Bond
• DNB AM Card Bond 2
• DNB AM Lang Bond
• DNB European Covered Bonds
• DNB FRN
• DNB Global Credit
• DNB Global high grade
• DNB Global Treasury
• DNB High Yield
• DNB Kredittobligasjon
• DNB Likviditet
• DNB Liquidity II
• DNB Likviditet Institusjon
• DNB Liquidity Card
• DNB Low Carbon Credit
• DNB Nordic Investment Grade
• DNB Obligasjon
• DNB Obligasjon 20
• DNB Bond Nordics
• DNB OMF (Covered bonds)

In order for the proposed changes to the above-mentioned interest rate fund to take effect, consent is required from a majority of the fund’s shareholders. DAM therefore calls in to a shareholder meeting where shareholders are invited to vote on the amendments.

Shareholders do not need to do anything, but we recommend that you exercise your voting rights. Information about the proposals for the amendments to the articles of association can be found on this website:

https://www.dnb.no/sparing/fond/svingprising

If you are not able to vote electronically by Wednesday, 14 February, you can send a ballot voting slip by post or attend a meeting at our premises at Dronning Eufemias gate 30, Oslo, Thursday 15 February at 1,600. Registration for this meeting must be sent to us by Friday, 9 February.

The proposed changes could, according to the plan, enter into force on Wednesday, 20 March.

Please contact us by phone on 22 47 40 00 or by email to fond@dnb.no to receive supplementary information, a ballot voting slip or registration for the meeting.

Invesco Pacific Equity A (LU1775963454) is a fund managed by Invesco Investment Management. We’re sending out a letter to the fund’s shareholders to inform them of significant mandate changes that apply from 1 February 2024. New investment strategy, reference index and annual management fees are changed from 1.50 % to 1.40 %. At the same time, the fund changes the name to Invesco Emerging Markets ex-China Equity Fund.

Shareholders do not need to do anything in this regard.

New investment strategy:

«The fund seeks to achieve its goal by primarily investing in equity or equity-related securities in companies with registered offices in an emerging market country (except China), in companies with a registered office in a non-emerging market country (except China), but carries out its activities mainly in the growing market country (except China) or in holding companies with interests that are primarily invested in companies with a main office in the market, in which the market, in the Norwegian market, (in the Norwegian Norwegian, Norwegian, Norwegian, Norwegian, Norwegian, Norwegian, Norwegian, Norwegian, Norwegian.

Further information about the changes can be found here

We are in the process of sending out customer letters to shareholders of the Ashmore Emerging Markets ESG equity fund (LU2095312596). This is a fund managed by Ashmore Investment Management. On 12 January, the share class is closed. The fund will be removed from DNB’s platforms and the shares will be redeemed during week 2.

How the liquidation will take place

There is no need for shareholders to take any action in this regard. The fund is already closed to trading and any savings schemes have been terminated. If shareholders have the fund placed in their DNB Share savings account (ASK ) the amount will be transferred to your ASK bank account. However, if the holdings are outside ASK, the value will be moved to DNB Liquidity A.

If you want to invest in a fund with similar market exposure, which is managed by the same team, you can choose to invest your funds in the Ashmore Emerging Markets equity fund (LU1711912623).

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

The offices of Danske Invest Asset Management AS at Bryggetorget 4, 0250 Oslo, 26 January 2024 at 09:00

The shareholders this applies to are in the following mutual funds that we distribute:

• Danske Invest Horizon Share - NO0010219058
• Danske Invest Norge I – NO0008000577
• Danske Invest Norge II - NO0008000460
• Danske Invest Norge Growth - NO0008000486
• Danske Invest Horizon 80 NO - NO0010621774

Danske Invest wants to change some of the wording in the articles of association for its funds. Information for shareholders regarding the Articles of Association changes can be found on the Danske Invest’s own website. The proposed amendments to the articles of association have been processed and approved by the Board of the Management Company, including a majority of the elected shareholder directors.

Shareholders wishing to attend the shareholder meeting are asked to provide feedback to our fund centre at fond@dnb.no before 25 January 2024 at 12:00.

The current number of shares on the date of this summons is decisive for the individual shareholder’s actual number of votes at the shareholder meeting. The Articles of association amendments will only be implemented if the shareholder’s meeting agrees with the amendments. At least 75% of the proportions represented at the shareholder meeting of the funds must have voted for the Articles of association changes in order for the shareholder meeting to be deemed to have agreed to the changes.

The result of the voting will be published on the Management company’s website www.danskeinvest.no after the shareholder’s meeting is completed.

Information for shareholders in SEB Globalfond (LU0030158231), which is a fund managed by SEB Investment Management AB. They inform that significant changes to the mandate are being made from the end of the year. New management team, investment strategy and reference index. At the same time, the fund changes its name to SEB Global Focus Fund. Shareholders do not need to do anything in this regard.

New investment strategy:

The investment decisions must be based on in-depth (fundamental) analysis to find valued companies with quality aspects such as a strong market position, good finances, a clear focus on sustainability work and a good ability for profitable growth. The fund will have a significantly more focused portfolio than before, i.e. contain fewer companies.

Read more information from SEB

We inform shareholders that the Pareto Investment Fund A (NO0010040496) was merged with Pareto Aksje Norge B (NO0010297898) on 5 December 2023.

How the merger will take effect

There is no need for shareholders to take any action in this regard. The fund was closed to trading on Friday, 1 December 2023. The merger is underway and shareholders will soon see that new holdings will be registered in their mutual fund account.

Any savings schemes will be transferred to the acquiring fund.

Potential tax consequences

Mergers do not entail any tax realisation, but if you choose to redeem, ordinary tax rules apply.

When a personal customer exchanges funds or sells shares, the transaction will trigger a tax realisation where profits are liable for tax and losses will be tax-deductible. If the holdings are in a Share Saving Account (ASK), no exchange or sale will trigger a tax liability. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. Deductions for losses within ASK only take effect when the account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.

Read more about the merger

Shareholder meeting for shareholders in the Norwegian Fund Finance managed by the Norwegian Fund’s Asset Management is held on Thursday 14 December 2023 at 10:00 a.m.

A shareholder meeting will be held in the Landkreditt Høyrente securities funds, Landkreditt Extra, Landkreditt Yield, Landkreditt Norden Yield and Landkreditt Aksje Global on 11.12.23 at 10:00.

The meeting is held at the company’s premises at Karl Johans gate 45 in Oslo.

We inform shareholders in the JPM Emerging Europe Equity II fund (LU2549521172) that the fund will be merged with JPM Middle East, Africa and Emerging Europe Opportunities A (LU2659281708) on 14 December. This is a fund that is not distributed by DNB and therefore the fund will be liquidated and all shares will be redeemed at the end of November.

How the liquidation will take place

There is no need for shareholders to take any action in this regard. The fund is already closed to trading and any savings schemes have been terminated. If the shareholder has the fund placed in a DNB Share savings account (ASK ), the amount will be transferred to the ASK bank account. However, if shareholders have the holdings outside of ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

The share manager Templeton Eastern Europe A RC (LU2525718768) is wound up. Shareholders have received shares in connection with a previous demerger of the equity fund Templeton Eastern Europe A. The fund is managed by Templeton, which informs that the share class pays a liquidation settlement.

What does this mean for shareholders?

There is no need for shareholders to take any action in this regard. It is expected that after the payment in mid-November, the holdings in this share class will be liquidated and the share class will therefore be liquidated here at DNB. Any future repayments in this share class will be transferred automatically by shareholders. If you have the fund placed in a DNB Share savings account (ASK ), the amount will be transferred to the ASK bank account. However, if shareholders have a holding outside of ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

Nordea Øst-Europa (FI0008813258) has been closed to trading since February 2022. This is a fund managed by Nordea Investment Funds. On September 29, the fund merged with the equity fund, Nordea Emerging Europe Fund. This is a fund that DNB does not distribute and therefore shares are redeemed in the middle of November. Any future outstanding payments will be paid to the fund’s shareholders.

Why does Nordea withdraw from the fund?

Russia’s invasion of Ukraine in the end of February 2022 contributed to a serious and exceptional market disruption in the securities market in Russia. Market disruptions are due to massive sanctions against Russia that exclude Russian companies from the global financial market. In addition, foreign investors are affected by Russia’s counter-sanctions. Therefore, the Norwegian actuarial committee for Nordea Øst-Europa cannot operate as normal.

How the liquidation will take place

There is no need for shareholders to take any action in this regard. The fund is already closed to trading and any savings schemes have been terminated. If you have the fund placed in a DNB Share savings account (ASK ), the amount will be transferred to the ASK bank account. However, if you have holdings outside of ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

Further information from Nordea can be found here

We have made name changes to the following equity funds from Holberg Fondsfinans. Valid from 6 November 2023.

• Holberg Global D changes to Holberg Global N
• Holberg Norden B is changed to Holberg Norden N
• Holberg Norge B is changed to Holberg Norge N
• Holberg Triton B is changed to Holberg Triton N
• Fondsfinans Norden changes to Fondsfinans Norden A
• Fund financial position Dividends are changed to Fund financial position Dividend A

We are distributing four Danske Invest SICAV equity funds that will exchange depository banks and fund managers in Luxembourg. The exchange is conducted on 24 November 2023 and will not affect shareholders beyond the fact that the trade will be suspended for up to four working days in November. Trades are stopped in the period from 21 to 27 November, and are executed as soon as the trade is reopened, highly likely from 28 November.

This applies to these four funds:

• Danske Invest China A (LU0178668348)
• Danske Invest Glbl Em Mkts Small Cap A (LU0292126785)
• Danske Invest Global Emerging Markets A (LU0085580271)
• Danske Invest Global Sustain Future A (LU0117088970)

Additional information can be found here

We hereby inform you that the East Capital Eastern Europe A1 fund (ISIN: LU2437453066) is re-opened for trading. New official fund price on 28.9.2023 is calculated at SEK 15.39. As previously stated, the fund has been closed to trading since 28.2.2022 due to Russia’s invasion of Ukraine. There is no need for shareholders to take any action in this regard.

East Capital has completed a demerger of the fund, which means that the fund's share with Russian exposure («individual companies») is separated into a new limited share class, East Capital Eastern Europe A1Q SEK (ISIN: LU2691060185). The demerger ratio is 1:1 and you have been allocated an equal number of shares in the new share class. East capital has stated that the fund price is calculated at SEK 0.71 and the annual management fee is 0%. The share class will be closed until new information is available.

Additional information from East Capital can be found here

We distribute the following Swedish registered interest rate fund from Alfred Berg (SE ISIN):

• Alfred Berg Nordic High Yield (change valid from 20 October)
• Alfred Berg Income (change valid from 17 November)
• Alfred Berg Nordic Investment Grade (change valid from 17 November)

This will affect Alfred Berg’s method for fluctuation pricing

With this, Alfred Berg will get the NAV calculation to only one system, instead of two. Swing pricing will therefore be calculated as part of the fund price after the transition. For Alfred Berg Nordic High Yield ACC, the first NAV (Fund Price) was calculated by Alfred Berg for 20 October 2023.

The fund was closed down on 20 March 2022. We have now received NOK 59,269, 72 as a dividend that we allocate to shareholders who owned shares at the time of liquidation. Shareholders do not need to take any action.

What is the payment process like?

If the shareholding is larger than NOK 100 and the shareholder has a holding in one or another fund with us, the shareholding is awarded in the form of new shares in DNB Liquidity A.

If the shareholder no longer has a holding with us, we will make a withdrawal to the bank account.

If the dividend is less than NOK 100, there will be no allocation or payment to shareholders.

The share manager KLP AksjeNorge changes its name to KLP AksjeNorge Aktiv on 10 October 2023.

KLP changes the name of the fund to make the difference to their Norwegian index-based equity fund KLP AksjeNorge Indeks clearer.

The Financial Supervisory Authority has approved the amendment.

From 18 October 2023, holdings in mutual funds from Storebrand and Delphi will exchange share classes. Shareholders will still be invested in the same fund, but in a new share category. The change does not lead to any increase in fund costs. The change is made automatically and savings agreements until the funds continue as before. There is no need for shareholders to take any action in this regard.

Background

Storebrand Asset Management AS now requires that DNB, as the distributor, shall only offer net share classes.

New share class

In the new share class, the fund cost is split into two payments. The cost consists of management fees for the manager of the fund, and platform fees for the distributor who offers the fund in their solutions. As a distributor, DNB will charge platform fees quarterly from the bank account. Customers under the age of 18 will not be charged a platform fee and will therefore have a lower fund cost as a result of a new share class.

The fund will get a new name, new ISIN, different number of shares and a new fund price. Shareholders will have similar market exposure, risk profile and market value.

The replacement process

The price date for a change of share class is 18 October 2023, but we would like to point out that it will no longer be possible to trade in the existing share class from Friday 13 October. New subscriptions to this fund must be carried out in the new net share class.

Changes in share class do not entail any tax realisation, and you will not be out of the market during the exchange period. If shareholders do not want a new share class, they can either exchange mutual funds or sell their shares. Remember that a change of fund and sale of shares can have tax consequences.

We are informing shareholders in Handelsbanken China Tema (ISIN SE0005933017) about significant legal changes that apply from 1 November. There is no need for shareholders to take any action in this regard. The changes do not affect the fund’s risk level and will not lead to any costs for shareholders either.

The fund changes its name to Handelsbanken Asia SMB

• The region is expanding to the entire Asia as a market
• Change of investment mandate to small and medium-sized companies

The change means that you get an investment with greater geographic spread and reduced exposure to the Chinese market. The distribution of the fund’s investments will vary over time and will be determined by the management team’s market outlook and company analyses. The fund will invest in share and equity-related instruments issued by small and medium-sized companies in Asia. The fund may also invest in securities issued by companies outside the region if the company has at least 50 per cent of its business or market in Asia. The purpose of the change is to create better conditions for the fund’s development through the opportunity to invest in more countries in the region.

Read more about the change at Handelsbanken

Morgan Stanley INVF Platinum American Aeq A (LU0073231317) is wound down. This is a fund managed by Morgan Stanley Investment Funds. On October 27, the fund will be merged with Morgan Stanley Emerging Leaders Equity fund. This is a fund that is not distributed by DNB, and therefore the fund will be liquidated and shares will be redeemed in the middle of September.

How the liquidation will take place

The customers do not need to do anything in this regard. The fund is already closed to trading and any savings schemes have been terminated. If the fund is placed in a DNB Share Savings Account (ASK), the amount will be transferred to the ASK bank account. However, if the holdings are outside ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

Additional information from Morgan Stanley can be found here:

Morganstanley.com

Applies to all our funds registered in Luxembourg under the umbrella DNB fund.

DNB, is pleased to announce that «FundPartner Solutions (Europe) S.A. (FPSESA)» will become the new management company for the «DNB Fund» with an effective date of 1 October 2023. FPSESA is an entity in the Pictet Group.

This initiative is a continuation of the move announced on 12 October 2022, where we switched to FPSESA as our new fund administrator and transfer agent for the "DNB Fund" with effect from 18 November 2022.

We see the changes in November last year and the upcoming move on 1 October 2023 as a combined opportunity to collaborate with a solid supplier with tailored services, sufficient for our range of sub-funds under the umbrella «DNB Fund».

In this document you will find the legal information about the transfer and corresponding changes.

Sissener AS has decided to create a separate main fund and move (merge) the sub-fund to the new main fund, which is called Sissener SICAV. The change applies from 31 July 2023.

For shareholders, everything remains as before, and there is no need to do anything as a result of the merger.

The investment mandate and strategy, risk in the fund, share classes, ISIN and costs in both funds will not change as a result of the change.

In connection with the merger, the fund had to be closed for subscriptions/redemptions for five days in the period 21-28 July.

The new fund name is Sissener Sicav Canopus R

Read more about Sissener

As of today, we are informing unit holders that this fund will be liquidated. This is a fund managed by SEB Invesment Management. They have decided that the fund will be merged with SEB Nordenfond C (SE0020053353) on 12 June. This is unfortunately a fund we do not distribute and the shares are therefore redeemed in the end of May/June.

How the liquidation will take place

There is no need for shareholders to take any action in this regard. The fund is already closed to trading and any savings schemes have been terminated. If the shares are placed in a DNB Share Savings Account (ASK), the amount will be transferred to the ASK bank account. However, if the holdings are outside ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

The mutual fund mainly invests in emerging countries in Latin America, Asia, Eastern Europe, Africa and the Middle East, but the fund can also invest in other equity markets, in companies that have most of their business activities in emerging countries. Investments in these equity markets can also be made indirectly through depository certificates, listed on the stock exchange or a regulated market.

• ISIN: LU2238280866
• Management fee: 0.85%
• Platform fee 0.30%

The fund is managed by DNB Asset Management

We are informing customers who own shares in these selected funds that we are starting a liquidation process. DNB wants to offer all customers a broad and competitive range of funds within different geographical areas, industries and sectors. The selection is evaluated annually based on customer feedback and demand. We have now conducted an annual review of the mutual funds which are distributed by DNB, and some of these funds will no longer be available on our trading platforms due to the low demand from our customers.

What should unit holders do?

As of 16 May 2023, the funds will no longer be available for trading on DNB’s trading platforms. We therefore request that unit holders either redeem their shares in the above-mentioned funds or carry out a fund exchange to another fund that we offer. If the unit holders do not act before 16 May, all shares in these funds will be automatically redeemed by us as soon as possible from the price date of 23 May 2023. Final redemption amounts will be transferred to the bank account in the DNB Share savings account. If unit holders have shares outside of the DNB Share savings account, the shares will be reinvested to DNB Liquidity A. We would like to point out that regular savings schemes in these funds will also be closed. If unit holders want a new savings scheme, it must be re-established in the fund you choose.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

The following mutual funds will no longer be available for trading on DNB’s trading platforms, and will be liquidated by us:

• Danske Invest USA - ISIN DK0060517076
• Danske Invest Horisont 100 - ISIN DK006057591
• Danske Invest Europa Small Cap KL NOK - ISIN DK 0060587285
• Danske Invest Horisont 80 - ISIN DK0060657328
• Norron Active R - ISIN LU0619829491
• Schroder ISF US Small and Midcap Eq - ISIN LU0205193047
• Schroder ISF EU Value - ISIN LU0161305163
• Vontobel Global Eq B - ISIN LU0218910536
• Odin Aksje B - ISIN NO0010732878
• Abrdn Emerging Markets Eq A - ISIN LU0132412106
• SEB Prime Solutions APS Global Equity - ISIN LU1048479510
• Templeton Emerging Markets - ISIN LU0188151921
• Franklin Mutual Global Discovery A - ISIN LU0211331839
• Schroder ISF US Smaller Comp A Inc - ISIN LU0012050646
• Franklin mutual Beacon A - ISIN LU0070302665

As of today, we are informing unit holders that this fund will be liquidated. This is a fund managed by FCG Fonder AB (NorQuant Kapitalforvaltning AS). They have decided that the fund should be merged with NorQuant Multi Asset (SE0014957916) on 8 May. Unfortunately, this is not a fund we distribute and the shares were therefore redeemed at the end of April.

How the liquidation will take place

There is no need for shareholders to take any action in this regard. The fund is already closed to trading and any savings schemes have been terminated. If the shares are placed in a DNB Share Savings Account (ASK), the amount will be transferred to the ASK bank account. However, if the holdings are outside ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

More information from FCG fonder AB

We hereby inform shareholders that the equity fund SEB Legemiddel (LU0047324214), which is managed by SEB Investment Management, is being liquidated.

On 21 April, the fund will be merged with SEB Bioteknikfond (LU2553409058). This is a fund that DNB does not distribute and therefore the fund will be liquidated and the shares redeemed at the beginning of April.

How the liquidation will take place

There is no need for shareholders to take any action in this regard. The fund is already closed to trading and any savings schemes have been terminated. If shareholders have a position in the mutual fund in a DNB Share Savings Account (ASK), the amount will be transferred to the ASK bank account. However, if shareholders have the holdings outside of ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

The fund managed by Swedbank Robur Fonder AB has been closed to trading since February 2022 due to the Russian invasion of the Ukraine.

We hereby inform shareholders that their fund will be split into two mutual funds, an Eastern European Fund and an Emerging Europe fund, on 27 April 2023. The liquid part of the holding will be included in the Emerging Europe Fund, while the liquid holding with Russian exposure will be included in the Eastern European Fund.

What does this mean for shareholders?

There is no need for shareholders to take any action in this regard. It is expected that almost all holdings in the Robur Eastern European Fund will be moved to the Emerging Europe fund. Unfortunately, DNB does not distribute the acquiring fund and the shares for the shareholders will thus be redeemed at the beginning of April. Should the Eastern European Fund become liquid at some point in the future, shareholders will receive a payment in arrears from DNB.

If shareholders have a position in the mutual fund in their DNB Share Savings Account (ASK), the amount will be transferred to the ASK bank account. However, if shareholders have the holdings outside of ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

Our own fund provider (DAM), has changed the calculation basis for ongoing charge for the index funds. They have implemented this in the absence of clear industry practice, and, among other things, tax is not included in the calculation. Ongoing charges are therefore reduced by approx. 0.02%. This change makes it easier to compare the cost figure with other funds from other producers.

The mutual fund industry is awaiting joint clarification on which cost elements are required when the PRIPPS regulation is introduced in Norway.

It is emphasised that despite the new calculation of ongoing charges, all costs are already charged in both the mutual fund’s price and return. The mutual fund’s key investor information documents (KIIDs) and prospectuses have been updated and are shown in our mutual fund lists.

• DNB Spare 100: Current cost: old: 0.27%, new: 0.25%. Annual cost(including platform fees): 0.35 %
• DNB Spare 30: Current cost: old: 0.27%, new: 0.25%. Annual cost (including platform fees): 0.35 %
• DNB Spare 50: Current cost: old: 0.27%, new: 0.25%. Annual cost (including platform fees): 0.35 %
• DNB Spare 80: Current cost: old: 0.27%, new: 0.25%. Annual cost (including platform fees): 0.35 %
• DNB Barnefond A: Current cost: old: 0.12 %, new: 0.10 %. Annual cost (including platform fees): 0.20 %
• DNB Europa Indeks A: Current cost: old: 0.12 %, new: 0.10 %. Annual cost (including platform fees): 0.20 %
• DNB Global Emerging Markets Indeks A: Current cost: old: 0.22 %, new: 0.20%. Annual cost (including platform fees): 0.30 %
• DNB Global Indeks A: Current cost: old: 0.12 %, new: 0.10 %. Annual cost (including platform fees): 0.20 %
• DNB Global Industrisektor Indeks A: Current cost: old: 0.12 %, new: 0.10 %. Annual cost (including platform fees): 0.20 %
• DNB Global Materialsektor Indeks A: Current cost: old: 0.12 %, new: 0.10 %. Annual cost (including platform fees): 0.20 %
• DNB Climate Index A: Current cost: old: 0.14%, new: 0.12%. Annual cost (including platform fees): 0.22%
• DNB Norge Indeks A: Current cost: old: 0.12 %, new: 0.10 %. Annual cost (including platform fees): 0.20 %
• DNB Norden Indeks A: Current cost: old: 0.12 %, new: 0.10 %. Annual cost (including platform fees): 0.20 %
• DNB USA Indeks A: Current cost: old: 0.12 %, new: 0.10 %. Annual cost (including platform fees): 0.20 %

The change comes into effect from 1 March 2023.

Investment profile

DNB Barnefond is an index-linked equity fund where 80 per cent is normally invested in shares listed on the Nordic markets, and the remaining proportion is invested in international shares through ownership interests in the mutual fund DNB Klima Indeks (Climate Index). DNB Barnefond does not invest in companies with direct exposure to fossil fuels or companies with a high degree of greenhouse gas emissions. The mutual fund has additional criteria beyond DNB’s guidelines for responsible investments and does not invest in companies in conventional weapons, commercial gambling or the production of alcohol.

The management fee is lowered from 0.20% to 0.10%

The Nordic index-based management is carried out

The global share of 20% currently invested in DNB Global Lavkarbon (Low Carbon) is replaced by DNB Klima Indeks (Climate Index).

Read more about DNB Barnefond

As previously stated, the fund has been closed to trading since 28 February 2022 due to the Russian invasion of Ukraine. The mutual fund has been split in two in order to distinguish between the Russian exposure that will still be closed to trading and liquid assets. Customers do not need to do anything about this.

How is the split implemented?

Existing mutual funds (share class), are now split into a new share class with a 1:1 exchange ratio. This means that the customer gets an equal number of shares in both share classes.

In practice, the liquid securities will be moved to a new share class that takes the name of JPM Emerging Europa Eq II A (ISIN: LU2549521172), and it is this share class that is opened for trading from 17 February 2023. The fund’s Russian exposure will remain in place and remain closed to trading until the Russian market is re-opened to trading.

The mutual fund prices for both share classes will not be published until the split date of 17 February 2023.

Additional information can be found on JP Morgan’s website: Read more on JP Morgan

Storebrand is splitting the fund price in Storebrand Norge A (ISIN: NO0008000783) by a factor of 1000 on 10 February 2023.

The fund will still be open to trading during this period.

Shareholders do not need to do anything, but they will be assigned a new set of shares and there will be a new fund price. The market value remains unchanged.

In consultation with Handelsbanken, we are opening up the chance for our customers to redeem shares in Handelsbanken EMEA Tema A1 NOK (ISIN: SE0006800090). As previously stated, the fund has been closed to trading since 28 February 2022 due to the Russian invasion of Ukraine.

The fund still has a small proportion of Russian exposure and therefore we are not opening up the fund to subscriptions.

Market information – Handelsbanken

The fund with its associated share classes has changed its name to DNB Grønt Byte Norden (Green Shift Nordic). Mutual funds with a sustainability profile

DNB Grønt Skifte Norden (Green Shift Nordic) is an actively managed equity fund that invests in companies with low greenhouse gas emissions and companies that are working on solutions for different climate and environmental challenges. The fund is managed by Øyvind Fjell.

From 12 December 2022, swing pricing in the form of a fee for purchases and sales of 25bps will be revoked. There will still be swing pricing in the fund, but only for large net purchases or sales. Swing pricing continues to go to the fund and not to the company.

S-Bank Frontier Markets Equity B (FI4000066725) is a mutual fund managed by S-Bank Fund Management Ltd (previously FIM), which has decided that the fund will no longer be sold and marketed in Norway. The fund will therefore be removed from DNB’s mutual fund committee and the shares will be redeemed.

How the liquidation will take place

There is no need for shareholders to take any action in this regard. The fund is already closed to trading and any savings schemes have been terminated. The shares in the fund have been redeemed at a price date of 9 December. If the customer has the fund placed in a DNB Share savings account (ASK), the amount will be transferred to an ASK bank account. However, if the holdings are outside ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

The marketing of S-Bank Fund Management Company Ltd’s funds is ending in Norway and Estonia

We inform shareholders that the Templeton Eastern Europe A fund (ISIN: LU0078277505) is re-opened for trading from 11.11.2022. New official fund price is calculated at EUR 9.08. As previously stated, the fund has been closed to trading since 28 February 2022 due to the Russian invasion of Ukraine.

Templeton has carried out a demerger of the mutual fund, which means that the proportion of the fund’s Russian exposure (illiquid companies) have been separated into a new limited share class, Templeton Eastern Europe “A RC” (EUR) Acc (ISIN: LU2525718768). The demerger ratio is 1:1 and shareholders have been allocated an equal number of shares in the new share class. The fund price on 11.11.2022 is EUR 0.01. The annual management fee is 0%. The share class will be closed until new information is available.

Additional information

We inform shareholders that on 30 November 2022, all shares they own in share class H (LU1303884347) will be automatically moved to share class H-II (LU1303886391). Moving shares is between an ordinary gross share class to a net share class. The management of the fund remains unchanged, but the move means that unit holders will benefit more from it as the total price will be slightly lower.

Share class H-II is a so-called net share class, where the price is divided in two. Some go to the mutual fund’s Portfolio Manager (management fees) and some to us as distributors of the fund (platform fees). In the net share class, the annual management fee is reduced from 2.08% to 1.73%. The new price including platform fee (0.20%) will be 1.93%. The platform fee is charged to the quarterly unit holder’s bank account. Savings contracts are continued in the acquiring share class H-II.

Potential tax consequences

This move between two share classes in the same mutual fund does not involve any tax realisation.

However, if you no longer wish to be a unit holder in share class H-II, shareholders can redeem them under the applicable trading rules for this fund. On redemption of shares, this transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible.

Read more about the change at Responsibility

We are informing shareholders that the Nordea 1 – North American Small Cap Fund (LU0826404872) will be merged with Nordea 1 – Global Small Cap Fund on 9 December 2022. The acquiring fund is not distributed by DNB, and Nordea 1 – North American Small Cap Fund will therefore be liquidated with us.

How the liquidation will take place

Nordea 1 – North American Small Cap Fund will be closed for subscription and redemption on 28 November, and any savings schemes in the fund have been terminated. The shares in the fund are automatically redeemed with a price date of 30 November. If the fund is placed in a DNB Share Savings Account (ASK), the amount will be transferred to the ASK bank account. However, if the holdings are outside ASK, the value will be moved to DNB Liquidity A.

Potential tax consequences

This transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are in a Share Saving Account (ASK), the realisation will not trigger the tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

Additional information can be found on Nordea’s website: nordea.lu

Nordea Russland (Russia) (FI4000020748) and Nordea Øst Europa (Eastern Europe) (FI0008813258) have been closed to trading due to the Russian invasion of the Ukraine since 28 February 2022. We can now inform shareholders of two significant changes.

Nordea Russland (Russia) is being liquidated

Nordea has decided to wind up Nordea Russland (Russia) with a redemption date of 31.8.2022. There is no need for shareholders to take any action in this regard. The shares have already been redeemed, and the liquidation settlement has transferred to the shareholder’s bank account to the DNB Share savings account.

The liquidation price of the fund is calculated at NOK 3.427110 which means that the fund has had a negative return of 97% since 28 February. Due to the unclear market situation and sanctions introduced in Russia, it may take a long time before all remaining investments in the fund are liquidated. Nordea therefore advises of the possibility of gradual future redemptions.

Additional information from Nordea Funds Ab, Swedish branch, can be found here:

https://www.maxm.se/newsroom/wp-content/uploads/2022/06/Kundbrev-1.pdf

Nordea Øst-Europa (Eastern Europe) open to redemption of mutual fund shares

Nordea advises that the fund is again open for redemption. Customers will receive an information letter from DNB. Shareholders who wish to redeem their shares must use manual redemption forms which must be sent to fond@dnb.no.

The fund will still be closed to subscriptions.

SE0006789673 - Handelsbanken Latin-Amerika Tema becomes an impact fund and is changing its name to Handelsbanken Latin-Amerika Impact Tema. In addition to the fund’s fundamental guidelines for responsible investments, the investment focus on becoming an impact fund is explicitly connected to the UN’s global sustainability goals.

LU0413544379 - Fidelity fund Japan Advantage is changing its name to Japan Value Fund.

We hereby inform shareholders that the equity fund Norse Trend Europa (NO0010699598) has been merged with Norse Trend Global (NO0010545908) with effect from 16 June 2022.

The funds are managed by Norse Forvaltning AS.

The merger has already been completed and shareholders do not need to do anything in this regard. Unit holders have been assigned shares in the acquiring fund based on the calculated exchange, which states that a share in Norse Trend Europa gives 0.1856 shares in Norse Trend Global.

Any savings schemes are transferred to the acquiring fund.

Mergers do not cause any tax to be realised.

Additional information can be found on Norse Forvaltning AS’s website: Implemented merger between the funds Trend USA, Trend Europa and Trend Global

DNB Asset Management has hired Eivind Aukrust as manager for index-linked strategies. Aukrust’s previous position was portfolio manager at the Government Pension Fund of Norway.

Aukrust studied at the University of California, Berkeley and the Norwegian University of Science and Technology and has a Master’s degree in financial mathematics and statistics.

The reason for the change in benchmark index is that the previous indices only had state (not credit).

Nordic Bond Pricing, an independent index supplier, has now started producing indices that are more relevant to our liquidity funds. Note that the adjustment will not have any consequences for the actual management of the mutual funds.

The following DNB funds have a new index:

• DNB Aktiv Rente - New index: NPB Norwegian RM123 Floating Rate Index NOK
• DNB Aktiv Rente (II) C - New index: NPB Norwegian RM123 Floating Rate Index NOK
• DNB Aktiv Rente (II) N - New index: NPB Norwegian RM123 Floating Rate Index NOK
• DNB Likviditet 20 C - New index: NBP Liquidity Low Risk Index NOK
• DNB Likviditet 20 D - New index: NBP Liquidity Low Risk Index NOK
• DNB Likviditet 20 E - New index: NBP Liquidity Low Risk Index NOK
• DNB Likviditet 20 N - New index: NBP Liquidity Low Risk Index NOK
• DNB Likviditet A - New index: NBP Liquidity Standard Index NOK
• DNB Likviditet D - New index: NBP Liquidity Standard Index NOK
• DNB Likviditet II C - New index: NBP Liquidity Standard Index NOK
• DNB Likviditet N - New index: NBP Liquidity Standard Index NOK
• DNB Likviditet Institusjon - New index: NBP Liquidity Standard Index NOK
• DNB AM Kort Obligasjon - New index: NBP Liquidity Low Risk Index NOK
• DNB AM Kort Obligasjon 2 - New index: NBP Liquidity Low Risk Index NOK
• DNB AM Likviditet - New index: NBP Liquidity Low Risk Index NOK

The fund was liquidated on 18 March 2022.

We have received an outstanding residual amount from the manufacturer for the settlement of liquid assets in the portfolio. This is a residual amount that accrues to the shareholders who owned shares at the time of liquidation.

For the shareholders who had the holding in a DNB Share savings account, the amount will be credited to their ASK bank account. For any holdings outside of ASK, customers will be allocated new shares in the money market fund, DNB Liquidity A.

The settlement will be transferred over the course of a short period.

We hereby inform you that Alfred Berg Kapitalforvaltning AS has recently made changes to Alfred Berg Nordic High Yield (ISIN SE0013877461) from being a feeder fund to being a directly invested fund, while the swing pricing method has also changed, at subscription and redemption, by 0.25 per cent.

Significance to shareholders

In previous fund-in-fund structures, swing pricing was incorporated into the mutual fund price, but after being converted to a Swedish direct-investing master fund, the transaction costs in swing pricing are separated as a separate cost component and are not included in the fund price. This cost for customers goes to the mutual fund and not to the management company or distributor. Swing pricing is used to prevent diluting existing shareholdings for large subscriptions or redemptions in the fund.

Swing pricing is the scheme that most management companies already use, both in Norway and Europe generally, precisely to avoid the existing unit holders suffering losses

More information from Alfred Berg Kapitalforvaltning AS

Key Information Document

The changes for KLP mutual funds will take place automatically and this will not affect how the fund is managed. The annual management fee for the funds remains unchanged. The changes will apply from 25 April 2022.

Introduction of share classes

The change means that changes will be made to the name of mutual funds with a letter code after the fund’s name, to show which share class customers hold. KLP will use the following letter codes:

• P - share class for subscriptions of less than NOK 10 million

• S - share class for subscriptions of at least NOK 10 million

How the merger will take effect

As share classes are introduced, some mutual funds will be merged. This will simplify the fund structure and streamline the management and administration of the funds. This applies to mutual funds with the same investment mandates, but with different thresholds for minimum subscription and management fees.

After the merger, the unit holders will be divided by share class based on which funds they were invested in before the merger.

Affected funds:

KLP Aksje Fremvoksende Marked Indeks I will now be called: KLP AksjeFremvoksende Markeder Indeks S

KLP Aksje Fremvoksende (Share Emerging)Market Index II will now be called: KLP AksjeFremvoksende Markeder Indeks P

KLP Aksje Verden Indeks will now be called: KLP AksjeVerden Indeks P

KLP AksjeAsia Indeks III will now be called: KLP AksjeAsia Indeks P

KLP AksjeAsia Indeks IV will now be called: KLP AksjeAsia Indeks Valutasikret P

KLP AksjeEuropa Indeks III will now be called: KLP AksjeEuropa Indeks P

KLP AksjeEuropa Indeks IV will now be called: KLP AksjeEuropa Indeks Valutasikret P

KLP AksjeGlobal Indeks I will now be called: KLP AksjeGlobal Indeks S

KLP AksjeGlobal Indeks III will now be called: KLP AksjeGlobal Indeks Valutasikret S-1

KLP AksjeGlobal Indeks II will now be called: KLP AksjeGlobal Indeks Valutasikret S

KLP AksjeGlobal Indeks IV will now be called: KLP AksjeGlobal Indeks Valutasikret P

KLP AksjeGlobal Indeks V will now be called: KLP AksjeGlobal Indeks P

KLP AksjeGlobal Flerfaktor II will now be called: KLP AksjeGlobal Flerfaktor Valutasikret P

KLP AksjeGlobal Flerfaktor I will now be called: KLP AksjeGlobal Flerfaktor P

KLP AksjeNorden Indeks will now be called: KLP AkjseNorden Indeks P

KLP AksjeNorge will now be called: KLP AksjeNorge P

KLP AksjeNorge Indeks will now be called: KLP AksjeNorge Indeks S

KLP AksjeNorge Indeks II will now be called: KLP AksjeNorge Indeks P

KLP AksjeUSA Indeks III will now be called: KLP AksjeUSA Indeks P

KLP AksjeUSA Indeks IV will now be called: KLP AksjeUSA Indeks Valutasikret P

KLP Framtid will now be called: KLP Framtid P

KLP Aksjeglobal Small Cap Index II will now be called: KLP AksjeGlobal Small Cap Indeks P

KLP AksjeGlobal Mer Samfunnsansvar will now be called: KLP AksjeGlobal Mer Samfunnsansvar P

KLP AksjeGlobal Small Cap Flerfaktor (Share Global Small Cap Multi-factor)will now be called: KLP AksjeGlobal Small Cap Flerfaktor P

KLP Aksje Fremvoksende Markeder Flerfakt will now be called: KLP Aksje Fremvoksende Markeder Flerfaktor P

KLP Aksjeglobal Mer Samfunnsansvar II will now be called: KLP Aksjeglobal Mer Samfunnsansvar Valutasikret P

KLP AksjeNorden Mer Samfunnsansvar will now be called: KLP AksjeNorden Mer Samfunnsansvar P

KLP AksjeFremvoksende Markeder Mer Samfunnsansvar will now be called: KLP AksjeFremvoksende Markeder Mer Samfunnsansvar P

Detailed information can be found on KLP’s website

Summons to unit holder meetings regarding share class merger

We hereby inform you that four equity funds from the management company East Capital were merged on 1 April 2022. The purpose of this is to simplify East Capital’s product offering.

The changes apply to the following funds:

East Capital Balkan (SE0001244328) has become East Capital Balkans A1 (LU1941809938)

East Capital Nya Europa (SE0000777724) has become East Capital New EuropeA1 (LU2437452928)

East Capital Ryssland (SE0000777708) has become East Capital Russia A1 (LU2437452845)

East Capital Österuropa (SE0000888208) has become East Capital Eastern Europe A1 (LU2437453066)

How the merger will take effect

You do not need to do anything about this. The funds are replaced at a 1:1 ratio, which just means that the funds get new fund names and ISIN numbers. The change applied from 1 April 2022. Both the mutual fund price in Swedish kroner (SEK) and the number of shares in the acquiring fund will continue.

Any savings schemes will be transferred to the acquiring fund.

Potential tax consequences

Mergers do not result in any tax realisation, but if you choose to trade, normal tax rules apply.

When a personal customer exchanges funds or sells shares, the transaction will trigger a tax realisation where profits are liable for tax and losses will be tax-deductible. If the holdings are in a Share Saving Account (ASK), no exchange or sale will trigger a tax liability. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. Deductions for losses within ASK only take effect when the account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.

Read more about the merger at East Capital

On 31 March 2022 it will again be possible to sell mutual fund shares in Swedbank Robur Osteuropafond (Eastern European Fund) (ISIN SE0000539421). The funds have been closed for trading since 28 February 2022. The fund will no longer be distributed through DNB, therefore the fund will still be closed for purchases.

Please note that orders placed before 28 February have been deleted. Customers should already have been informed of this. This means that customers who wish to redeem shares must register redemption orders again.

On 28 March 2022 it will again be possible to sell shares in the SEB Eastern Europe Fund (ISIN LU0086828794). The funds have been closed for trading since 28 February 2022. The fund will no longer be distributed through DNB, therefore the fund will still be closed for purchases.

Please note that orders placed before 28 February have been deleted. This means that if you want to redeem shares, you must register a redemption order again.

With the switch to a new custodian bank, all mutual funds from Danske Invest that are listed in Denmark will be closed to trading around Easter 2022. Applies to the following mutual funds:

Danske Invest Europa Small Cap KL NOK - DK0060587285

Danske Invest Horisont 100 - DK0060657591

Danske Invest Horisont 80 - DK0060657328

Danske Invest USA - DK0060517076

When Danske Invest in Denmark switches custodian bank from Danske Bank to J.P. Morgan, for practical reasons it will be necessary to close the Danish mutual funds from Danske Invest to trading around Easter 2022. This means that all of the funds will be closed to trading between the 8th April at 12:00 to 19 April at 12:00 p.m.

When a mutual fund is closed to trading, it means in practice that no one can buy or sell shares in the fund in question.

The closed days are used to protect the investor. In connection with the change of depository bank, for a period, it will not be possible for the managers to make trades in investments and cash before they are transferred to a new depository bank. Trading is closed to ensure that the investor does not trade at misleading prices.

It is expected that the change of depository bank will be carried out between the 8th April at 12:00 to 19 April at 12:00 p.m. If there are any changes to this, it will be communicated at www.danskeinvest.no.

The following three equity funds are reducing their annual management fees:

Landkreditt Aksje Global:
Old management fee: 1.25
New management fee 1.10.

Landkreditt Utbytte (Yield) A:
Old management fee: 1.50
New management fee: 1.30

Landkreditt Norden Utbytte (Yield) A:
Old management fee: 1.50
New management fee: 1.30

Invesco Management S.A has decided that equity fund Invesco Developing Markets SRI Equity Fund C (LU2021462366) will be liquidated on 18 March 2022.

How the liquidation will take place

The mutual fund was closed to trading on 9 March and the annual management fee changed to 0 per cent.

You do not need to do anything about this. Your shares will be automatically redeemed, and the final redemption amount will be transferred at the end of March to the bank account that you have in the DNB share savings account. If you have shares outside the DNB Share savings account, the shares will be reinvested in DNB Liquidity A.

We draw particular attention to the fact that any ongoing savings schemes have been cancelled.

Potential tax consequences

When a personal customer exchanges funds or sells shares, the transaction will trigger a tax realisation where profits are liable for tax and losses will be tax-deductible. If the holdings are in a Share Saving Account (ASK), no exchange or sale will trigger a tax liability. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. Deductions for losses within ASK only take effect when the ASK account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.

Additional information from Invesco Management S.A. can be found here

DNB has decided to stop the distribution of funds with significant Russia exposure with immediate effect. This applies to a total of 14 external, foreign funds which until today have been available in DNB’s purchasing solutions.

This means that you can no longer buy shares in the affected mutual funds through DNB, either as one-off purchases or via a savings scheme.

Russia, in its invasion of Ukraine, has broken two fundamental standards in the UN pact on state’s right to self-government. The sovereignty standard and the prohibition on wars of aggression. Abuse of the civilian population caused by the invasion constitutes an unacceptable and serious threat in Ukraine, where fundamental human rights are being disregarded.

Western sanctions and Russian counter-sanctions on Russia’s invasion of the Ukraine means that it is currently impossible to buy and sell securities in Russia. The Moscow stock exchange is closed and the central bank in Russia has introduced capital controls, which makes it difficult to exchange between Russian rubles and Western currency.

Due to the unclear situation, producers of these funds have also temporarily stopped the possibility of redeeming shares. In the long term, DNB will assist customers who want to sell shares in the affected funds, but as the situation is now, this is not possible.

This affects the following mutual funds:

• BGF Emerging Europe
• BNP Paribas Russia
• East Capital Russland
• East Capital Østeuropa
• JPM Emerging Europe Equity
• JPM Russia
• Nordea Russland
• Nordea Øst-Europa
• SEB Eastern Europe Small Cap
• Swedbank Robur Östeuropafond
• Templeton Eastern Europe
• Morgan Stanley Emerging Markets deb
• Handelsbanken EMEA Tema (A1 NOK)
• Invesco Developing Markets SRI Equity Fund C

On our trading platforms, we want to offer all customers a broad and competitive range of funds within different geographical areas, industries and sectors. The selection is evaluated annually based on customer feedback and demand. We have now conducted an annual review of the mutual funds which are distributed by DNB, and some of these funds will no longer be available on our trading platforms due to the low demand from our customers.

The following mutual funds will no longer be available for trading on DNB’s trading platforms, and will be liquidated by us:

• PLUSS Aksje (NO0010606072)
• Invesco Cont European Sm cap EQ A (LU1775961243)
• Invesco Eur Equity A (LU1240328812)
• Invesco Eur Structured Eq A (LU1290959623)
• Invesco Pan European Equity A (LU0028118809)
• Invesco US Structured Equity A (LU0149503202)
• Sparinvest SICAV Etichal Global Val EUR R (LU0362355355)
• Sparinvest SICAV European Value R (LU0264920413)
• Sparinvest SICAV Global Value EUR R (LU0138501191)
• Sector Healthcare Value Class B NOK (IE00BD4TR802)
• Aviva Investors - European Equity Fund B EUR (LU0010019577)
• Robeco Emerging Stars Equities (LU0334642401)

What do you need to do?

As of 10 March 2022, the funds will no longer be available for trading on DNB’s trading platforms. We therefore request that you either redeem your shares in the above-mentioned funds or carry out a fund exchange to another fund that we offer. If you do not do anything by 10 March, all your shares in the above-mentioned mutual funds will be automatically redeemed by us with a price date of 15 March 2022. Final redemption amounts will be transferred to the bank account that you have in the DNB Share savings account. If you have shares outside of the DNB Share savings account, the shares will be reinvested to DNB Liquidity A. We would like to point out that your regular savings schemes in these funds will also be closed. If you want a new savings scheme, it must be re-established in the fund you choose.

Potential tax consequences

When a personal customer exchanges funds or sells shares, the transaction will trigger a tax realisation where profits are liable for tax and losses will be tax-deductible. If the holdings are in a Share Saving Account (ASK), no exchange or sale will trigger a tax liability. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. Deductions for losses within ASK only take effect when the account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.

To avoid shareholders being charged costs that are incurred when other shareholders make large subscriptions or redemptions in the mutual funds, Storebrand Asset Management is introducing swing pricing from 14 February 2022.

Significance to shareholders

In practice, introducing swing prices to the mutual funds managed by Storebrand Asset Management AS (the Storebrand and Delphi mutual funds) has little impact on unit holders, since Storebrand Asset Management already has a compensation scheme. The unit holders’ interests and values will still be properly taken care of. However, for the mutual funds, the scheme will be automated and efficient.

Swing pricing is the scheme that most management companies already use, both in Norway and Europe generally, precisely to avoid the existing unit holders suffering losses.

Read more on Storebrand’s web pages

We inform our shareholders that KLP’s Kapitalforvaltning (Asset Management) plans to introduce share classes in the KLP funds from 25 April 2022. A conversion to share classes will make the administration of the mutual funds more effective, which will also contribute to KLP maintaining low management costs in the mutual funds in the future.

How the conversion will take place

If unit holders in one or more KLP mutual fund(s) consent to changes in the mutual funds’ articles of association to facilitate the introduction of share classes, and for the planned mergers, unit holders do not need to do anything.

The conversion does not involve any changes in the management of the funds, or in the funds’ risk or expected return. Management costs for individual shareholders remain unchanged. The changes will have no tax implications for shareholders. As a unit holder, the change will be noted by the name of the fund share being changed slightly. Some will also find that the fund has received a new registration number.

A unit holder meeting will be held on 17.02.2022 at 14:00.

Read more on KLP’s web pages

DNB AM Pengemarked and DNB Pengemarked are changing their names to DNB AM Likviditet and DNB Likviditet II respectively. The changes will take effect from 1 February 2022.

Read more about the change here

We are announcing today that the equity fund SEF FIRST Opportunities (LU1369651663) will be merged with FIRST Opportunities (NO0011073835) which is an equivalent mutual fund established and registered in Norway. The merger will enter into force on 21 January 2022.

How the merger will take effect

Unit holders do not need to do anything about this, but if you do not want to be part of the merger, the mutual fund will be open to trading through DNB until we close trading in the mutual fund on Wednesday 12 January 2022 at 15. After that, the shares will be locked until the merger is completed and the new holdings in the acquiring fund are shown in the shareholder’s fund account.

Any savings schemes will be transferred to the acquiring fund.

The merger ratio is 1:1. Unit holders will only find that the mutual fund has a new ISIN number.

fundsforvaltning AS hereby announces that their equity fund Pluss Indeks (ISIN: NO0010606098) will be merged with Pluss Markedsverdi on 20 December 2021.

The acquiring mutual fund is not distributed by DNB, and Pluss Indeks will therefore be liquidated by us.

Possible tax consequences:

When a personal customer exchanges funds or sells shares, the transaction will trigger a tax realisation where profits are liable for tax and losses will be tax-deductible. If the holdings are in a Share Saving Account (ASK), no exchange or sale will immediately trigger a tax liability. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. Deductions for losses within ASK only take effect when the account is closed. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

In future, it will be even easier for customers of Danske Bank and Dansk Invest to invest in mutual funds with a focus on responsible and sustainable management.

By the end of the year, over 130 mutual funds, across Danske Invest’s markets, will be categorised as ESG funds, while 10 mutual funds will be categorised as funds with sustainable investment goals.

Read more about the change here

We hereby inform our unit holders that Jyske Capital has decided to liquidate the equity fund Jyske SICAV Equity Low Volatility (LU1529111574).

How the liquidation will take place:

The fund was closed to trading on 23 November, and any savings schemes in the fund have now been closed. The fund is in liquidation and the shares in the fund will be redeemed before 3 December, and the liquidation settlement will be transferred early in December. If the fund is placed in a DNB Share Savings Account (ASK), the amount will be transferred to the ASK bank account. However, if the holdings are outside ASK, the value will be moved to DNB Liquidity A.

Possible tax consequences:

When a personal customer exchanges funds or sells shares, the transaction will trigger a tax realisation where profits are liable for tax and losses will be tax-deductible. If the holdings are in a Share Saving Account (ASK), no exchange or sale will immediately trigger a tax liability. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. Deductions for losses within ASK only take effect when the account is closed. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

Additional information can be found on Jyske’s website: Read more here

Changes to Storebrand Fornybar Energi

The most significant change is that the minimum purchase amount in the mutual fund’s share class S is increasing from NOK 300 to NOK 10 000 000.

What does the change mean for you?

From 1 November, Storebrand will no longer accept new purchases and/or savings schemes in this share class that do not meet the new minimum subscription requirement, and the mutual fund will be closed to new purchases through DNB from and including 28 October 2021 at 15:00. All savings schemes in Storebrand Renewable Energy S will be deleted.

At the same time, Storebrand will launch a new share class in the same fund which is called Storebrand Fornybar Energi N with a minimum subscription of NOK 300.

What do you need to do?

You can either redeem or move the holding to another fund. If you do not do anything, DNB may at a later date liquidate the distribution of the fund and redeem the shares.

Either move to the same type of mutual fund or to another fund:

If you want the same type of fund, you can choose Storebrand Fornybar Energi (Renewable Energy) N. This is a net class with a total price for customers of 1.05%. In a net class, the total cost is divided into two parts. You pay the fund’s management cost (0.75%) to the fund’s management company and a platform fee of (0.30%) to the distributor of the fund. The platform fee is calculated annually and is charged quarterly to your bank account.

You can also choose to move your mutual fund holding in Storebrand Fornybar Energi S to another mutual fund distributed by DNB.

Potential tax consequences

When a personal customer exchanges funds or sells shares, the transaction will trigger a tax realisation where profits are liable for tax and losses will be tax-deductible. If the holdings are in a Share Saving Account (ASK), no exchange or sale will immediately trigger a tax liability. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. Deductions for losses within ASK only take effect when the account is closed. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

Read more about the change here

Changes to equity fund C Worldwide Global Etisk (ISIN NO0010082415)

The mutual fund will be offered to retail customers and therefore the minimum amount is changing from NOK 4 million to NOK 1000. At the same time, the annual management fee is changing from 1.20 per cent to 1.60 per cent.

Applies from 1 October 2021.

Read more about the change here

Summary of intentions from Danske:

Aksjefondet Danske Invest Norge Vekst (Norway Growth) is a success story and has delivered very good returns over a long period of time to its shareholders. This has also meant that the fund’s total assets have seen strong growth. The total assets this fund has now amassed mean that they risk becoming too large an investor in some of the companies we are invested in. If Danske does not take action on the size of the fund, there is a risk that the investment strategy will not be implemented optimally, which may reduce the return on the fund. This is not in the interest of existing shareholders.

This applies to the mutual fund with the following ISIN: NO0008000486

New name: DNB Fund – Asian Mid cap

New mandate: The mutual fund will mainly invest in “mid-cap”

New benchmark index: MSCI All countries Asia (ex-Japan) Mid Cap

New name: DNB Fund – Future Waves

New mandate: The fund promotes ESG. To achieve compliance with article 8 of SFDR, it was necessary to make some reallocations and adjustments to the portfolio.

New name: DNB Fund – Emerging Markets Equities

New mandate: The fund promotes ESG. To achieve compliance with article 8 of SFDR, it was necessary to make some reallocations and adjustments to the portfolio.

New mandate: An amendment to the prospectus that aims to clarify the current geographical target for the fund’s investment in shares. The fund promotes ESG. To achieve compliance with article 8 of SFDR, it was necessary to make some reallocations and adjustments to the portfolio.

New benchmark index: LPX50 Listed Private Equity Index

New name: DNB Fund – TMT Long/Short Equities

New mandate: The fund promotes ESG. To achieve compliance with article 8 of SFDR, it was necessary to make some reallocations and adjustments to the portfolio. Neither is there access to invest in subfunds that invest more than 10 per cent in other UCITS(s) or UCI(s) mutual funds.

New mandate: A change in the prospectus which clarifies that it is not possible to invest in subfunds that invest more than 10 per cent in other UCITS(s) or UCI(s) mutual funds.

Changes to the investment strategy for horisont (horizon) funds from Danske Invest

Applies to the following mutual funds:

• Danske Invest Horisont 80 - NO0010621774
• Danske Invest Horisont 80 class NOK - DK0060657328
• Danske Invest Horisont 100 class NOK - DK0060657591

The changes reduce the proportion of Norwegian shares to the benefit of global shares in the equity portion of these funds. The proportion of Norwegian shares has been reduced from 35% to 20% of the proportion of shares with a neutral market view. The changes are valid from 7 September 2021.

The equity fund Pareto Nordic Return A (NO0010040504) was merged with Pareto Investment Fund A (NO0010040496) on 30 September 2021.

The funds are managed by Pareto Asset Management AS.

How the merger will take effect

There is no need for shareholders to take any action in this regard. The fund was closed for trading on Friday 24 September 2021 at 15. The merger is underway and shareholders will soon see new holdings in the online bank and the Spare app.

Any savings schemes will be transferred to the acquiring fund.

Potential tax consequences

This merger does not cause any tax to be realised. Shareholders who do not wish to own shares in the acquiring fund must redeem them in the regular way.

Read more about Pareto

KLP is calling a unit holders’ meeting on 15 October 2021

KLP is planning changes to the articles of association of 19 mutual funds.

The change relates to the expansion of equity marketplaces. There are no changes to the mutual funds’ investment strategies or significant changes to how the investment of the funds’ assets is planned over time.

Read more about the changes here (PDF, Norwegian)

The mutual fund is changing its name to Fondsfinans Fornybar Energi (Renewable Energy). Fund ISIN: NO0010047202

The investment strategy is being changed to the following:

Fondsfinans Fornybar Energi (Renewable Energy) will invest globally in companies that are helping to solve the world’s climate challenges. The mutual fund will primarily invest in the whole value chain for companies who produce renewable energy, including suppliers of products and services to the renewable energy sector, including storage and transport.

The articles of association change applies from 15 February 2021. The Financial Supervisory Authority of Norway gave its approval of the articles of association changes on 25 January 2021.

After launching on 13 March 2008, the subfund Nordea 1 – Global Climate and Environment Fund (ISIN: LU0348926360) has had a significant influx in recent years and has now utilised its full capacity.

To allow the Portfolio Manager to continue to manage the mutual fund effectively, and to ensure existing unit holders will be able to benefit from the strong growth of the fund, the Board of Nordea 1, SICAV has decided to close to new investors from and including 26 February 2021 and for an indefinite period (“Soft closure”).

Therefore, from and including 15:30 CET on 26 February 2021, enquiries about subscribing to or exchanging shares in the fund from investors who are not already unit holders of the fund, will not be approved. If you are an existing shareholder in the mutual fund, you can still subscribe to, exchange and redeem shares in the fund.

The decision to close the mutual fund to new unit holders will be revised when it is once again established that subscriptions to the fund from new investors can be managed without being to the detriment of the existing unit holders.

Aksjefondet SEB Latinamerikafond (Latin America Fund) (SE0000433138) is being merged with SEB Emerging Marketsfond, SEK share category (SE0000984155) on 15 March 2021. The acquiring mutual fund is not distributed by DNB, and SEB Latinamerikafond will therefore be liquidated by us.

SEB Latinamerikafond is a mutual fund that is managed by SEB Investment Management AB.

How the liquidation will take place

SEB Latinamerikafond was closed to subscription and redemption on 5 March 2021 and any savings schemes in the fund have now been terminated. The process for redeeming all shares in the fund has begun. If the fund has been placed in a DNB Share savings account (ASK), the amount will be transferred to an ASK bank account. However, if you have holdings outside of ASK, the value will be moved to DNB Liquidity A.

Read more about the change at SEB

The fee is changed from 1.75 per cent to 1.50 per cent and the change applies from 15.03.2021. The amendment concerns ISIN NO0008000577.

Read more about the change at Danske Bank

Fondsselskapet Harvest is closing its operations. From 18 January 2021, the responsibility for the management was taken over by Fair Investments Sweden AB. This is commissioned by the acquiring mutual fund company, ISEC Services AB.

This applies to the following two share classes:

• Fronteer Harvest A - SE0008348759
• Fronteer Harvest K - SE0009779630

DNB will still distribute both share classes and shares will still be registered with DNB. There is therefore no need for shareholders to take any action in this regard.

Read the information from Fair Investments AB

Read more about ISEC

Aberdeen announces name change to Abrdn.

Read more about the change at Abrdn

Storebrand Asset Management has decided to postpone the introduction of swing pricing on its mutual funds. This also affects the funds from Delphi.

A short time ago, it was decided to set up a user forum under the auspices of the Norwegian Fund and Asset Management Association (VFF) to ensure equal practice in the industry when using swing pricing. To secure a good relationship between these discussions in the user forum and any conclusions in the form of industry norms in this area, Storebrand Asset Management wants to postpone the implementation of swing pricing which was previously communicated to be from 1 June 2021.

Read more at Delphi

On 2 July 2021, the equity funds SEB Eastern Europe Ex Russia (LU0070133888) and SEB Russia Fund (LU0273119544) will be merged. Both funds will be merged with the SEB Eastern Europe Small Cap equity fund (LU0086828794).

If you are a shareholder and wish to participate in the merger, you do not need to do anything. However, if you do not wish to participate in the merger, the funds will be closed to trading through DNB on 14 June 2021 at 15:00.

Any savings schemes will be transferred to the acquiring fund.

Tax consequences

This merger does not cause any tax to be realised.

However, should unit holders decide to redeem their shares, the transaction will in principle cause a taxable realisation for retail investors where profits are taxable and losses deductible. If the holdings are held in a Share savings account (ASK) the execution will not trigger tax liability immediately. Taxation only occurs when withdrawing from ASK when the withdrawal value exceeds the deposited amount (sum cost price) in the ASK account. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.

Read more about the merger at SEB