Mutual fund changes
Here you’ll find information about changes to the mutual funds that DNB distributes.
Invitation to shareholder meeting at Storebrand on 11 November
We send information to unit holders in the securities funds SKAGEN Avkastning and/or SKAGEN Likviditet. Storebrand Asset Management AS welcomes you to a shareholder meeting.
Time and place of the meeting:
- Date: 11 November 2025
- Time: Time 13.00
- Location: Storebrand Asset Management AS, Professor Kohts vei 9, 1327 Lysaker
The reason for the meeting:
Storebrand wants to simplify and streamline the mutual fund offering in line with the current mutual fund strategy. It is therefore proposed to merge the following mutual funds:
- SKAGEN Avkastning will be merged with Storebrand Kreditt
- SKAGEN Likviditet will be merged with Storebrand Kort Kreditt IG
What does this mean for unit holders like you?
If you own shares in SKAGEN Likviditet and/or SKAGEN Avkastning, your shares will be transferred to the respective Storebrand funds. After the merger, your shares will be governed by the Storebrand funds’ management strategy.
Implementation of the merger:
- The merger is planned to take place on 5 December 2025.
- The transferring funds are closed to trading two working days before the merger.
- New purchases must be made in acquiring Storebrand mutual funds.
- It may take a few days before you see your new inventory.
Practical information:
As you have your shares registered with DNB, your registration or voting slip must be sent by 4 November 2025 to fond@dnb.no.
You can find more information, authorisation forms, reminders and key details on Storebrand’s websites.
Feel free to contact us by telephone on 2247 4000 if you have any questions about the shareholder meeting.
Eika Egenkapitalbevis is closed to trading for new customers
Applies to the mutual fund Eika Egenkapitalbevis N. ISIN: NO0011029365. Trading from existing customers and savings schemes continue as normal.
Eika Egenkapitalbevis is an industry mutual fund with a limited investment universe, and therefore a limited opportunity for growth in AUM (Assets Under Management). In recent years, Eika has seen a large net subscription to the fund, so that the assets in the fund have grown from NOK 1.3 billion in 2020 to over NOK 5 billion in 2024 and over NOK 9 billion today.
Liquidation of the equity fund C WorldWide Norge Fossilfritt+
C WorldWide Asset Management AS has decided to wind up the equity fund CWW Norge Fossilfritt+ for commercial reasons.
How the liquidation will take place
The liquidation is already underway and the fund was closed to trading on 10 October 2025. The shares in the fund will be redeemed on 17 October 2025. The liquidation settlement will be transferred to the customer’s bank account as soon as possible after that.
If you hold the mutual fund in a Share savings account, the amount will be transferred to the share savings account. If it is held outside of a share savings account, the amount will paid into the bank account where it is held. Any savings schemes linked to the mutual fund will be stopped.
Tax consequences
In principle, the redemption of shares results in a realisation for tax purposes for personal investors, where profits are taxable. Any losses will entitle you to a deduction. If the holdings are in a share savings account, the realisation will not trigger a tax liability immediately. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK.
More information can be found on the C Worldwide website.
If you have any questions related to this, please contact us via email at fond@dnb.no or by phone on 2247 4000.
Liquidation of the BlackRock Nutrition mutual fund
For commercial reasons, BlackRock has decided to wind up the BlackRock Nutrition equity fund. We are informing shareholders of the liquidation as they have registered shares in the fund.
How the liquidation will take place
The liquidation is already underway and the fund will be closed to trading on 7 November 2025. The shares in the fund will be redeemed on 14 November 2025. The liquidation settlement will be transferred to your bank account as soon as possible after that.
If you hold the mutual fund in a Share savings account, the amount will be transferred to the share savings account. If it is held outside of a share savings account, the amount will paid into the bank account where it is held. Any savings schemes linked to the mutual fund will be stopped.
Tax consequences
In principle, the redemption of shares results in a realisation for tax purposes for personal investors, where profits are taxable. Any losses will entitle you to a deduction. If the holdings are in a share savings account, the realisation will not trigger a tax liability immediately. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK.
If you have any questions related to this, please contact us via email at fond@dnb.no or by phone on 2247 4000.
Changes to DNB’s Luxembourg-registered funds
DNB Asset Management is introducing changes to mutual funds registered in Luxembourg.
The changes came into force on 29 September 2025.
In general, the changes to the mutual fund names, share classes, Sustainable Finance Disclosure Regulations (SFDRs) and mandate changes in DNB Fund Stable Alpha apply.
Detailed information can be found on DNB Asset Management’s own website.
Invitation to a Fondfinans extraordinary shareholder meeting
Only applies to unit holders of the mutual funds Fondsfinans Kreditt and/or Fondsfinans High Yield.
Fondsfinans Kapitalforvaltning AS welcomes you to an extraordinary shareholder meeting on 17 October 2025 at 09:00 at their premises in Haakon VII’s Gt. 2, 6th floor in Oslo.
Items on the agenda:
- Amendment to articles of association for Fondsfinans Kreditt and Fondsfinans High Yield
- Miscellaneous
At Fondsfinans you will find additional information, the proxy form and advance voting form
Registration for the shareholder’s meeting must be sent no later than 15 October 2025 to DNB by email to fond@dnb.no
The completed and signed form must be submitted to fond@dnb.no.
If you have any questions about the shareholder meeting, you can call us on 22 47 40 00.
Merger of Franklin Templeton European Opportunities
We are informing unit holders of Franklin Templeton European Opportunities Fund A (Isin: LU0122612848) that their mutual fund will be merged with the Templeton European Insights Fund Class A (Isin: LU0093666013).
How the merger will take effect
There is no need for shareholders to take any action in this regard. The mutual fund will be closed to trading on 17 October 2025. The merger will take place on 24 October 2025 and the new holding will appear shortly in the unit holder’s mutual fund account.
Any savings schemes will be transferred to the acquiring fund.
Tax consequences:
Mergers do not cause any tax to be realised. If the unit holder chooses to sell or exchange the mutual fund on their own, the ordinary tax rules apply. Realisation through sale or exchange will have tax consequences if the fund is placed in a mutual fund account. If the funds are placed in a share savings account, the exchange or sale will not lead to any realisation for tax purposes. Taxation only occurs when withdrawing from the share savings account when the withdrawal value exceeds the tax-free withdrawal amount.
Summons to shareholders’ meeting of the Heimdal mutual funds
The shareholders’ meeting will be held for the mutual funds Heimdal Utbytte, Heimdal Norden Utbytte and Heimdal Høyrente, on Tuesday 16 September 2025 at 13:00-14:00 at the premises of Heimdal Management AS (Heimdal) located at Knud Holms gate 8, 4005 Stavanger.
Shareholders wishing to attend the meeting must communicate this via fond@dnb.no. Registration must be received by 15:00 the day before the meeting and be made via email at fond@dnb.no.
Agenda: The following matters will be addressed:
- Approval of summons
- Election of presiding chair and two participants in the meeting to sign the book of minutes
- Questions submitted by shareholders
- Changes to articles of association for Heimdal Utbytte, Heimdal Norden Utbytte and Heimdal Høyrente
The summary of intentions for the proposed merger and the consequences for shareholders can be found on Heimdal’s website
At least 75% of the units represented at the shareholder meeting of the Mutual Funds must voted for the mergers in order for the shareholder meeting to be deemed to have agreed to the mergers. The result of the voting will be published on the Management company’s website after the shareholder meeting has ended.
Unit holders are encouraged to cast an advance vote or send a voting proxy. This can be done by contacting our Mutual Fund Centre on 2247 4000 or via fond@dnb.no.
Important information: Introduction of underwriting commission in Fondsfinans Utbytte
We would like to inform unit holders of an important change in the mutual fund in the mutual fund Fondsfinans Utbytte (ISIN: NO0013023234), which is managed by Fondsforvaltning Kapitalforvaltning AS.
Fondsbytte Utbytte has been a popular mutual fund in recent years and has seen significant growth. Growth has partly been driven by high returns, but also by interest from both new and existing unit holders. Fondsfinans now wants to slow down the growth of the fund in order to ensure the best possible management of the fund going forward. They are now doing this by introducing a subscription commission of 5% for new subscriptions to the fund.
What does this mean?
Starting on 12 September 2025, the fund will charge new subscriptions a subscription commission. For example, a new subscription to the fund will cost NOK 5,000 for an investment of NOK 100,000. The subscription commission accrues to Fondsfinans Kapitalforvaltning and the mutual fund as a whole. As the introduction of the subscription commission is a change to the cost of the fund, this is therefore not covered by the change provisions of the Financial Contracts Act in the agreement you have with DNB. Please note that savings schemes set up before 12 September 2025 will not be charged a subscription commission and will continue as normal.
Merger of the Forte mutual funds
Unit holders are receiving this notification because they hold units in one or more of the Forte mutual funds. The management company wants to carry out cross-border mergers where the funds are merged with Swedish UCITS mutual funds managed by FCG Fonder AB. The mutual funds will be managed by Kraft Finans AS, which owns all shares in FORTE Fondsforvaltning AS.
How the merger will take effect:
Shareholders do not need to do anything about this, the mergers will take place automatically on 26 August 2025. The mutual fund units they own are being moved, including those included in active savings schemes.
The mutual funds were closed to trading five working days before the mergers. The holdings in the new fund will soon be visible in the mutual fund or share savings account. The acquiring fund will have almost equal management and market exposure. The mutual fund will get a new fund name, ISIN no., number of shares and fund price after the merger.
Tax consequences:
Mergers do not cause any tax to be realised. If you choose to sell or exchange the fund yourself, the ordinary tax rules apply. Realisation through sale or exchange will have tax consequences if the fund is placed in a mutual fund account. If your mutual funds are placed in a share savings account, the exchange or sale will not lead to any realisation for tax purposes. Taxation only occurs when withdrawing from the share savings account when the withdrawal value exceeds the tax-free withdrawal amount.
The following mutual funds are included in the merger:
| ISIN | Transferor | ISIN | Transferor | |
|---|---|---|---|---|
NO0010601271 | FORTE Norge A | SE0025158967 | FORTE Norge A | |
NO0010665441 | FORTE Trønder A | SE0025158967 | FORTE Norge A | |
NO0010601289 | FORTE Global A | SE0025159171 | FORTE Strategic A | |
NO0010601297 | FORTE Obligasjon A | SE0025159155 | FORTE Obligasjon A |
Mutual fund changes from 2025
Danske Invest mutual funds moved to Luxembourg on 09.12.2024.
Danske Bank and Danske Invest Asset Management AS (the “Management Company”) have decided that all Norwegian registered Danske Invest mutual funds shall be consolidated to Luxembourg before the end of 2025.
On 20 June 2025, the Management Company received permission from the Financial Supervisory Authorities of Norway and Luxembourg to carry out this consolidation. The consolidation is carried out via cross-border mergers between the Norwegian-registered funds with the corresponding mutual fund based in Luxembourg.
On this basis, the Management Company is calling a joint shareholder meeting in the mutual funds (the “Mutual Funds”):
Danske Invest Norge I (org. no. NO 968 127 799)
Danske Invest Norge II (org. no. NO 968 006 959)
Danske Invest Norge Growth (org. no. NO 968 007 386)
The shareholder meeting will be held at the offices of the Management Company at:
Bryggetorget 4, 0250 Oslo. 11 July 2025 10:00 a.m.
At least 75% of the units represented at the shareholder meeting of the Mutual Funds must voted for the mergers in order for the shareholder meeting to be deemed to have agreed to the mergers. The result of the voting will be published on the Management company’s website after the shareholder meeting has ended.
The summary of intentions for the proposed merger and the consequences for unit holders can be found on the Danish Invest website: Summons 23.06.2025
Unit holders are encouraged to cast an advance vote or send a voting proxy. This can be done by contacting our Mutual Fund Centre on 2247 4000 or via fond@dnb.no.
Proposed merger between FIRST Generator and FIRST Global Focus
FIRST Fondene AS wishes to merge the FIRST Generator mutual fund (“Transferring fund”) and the FIRST Global Focus mutual fund (“Acquiring fund”) on 10 July 2025.
The summary of intentions for the proposed merger and the consequences for shareholders can be found on the FIRST Mutual Funds’ websites.
The proposed merger has been processed and approved by the Board of FIRST Fondene and the Financial Supervisory Authority of Norway has given its permission for the merger to go ahead. FIRST is therefore summoning unit holders of both mutual funds to the shareholder meeting on 20 June 2025 at 12.30. The meeting is being held at FIRST’s premises in Munkedamsveien 45E, 0250 Oslo.
Unit holders are encouraged to cast an advance vote or send a voting proxy. This can be done by contacting our Mutual Fund Centre on 2247 4000 or via fond@dnb.no.
What does this mean?
If at least 75 per cent of the represented units in the shareholder meetings vote for the merger, it will enter into force on 10 July 2025. On the effective date, all assets and liabilities in the transferring fund will be transferred to the acquiring fund. The transferring fund will be dissolved at the same time. Unit holders who do not agree with the merger have the right to request a redemption or exchange of their shares free of charge from the date of this notice until 12:00 on 7 July 2025. Redeeming or exchanging can result in a realisation for tax purposes. The right to a fee-free redemption or exchange does not include exemptions from fluctuations in unit value that are implemented to prevent the dilution of existing unit holders. Since unit holders of the FIRST Funds are not charged fees for subscriptions and redemptions, the right to a fee-free redemption has no practical significance for unit holders.
In the coming days, we will send out information to all unit holders in ODIN and Holberg mutual funds:
From 11 June 2025, the mutual funds will move from a share class to a so-called net share class without soft commission. This is being enacted according to clarifications from the Financial Supervisory Authority of Norway and requirements from the management companies. ODIN and Holberg are stopping the payment of soft commission to distributors, which means that we do not receive any soft commission to pass on to unit holders. When we switch share classes, it will be easier for unit holders to get an overview of what they are paying to whom for their saving in mutual funds.
What does this mean for shareholders?
Unit holders will still be invested in the same mutual fund, but in a new share class. The change will take place automatically, so they don’t need to do anything. Changing share class will result in some changes in price. In the vast majority of cases, a new share class will result in a lower price, but unit holders will, for example, have an annual additional cost of NOK 120 for an investment of NOK 100,000 in ODIN Kreditt.
It will take a few days after the exchange before the new inventory is visible. Switching to a new share class entails changes in the mutual fund’s name, ISIN number, mutual fund price and number of units. Unit holders will have similar market exposure, risk profile and market value.
Existing savings schemes with funds from ODIN will be transferred into a new share class.
The change does not result in any realisation for tax purposes, and you will not be out of the market during the exchange period. The existing share class will be closed to trading two working days before the move, and purchases must be made in the new share class.
New prices:
Holberg Global A: Today’s mutual fund price: 1.05%, New mutual fund price: 1.20%, Change: 0.15%.
Holberg Global Valutasikret A: Today’s mutual fund price: 1.05%, New mutual fund price: 1.20%, Change: 0.15%
Holberg Norden A: Today’s mutual fund price: 1.05%, New mutual fund price: 1.30%, Change: 0.25%.
Holberg Norge A: Today’s mutual fund price: 1.05%, New mutual fund price: 1.30%, Change: 0.25%.
Holberg Vekstmarkeder A: Today’s mutual fund price: 1.30%, New mutual fund price: 1.50%, Change: 0.20%
Holberg Triton A: Today’s mutual fund price: 1.30%, New mutual fund price: 1.30%, Change: 0.00%.
Holberg Kreditt A: Today’s mutual fund price: 0.60%, New mutual fund price: 0.80%, Change: 0.20%
Holberg Likviditet A: Today’s mutual fund price: 0.33%, New mutual fund price: 0.25%, Change: -0.08%.
ODIN Aksje C: Today’s mutual fund price: 1.05%, New mutual fund price: 1.05%, Change: 0.00%.
ODIN Eiendom C: Today’s mutual fund price: 1.05%, New mutual fund price: 1.05%, Change: 0.00%.
ODIN Emerging Markets C: Today’s mutual fund price: 1.05%, New mutual fund price: 1.05%, Change: 0.00%.
ODIN Global C Today’s mutual fund price: 1.05%, New mutual fund price: 1.05%, Change: 0.00%.
ODIN Norden C: Today’s mutual fund price: 1.05%, New mutual fund price: 1.05%, Change: 0.00%.
ODIN Small Cap C: Today’s mutual fund price: 1.05%, New mutual fund price: 1.05%, Change: 0.00%.
ODIN Norge C: Today’s mutual fund price: 1.05%, New mutual fund price: 1.05%, Change: 0.00%.
ODIN Sverige C: Today’s mutual fund price: 1.05%, New mutual fund price: 1.05%, Change: 0.00%.
ODIN US C: Today’s mutual fund price: 1.05%, New mutual fund price: 1.05%, Change: 0.00%.
ODIN Europeisk Obligasjon C: Today’s mutual fund price: 0.40%, New mutual fund price: 0.30%, Change: -0.10%.
ODIN Kreditt C: Today’s mutual fund price: 0.58%, New mutual fund price: 0.70%, Change: 0.12%.
ODIN Likviditet C: Today’s mutual fund price: 0.38%, New mutual fund price: 0.25%, Change: -0.13%.
Only applies to Sbanken mutual fund customers.
Handelsbanken Fonder AB has decided that the equity fund Handelsbanken Brasilien Tema (ISIN: SE0011336841) will be merged with Handelsbanken Vekstmarked Tema (ISIN: SE0006789764) on 15 March.
How the merger will take effect
There is no need for unit holders to take any action in relation to the merger. Handelsbanken Brasilien Tema will close for trading on Wednesday 5 March 2025. The merger will then be implemented, and an overview of your new inventory will be shown in the app once everything is ready. Any savings schemes in Handelsbanken Brasilien Tema will continue in Handelsbanken Vekstmarked Tema.
Tax consequences
The merger does not result in any realisation for tax purposes.
If you choose to sell or exchange the fund yourself, the ordinary tax rules apply. Realisation through sale or exchange will have tax consequences if the fund is placed in a mutual fund account. If your mutual funds are placed in a share savings account, the exchange or sale will not lead to any realisation for tax purposes. Taxation only occurs when withdrawing from the share savings account when the withdrawal value exceeds the tax-free withdrawal amount.
You’ll find more information about the merger on Handelsbanken’s website
Only applies to Sbanken mutual fund customers
Danske Invest has decided that the equity fund Danske Invest - India will be merged with Danske Invest - Global Emerging Markets on 21 February 2025. This affects the following two share classes:
- Danske Invest - India (LU0193801577) Class A, running costs: 2.10% - Danske Invest - Global Emerging Markets (LU0085580271) Class A, running costs: 1.92%.
- Danske Invest - India (LU2607346017) Class A - SEK, running costs: 2.10% – Danske Invest - Global Emerging Markets (LU2607346793) Class A - SEK, running costs: 1.92%.
How the merger will take effect
There is no need for unit holders to take any action in relation to the merger. Danske Invest - India will be closed to trading on Thursday 13 February 2025. The merger will then be implemented, and an overview of the new inventory will be shown in the app once everything is complete. Any savings schemes will continue in Danske Invest – Global Emerging Markets.
Tax consequences
The merger does not result in any realisation for tax purposes. If you choose to sell or exchange the fund yourself, the ordinary tax rules apply. Realisation through sale or exchange will have tax consequences if the fund is placed in a mutual fund account. If the mutual funds are placed in a share savings account, the exchange or sale will not lead to any realisation for tax purposes. Taxation only occurs when withdrawing from the share savings account when the withdrawal value exceeds the tax-free withdrawal amount.
You can find more information about the merger on the Danish Invest website
ISIN: NO0010817919
Storebrand Asset Management AS has held a shareholder meeting for the Storebrand Indeks-Nye Markeder mutual fund.
Storebrand Asset Management is amending the articles of association for the mutual fund Storebrand Indeks-Nye Markeder, which gives the fund the opportunity to invest in companies with a higher weighting than 10% of the benchmark index. The change is necessary to ensure that the fund can still reflect the properties of its benchmark index. The fund has now found itself in a situation whereby a single company included in the fund’s benchmark index constituted 10 per cent of the benchmark index as of 30.10.2024. Therefore, the investment limit of the fund has been changed so that the fund can have the same weighting in a company as the company’s weighting in the benchmark index.
The change only applies to Sbanken mutual fund customers.
Eika Kapitalforvaltning AS has decided to stop the payment of soft commission. Since Sbanken repays soft commission to unit holders, this means that unit holders will have higher costs on Eika mutual funds when the soft commission is revoked.
New mutual fund prices apply from 1 January 2025. There is no change in platform fees to Sbanken.
Eika has begun the distribution of net share classes that do not pay soft commission, but where the management fee is set somewhat lower. Our plan is for shareholders to be automatically transferred to the new net share classes during the spring. But we can inform you that the new current mutual fund prices are already set equal to the prices of the new net share classes that are coming later.
- Eika Alpha - Current overall price 1.55% - New overall price: 1.95%. Change: 0.40%
- Eika Balansert - Current overall price 0.90% - New overall price: 1.10%. Change 0.20%
- Eika Global - Current overall price 1.05% - New overall price: 1.30%. Change: 0.25%
- Eika Norden - Current overall price 1.05% - New overall price: 1.30%. Change: 0.25%
- Eika Norge - Current overall price 1.05% - New overall price: 1.30%. Change: 0.25%
- Eika Spar - Current overall price 1.05% - New overall price: 1.30%. Change: 0.25%
Existing savings schemes with Eika mutual funds will be continued. If unit holders want to switch to other funds, they can do that in the app under Change fund.
DNB Asset Management AS plans to merge DNB Liquidity II with DNB Liquidity, as the two funds have identical fund provisions, management mandates and portfolio content. DNB Likviditet II will be the transferring fund that will be merged with the acquiring fund DNB Likviditet.
All necessary information regarding the merger can be found here
Applies to both DNB and Sbanken fund customers.
We would like to inform you that Danske Invest has decided to wind up the Danish Invest Global Emerging Markets Small Cap equity fund, share class:
LU0292126785 - Danske Invest Global Emerging Markets Small Cap A
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 20 January, and any savings schemes have now been terminated. The fund is in liquidation and the shares in the fund were redeemed before 14 February, and the liquidation settlement will be transferred in the middle of February. If the fund is placed in your DNB share savings account, the amount will be transferred to the share savings account. However, if the holding is outside of a share savings account, the value will be moved to DNB Likviditet A. For Sbanken’s mutual fund customers, the value will be paid out to the associated bank account.
Possible 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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
Storebrand Asset Management AS has decided to reduce the payment of soft commission for mutual funds from SKAGEN. Since Sbanken repays soft commission to unit holders when they trade funds with soft commission, this means that unit holders will have higher costs on SKAGEN mutual funds when the soft commission is reduced.
New price
The changes result in a price increase for the SKAGEN mutual funds from 10 March 2025. For example, unit holders will have an annual additional cost of NOK 300 for an investment of NOK 100,000 in SKAGEN Global A.
Price list for Sbanken mutual fund customers:
- SKAGEN Focus A: Today’s mutual fund price: 1.50%, New mutual fund price: 1.60%, Change: 0.10%.
- SKAGEN Global A: Today’s mutual fund price: 0.80%, New mutual fund price: 1.10%, Change: 0.30%
- SKAGEN Kon-Tiki A: Today’s mutual fund price: 1.80%, New mutual fund price: 1.80%, Change: 0.00%
- SKAGEN m2: Today’s mutual fund price: 1.43%, New mutual fund price: 1.60%, Change: 0.10%
- SKAGEN Vekst A: Today’s mutual fund price: 0.80%, New mutual fund price: 1.10%, Change: 0.30%
- SKAGEN Avkastning: Today’s mutual fund price: 0.33%, New mutual fund price: 0.50%, Change: 0.17%
- SKAGEN Likviditer: Today’s mutual fund price: 0.23%, New mutual fund price0.35%, Change: 0.12%
Price list for DNB Fund customers:
- SKAGEN Focus A: Today’s mutual fund price: 1.60%, New mutual fund price: 1.60%, Change: 0.00%.
- SKAGEN Global A: Today’s mutual fund price: 1.00%, New mutual fund price: 1.10%, Change: 0.10%
- SKAGEN Kon-Tiki A: Today’s mutual fund price: 2.00%, New mutual fund price: 1.80%, Change: -0.20%
- SKAGEN m2: Today’s mutual fund price: 1.50%, New mutual fund price: 1.50%, Change: 0.00%
- SKAGEN Vekst A: Today’s mutual fund price: 1.00%, New mutual fund price: 1.10%, Change: 0.10%
- SKAGEN Select 100: Today’s mutual fund price: 1.50%, New mutual fund price: 1.80%, Change: 0.30%
- SKAGEN Select 80: Today’s mutual fund price: 1.25%, New mutual fund price: 1.55%, Change: 0.30%
Moving to new share classes:
Switching to a new share class entails changes in the mutual fund’s name, ISIN, mutual fund price and number of units. Unit holders will have similar market exposure, risk profile and market value.
The exchange will be carried out on 9 April 2025. It will take a few days for new inventory to be visible. The change does not result in any realisation for tax purposes, and you will not be out of the market during the exchange period. The existing share class will be closed to trading two working days before the move, and purchases must be made in the new share class.
If the fund customers want other funds, they can easily switch in the app and in the online bank.
SEB announces that they are introducing swing pricing into their mutual funds (SE ISIN). There is no need for shareholders to take any action in this regard.
The changes apply from 14 March 2025.
Background:
In order to ensure fair treatment of the mutual fund units and safeguard the mutual interests of the mutual fund units, an opportunity is being offered to adjust the mutual fund unit value in situations where large net flows result in greater transaction costs in the mutual funds. The method involves allocating transaction costs resulting from the redemption or subscription of mutual fund units to the investors who generated the costs. This protects existing mutual fund unit holders against the fund being charged costs that can be attributed to other unit holders’ sale or purchase of mutual fund units.
Further information can be found on the SEB Investment Management AB website
Applies to both Sbanken and DNB mutual fund customers.
East Capital has decided to merge East Capital Eastern Europe with East Capital New Europe on 31 March 2025.
- Transferring fund: East Capital Eastern Europe - Acquiring fund: East Capital New Europe
How the merger will take effect
There is no need for unit holders to take any action in this regard, the merger will take place automatically. The funds will be closed for trading on Wednesday 19 March 2025. New holdings in the new fund will soon be visible in the 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 trade, 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 holding is in a share savings account (ASK), neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK 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 the East Capital website.
Eika is cutting the payment of soft commission and unit holders can be moved to a new share class. The purpose of the new share class is to make it easier to see what is paid to whom when saving in mutual funds. The change will take place automatically. Existing savings schemes will be transferred to the new share class.
New price
The changes mainly mean that mutual fund prices will fall on the Eika mutual funds from 9 April 2025, but DNB’s mutual fund customers, for example, will have an annual additional cost of NOK 300 for an investment of NOK 100,000 in Eika Alpha. See the price summary below for more information:
- Eika Egenkapitalbevis: Today’s mutual fund price: 1.50%, New mutual fund price: 1.30%, Change: -0.20%
- Eika Global: Today’s mutual fund price: 1.50%, New mutual fund price: 1.30%, Change: -0.20%
- Eika Norden: Today’s mutual fund price: 1.50%, New mutual fund price: 1.40%, Change: -0.10%.
- Eika Norge: Today’s mutual fund price: 1.50%, New mutual fund price: 1.30%, Change: -0.20%
- Eika Spar: Today’s mutual fund price: 1.50%, New mutual fund price: 1.30%, Change: -0.20%
- Eika Alpha: Today’s mutual fund price: 2.50%, New mutual fund price: 2.80%, Change: 0.30%.
- Eika Rente+: Today’s mutual fund price: 0.40%, New mutual fund price0.60%, Change: 0.20%
- Eika Sparebank: Today’s mutual fund price: 0.15%, New mutual fund price0.35%, Change: 0.20%
For Sbanken mutual fund customers who have shares in Eika Alpha, there is a significant price increase since Eika has not yet established any new share class. When Eika stops paying soft commission, the total price for the mutual fund will go from 1.95% to 2.80%.
New share class
Switching to a new share class entails changes in the mutual fund’s name, ISIN, mutual fund price and number of units. Unit holders will have similar market exposure, risk profile and market value.
The mutual fund swaps will be carried out on 9 April 2025. It will take a few days for new inventory to be visible. The change does not result in any realisation for tax purposes, and they will not be out of the market during the exchange period. The existing share class will be closed to trading two working days before the move, and purchases must be made in the new share class.
If shareholders want other funds, they can easily make the switch in our savings solutions.
As a distributor of KLP mutual funds, we want unit holders to be aware that they can grant authorisation or participate in a meeting by signing up no later than 10 April 2025 (because of Easter).
Agenda:
- Opening of Manager Fond Ann-Elisabeth Tunli Moe. Election of chairman and minute keeper.
- Review of the annual report for the KLP funds.
- Information about the KLP funds at the Manager of Fond Ann-Elisabeth Tunli Moe and Department Manager Index-oriented Management Kristoffer Sundnes.
- Election of a member and a deputy member on the board and of three members to the election committee.
- Miscellaneous
If any shareholder wants to participate, you can send an email with authorisations/registrations to Claus.Brustad@klp.no with the following information:
Name, email, fund unit holder and holding (number of shares).
After clarification from the Financial Supervisory Authority of Norway, KLP wants us to change the share class of the mutual funds we distribute for them. The reason is that they are stopping payments of soft commission to distributors, which means that we do not receive any soft commission either to pass on to unit holders. When we switch share classes, it will be easier for unit holders to get an overview of what they are paying to whom for their saving in mutual funds. They will still be invested in the same mutual fund, but in a new share class.
The change will take place automatically, so unit holders don’t need to do anything. Savings schemes will continue in the new share class.
This applies to shareholders in the following mutual funds/share classes:
- NO0010272347 KLP FRN P
- NO0010272339 KLP Likviditet P
- NO0010861941 KLP Obligasjon 1 år Mer Samfunnsansvar P
- NO0010272354 KLP Obligasjon 1 år P
- NO0010272362 KLP Obligasjon 3 år P
- NO0010272370 KLP Obligasjon 5 år P
- NO0010861958 KLP Obligasjon Global Mer Samfunnsansvar P
- NO0010489347 KLP Obligasjon Global P
- NO0010604655 KLP Lang Horisont P
It will take a few days after the exchange before the new inventory is visible. Switching to a new share class entails changes in the mutual fund’s name, ISIN number, mutual fund price and number of units. There will still be the same market exposure, risk profile and market value.
The change does not result in any realisation for tax purposes, and you will not be out of the market during the exchange period. The existing share class will close to trading two working days before the move, and purchases must be made in the new share class from 1 April.
DNB Asset Management has changed its name to DNB Global Klima Factor, valid from 1 April 2025.
We would like to inform you that the DWS Group (DWS) has decided to wind up the equity fund DWS Invest Africa FC (LU0329759921).
How the liquidation will take place
Shareholders do not necessarily need to take any action in this regard. The fund was closed to trading on 10 April, and any savings schemes have now been terminated. The settlement amount will be transferred to the bank account as soon as possible after 16 May.
When the liquidation of all assets is completed, the fund will be re-opened for redemptions from 25 April 2025, until the cut-off time for the respective share classes in the fund on 13 May 2025. During this redemption period, all unit holders have the right to make their redemptions accordingly.
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
Storebrand Asset Management has decided to change the names of four of our mutual funds as a result of new guidelines from the European Securities and Markets Authority (ESMA). The guidelines apply to the use of ESG- or sustainability-related terms in fund names, and are designed to ensure that such terms are precise, fair and consistent with the funds’ actual investment strategy.
The change takes effect on 10 April.
The name changes involve no changes in the way the mutual funds are managed. The funds’ investment strategy, investment mandate and sustainability classification (SFDR), remain unchanged.
These are the new names:
- Storebrand Norge Fossilfri will become Storebrand Norge Horisont “Fossil-free” is removed due to ESMA requirements. The new name, “Horisont”, highlights the fund’s long-term investment perspective and the search for the best investments.
- Storebrand Global ESG will become Storebrand Global Optimised “ESG” is being removed due to ESMA requirements. The new name, “Optimised”, highlights the fund’s strategy to optimise sustainability ratings and risk-adjusted returns, while aiming for low tracking error measured against the fund’s benchmark index.
- Storebrand Global ESG Plus is becoming Storebrand Global Plus “ESG” is being removed due to ESMA requirements. The name is being simplified and adapted to an already established “Plus” concept in the Nordic market and ensures uniform name structure across markets.
- Storebrand Global ESG Plus Valutasikret is becoming Storebrand Global Plus Valutasikret “ESG” is being removed due to ESMA requirements. The fund is a feeder fund that invests in the master fund Storebrand Global ESG Plus, so the change in this fund will follow the same summary of intentions as above.
The mutual fund’s name is changing to Heimdal Norden Utbytte, effective from 22 August.
The fund will focus on the Nordic region and with dividend companies as the investment universe. The mutual fund’s mandate is being narrowed down from the fund being able to invest throughout the world to being able to invest 85% in the Nordic countries and 15% outside the Nordic region. The changes also involve a name change in order to better reflect the mutual fund’s investment profile.
We are informing unit holders that SEB Funds AB has decided to merge SEB Biotechnology (LU0118405827) with SEB Läkemedelsfond (SE0024788749) on 8 September 2025. The acquiring fund is a Luxembourg-registered fund, while the acquiring fund is a Swedish-registered fund, and the merger is approved by the supervisory authorities in both Luxembourg and Sweden.
How the merger will take effect
There is no need for shareholders to take any action in this regard. The mutual funds will be closed to trading on Thursday, September 4, 2025. The merger will be executed and new holdings will be visible in your fund account shortly after 8 September. The acquiring fund has an almost identical investment mandate, market value and the mutual fund price is also unchanged.
Any savings schemes will be transferred to the acquiring fund.
Potential tax consequences
Mergers do not cause any tax to be realised.
If you choose to sell or exchange the fund yourself, the ordinary tax rules apply. Realisation through sale or exchange will have tax consequences if the fund is placed in a mutual fund account. If the funds are placed in a share savings account, the exchange or sale will not lead to any realisation for tax purposes. Taxation only occurs when withdrawing from the share savings account when the withdrawal value exceeds the tax-free withdrawal amount.
If you want additional information about the actual merger or the acquiring fund, this can be found on SEB’s website.
For commercial reasons, COHO Partners Ltd has decided to wind up the mutual fund Candoris - Coho ESG US Large Cap Aeq. We’ll send shareholders a customer letter to inform them of the liquidation.
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 18 August 2025. The liquidation is thus underway and the shares of the fund were redeemed on 20 August 2025. The settlement amount will be transferred to the bank account as soon as possible.
If unit holders have the mutual fund invested in a share savings account, the amount will be transferred to the share savings account. If unit holders have the investment outside of a share savings account, the amount will paid into the bank account where it is held. Any savings schemes linked to the mutual fund will be stopped.
Potential tax consequences
This transaction will in principle cause a taxable realisation for retail investors where profits are taxable. Any losses will be deductible. If the holdings are in a share savings account, the realisation will not trigger a tax liability immediately. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK.
East Capital Asset Management S.A. has decided to make a disbursement of liquid assets from the equity fund, East Capital Russland. The mutual fund is still closed to trading due to the war in Ukraine.
There is no need for shareholders to take any action in this regard. If you have the fund invested in a share savings account, the amount will be transferred to the share savings account. However, if there it is held outside of a share savings account, the value will be paid out to the associated bank account.
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
Fund changes from 2024
We would like to inform you that Danske Invest Horisont Aksje and Danske Invest Horisont 80 will be merged with Nordea mutual funds on 6 December 2024.
The mutual funds are managed by Danske Invest Asset Management AS.
How the mergers will take effect
There is no need for shareholders to take any action in this regard. The mutual funds will be closed to trading on Thursday 21 November 2024. The mergers will be executed and the new holdings will soon be visible in the mutual fund account. Any savings schemes will be transferred to the acquiring funds.
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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.
Additional information from Danske Invest Asset Management can be found here
Transferring fund: Danske Invest Horisont Aksje (NO0010219058) Acquiring fund: Nordea Bærekraftige Aksjer Global Vekst (FI4000349428)
Transferring fund: Danske Invest Horisont 80 (NO0010621774) Acquiring fund: Nordea Plan Offensiv A Vekst (FI4000566070)
Applies to two share classes:
- Holberg Rurik A (NO0010073216) is being changed to Holberg Vekstmarkeder A
- Holberg Rurik D (NO0010752793) is being changed to Holberg Vekstmarkeder N
With effect from 1 November 2024, the name of Holberg Rurik is being changed to Holberg Vekstmarkeder. The reason for the name change is that Holberg wants to move away from the link between Rurik and Russia.
Change of manager for Holberg Vekstmarkeder
With effect from 1 November 2024, Harald Jeremiassen is Acquiring responsibility for the management of the fund.
Only applies to Sbanken mutual fund customers
We are informing shareholders that BlackRock Global Funds – Future Consumer Fund (LU2317271919) has been wound up, with effect from 22 October 2024. The liquidation of the fund is due to low capital supply, which makes further operations uneconomical.
The settlement is paid out to the share savings account if the mutual fund is held in a share savings account, or to the bank account if the fund in a mutual fund account. The liquidation only results in a realisation for tax purposes if the fund is held in a mutual fund account (outside a share savings account). If you have the fund in a savings scheme, it will be replaced with the fund (NO0010582984) DNB Global Indeks A. If unit holders want to switch to another mutual fund in the savings scheme or need help to reinvest the settlement, you can send an email to aksjehandel@sbanken.no
Applies to Sbanken mutual fund customers
We’re hereby informing shareholders that Morgan Stanley has decided to liquidate the Morgan Stanley Asian Property Fund (LU0078112413).
How the liquidation will take place
There is no need for shareholders to take any action in this regard. The fund will be closed to trading on 4 November. The fund is in liquidation and the shares in the fund were redeemed before 6 November. The liquidation settlement will be transferred in the middle of November.
Any savings schemes will continue in Morgan Stanley Global Property (LU0266114312). If unit holders would prefer another mutual fund in their savings scheme, the savings scheme can be changed in the app at any time.
If unit holders hold the mutual fund in their share savings account, the amount will be transferred to the share savings account. However, if there it is held outside of a share savings account, the value will be paid out to the associated bank account.
Potential tax consequences
In principle, the change results in a tax realisation. Profit is taxable, and losses will be deductible. Realisation through sale or exchange will have tax consequences if the fund is placed in a mutual fund account. If your mutual funds are placed in a share savings account, the exchange or sale will not lead to any realisation for tax purposes. Taxation only occurs when withdrawing from the share savings account when the withdrawal value exceeds the tax-free withdrawal amount.
Applies to Sbanken mutual fund customers
We are informing shareholders that Alfred Berg Kapitalforvaltning has decided that the fund Alfred Berg Obligasjon (NO0010089410) will be merged with Alfred Berg Obligasjon Acc R (SE0013877446) on 6 November.
How the merger will take effect
There is no need for unit holders to take any action in this regard, the merger will take place automatically. The funds will be closed to trading on Thursday, 31 October. New holdings in the new fund will be visible shortly. Any savings schemes will be transferred to the acquiring fund.
Potential tax consequences
The merger does not result in any realisation for tax purposes. If you choose to sell or exchange the fund yourself, the ordinary tax rules apply. Realisation through sale or exchange will have tax consequences if the fund is placed in a mutual fund account. If your mutual funds are placed in a share savings account, the exchange or sale will not lead to any realisation for tax purposes. Taxation only occurs when withdrawing from the share savings account when the withdrawal value exceeds the tax-free withdrawal amount.
We are hereby informing shareholders that equity funds from KLP are changing share class. From share class P (gross class) to N (net class).
It will be easier for unit holders to see what is paid to whom for saving in mutual funds. Unit holders will still be invested in the same mutual fund, but in a new share class. The change will take place automatically, so unit holders don’t need to do anything. Existing savings savings schemes will continue.
Background
After clarification from the Financial Supervisory Authority of Norway, KLP wants DNB and the Sbanken concept as distributor to change the equity funds’ share class.
New share class
Switching to a new share class entails changes in the mutual fund’s name, ISIN, mutual fund price and number of units. Unit holders will have the same market exposure, risk profile and market value.
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. The management fee is charged to the fund as before, and the platform fee is deducted from your bank account every quarter.
What do the price changes mean?
For Sbanken’s mutual fund customers: All equity funds from KLP get a lower price, with the exception of KLP AksjeNorge, whose price will increase by 0.05%.
For DNB mutual fund customers: The change results in a minor increase in the mutual fund cost for eight of the funds. For example, there will be an annual additional cost of NOK 20 for an investment of NOK 100,000 in KLP AksjeGlobal Indeks. For other mutual funds, the fund cost will be equal or lower than today.
Positive news for DNB mutual fund customers: 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
How the change will take place
For Sbanken’s mutual fund customers: The switchovers will take place on 30th October and 6th November. We’re switching share class in two batches. Firstly, we’re changing the share class of 2 to 4 mutual funds every day from 30 October until 6 November. We’re then changing the share class of 2 to 4 mutual funds from 6 November. The changes are visible on an ongoing basis in the app. The change does not result in any realisation for tax purposes, and you will not be out of the market during the exchange period. The existing share class will be closed to trading two working days before the move, and purchases must be made in the new share class.
For DNB mutual fund customers: The switchovers will take place on 30th October and 6th November. The change does not result in any realisation for tax purposes, and you will not be out of the market during the exchange period. The existing share class will be closed to trading two working days before the move, and purchases must be made in the new share class.
Morgan Stanley Investment Management has decided that Morgan Stanley European Property should be merged with Morgan Stanley Global Property (LU0266114312). Unfortunately, this is not a mutual fund that is distributed by DNB, and therefore the fund will be liquidated and shares will be redeemed in the middle of October.
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
The fund we’re distributing is changing names to Alfred Berg Norge Restricted C.
The fund has ISIN NO0012554684.
The change is valid from 7 October 2024.
We are hereby informing shareholders that BlackRock Asset Management has decided to wind up the BlackRock Global Impact D2 equity fund (IE00BL5H0Z73).
How the liquidation will take place
There is no need for shareholders to take any action in this regard. The mutual fund was closed to trading on 12 September, and any savings schemes have now been terminated. The fund is in liquidation and the shares in the fund were redeemed before 12 September, and the liquidation settlement will be transferred in the middle of September. 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 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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
Nordea Funds has decided to merge selected Nordea mutual funds on 20 September 2024. All mutual funds (NO ISIN) have been moved from Norway to Finland.
This affects the following mutual funds:
- Transferring NO0010392640 Nordea Aksje Verden – Acquiring FI4000349428 Nordea Sustainable Aksjer Global A vekst NOK
- Transferring NO0010325699 Nordea Avkastning – Acquiring FI4000566146 Nordea Avkastning A vekst NOK
- Transferring NO0010325715 Nordea Kapital – Acquiring FI4000391511 Nordea Norwegian Stars Funds I vekst NOK
- Transferring NO0010325756 Nordea Kort Obligasjon – Acquiring FI4000565866 Nordea Kort Bond A vekst NOK
- Transferring NO0010325731 Nordea Norge Verdi – Acquiring FI4000565973 Nordea Norge Verdi A vekst NOK
- Transferring NO0010358906 Nordea Plan Balansert – Acquiring FI4000566039 Nordea Plan Balansert A vekst NOK
- Transferring NO0010358666 Nordea Plan Konservativ NO – Acquiring FI4000565999 Nordea Plan Konservativ A vekst NOK
- Transferring NO0010358674 Nordea Plan Moderat – Acquiring FI4000566013 Nordea Plan Moderat A vekst NOK
- Transferring NO0010358922 Nordea Plan Offensiv – Acquiring FI4000566070 Nordea Plan Offensiv A vekst NOK
- Transferring NO0010593486 Nordea Plan Rente – Acquiring FI4000375035 Nordea Bærekraftige Obligasjoner Global A vekst NOK
- Transferring NO0010358914 Nordea Plan Vekstorientert – Acquiring FI4000566054 Nordea Plan Vekstorientientert A vekst NOK
- Transferring NO0010325863 Nordea Stabil Avkastning – Acquiring FI4000566039 Nordea Plan Balanced A vekst NOK
- Transferring NO0010452782 Nordea Stabile Aksjer Global Etisk – Acquiring FI4000565841 Nordea Stabile Aksjer Global A vekst NOK
How the merger will take effect
There is no need for unit holders to take any action in this regard, the merger will take place automatically. The mutual funds will be closed for trading on Monday, 16 September 2024. New holdings in the acquiring mutual fund will soon be visible in the mutual fund account. The acquiring mutual funds will have almost identical management and market exposure. The merger factor will be 1:1 and prices, the number of shares and fund prices will continue as before. Your mutual fund will receive a new fund name and ISIN number.
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 trade, 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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.
Further information about the mergers can be found on the Nordea website
How the liquidation will take place
There is no need for shareholders to take any action in this regard. The fund is in liquidation and the shares in the fund were redeemed on 4 September, and the liquidation settlement will be transferred in the middle of September. 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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
Additional information from FIRST mutual fund can be found here
From 27 August 2024, mutual funds from DNB Asset Management S.A (Luxembourg) and Fondsfinans will change share classes due to adjustments to the new pricing model. Unit holders will still be invested in the same mutual fund, but in a new share class. The change does not lead to any increase in mutual fund costs; it will either be equal or lower. (Due to our platform fee, however, the price of two bond funds from Fondsfinans will be higher. The few customers in question will receive a separate letter about this).
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.
Unit holders may notice that the mutual fund will get a new name, new ISIN, equal or lower price, different number of shares and a new fund price. Shareholders will have similar market exposure, risk profile and market value.
How the change will take place
The price date for a change of share class is 27 August 2024, but we would like to point out that it will no longer be possible to trade in the existing share class from Thursday 22 August. New subscriptions to this fund must be carried out in the new net share class.
Changes in share class do not result in any realisation for tax purposes, and you will not be out of the market during the switchover period. If unit holders 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.
About the new net share class
In the new net share class, the fund cost is divided 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. Platform fees are deducted quarterly from the bank account you have provided. 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 move affects unit holders in the following mutual funds:
- Fondsfinans Fornybar Energi (NO0010047202)
- Fondsfinans Global Helse (NO0010047194)
- Fondsfinans Norden A (NO0010741739)
- Fondsfinans Norge (NO0010165764)
- Fondsfinans Utbytte A (NO0010860349)
- Fondsfinans High Yield (NO0010710452)
- Fondsfinans Kreditt (NO0010676083)
- DNB Fund Asian Mid Cap Retail A (LU0067059799)
- DNB Fund Private Equity Retail B (LU0302296065)
- DNB Fund India Retail A (LU0302237721)
- DNB Fund TMT Long Short Equities Retail A NOK (LU0547714799)
- DNB Fund Disruptive Opportunities Retail A (LU2061961228)
This only applies to mutual funds that are distributed through Sbanken.
Swedbank AB has liquidated parts of the mutual fund Swedbank Rysslandsfond A and Swedbank Robur Östeuropafond A. The majority of the mutual funds have been sold and will be paid out to the unit holders. The share sold amounts to 90 per cent of the fund, while the remaining 10 per cent of the mutual fund units will be sold as soon as it is possible for the portfolio manager to sell them.
How the liquidation will take place
There is no need for unit holders to take any action in this regard. The final sales amount will be transferred to the share savings account. If shares are held outside a share savings account, the sales amount will be transferred to the current account associated with the mutual fund account.
The disbursement started on 31 July 2024 and will be visible within a few days. Unit holders get an overview of their new holdings in the app.
Potential tax consequences
In principle, the change results in a tax realisation. Profit is taxable, and losses will be deductible. Realisation through sale or exchange will have tax consequences if the fund is placed in a mutual fund account. If your mutual funds are placed in a share savings account, the exchange or sale will not lead to any realisation for tax purposes. Taxation does not take place until withdrawal from the share savings account when the withdrawal value exceeds the amount deposited in the account.
If you have any questions related to the liquidation, you can contact us by phone on 55 26 00 00.
This only applies to mutual funds that are distributed through Sbanken.
Invesco Funds has decided that the equity fund Invesco Japanese Equity Value Discovery Fund A (LU0607515367) should be merged with Invesco Japanese Equity Advantage Fund A (LU0607514717) on 9 August 2024.
Unit holders do not need to take any action in relation to the merger. When the merger is completed, unit holders will get an overview of the new holdings in their app when everything is ready.
Tax consequences
The merger does not result in any realisation for tax purposes.
If you choose to sell or exchange the fund yourself, the ordinary tax rules apply. Realisation through sale or exchange will have tax consequences if the fund is placed in a mutual fund account. If your mutual funds are placed in a share savings account, the exchange or sale will not lead to any realisation for tax purposes. Taxation does not take place until withdrawal from the share savings account when the withdrawal value exceeds the amount deposited in the account.
If you have any questions about the merger, you can contact us by phone on 55 26 00 00.
Information on proposed mergers for the following Norwegian-registered mutual funds distributed through DNB:
- Nordea Avkastning
- Nordea Kapital
- Nordea Norge Verdi
- Nordea Aksjer Verden
- Nordea Plan Offensiv
- Nordea Stabile Aksjer Global Etisk
Nordea Funds Ltd. welcomes you to the shareholder meeting on 2.9.2024 at 10:00 at the company’s offices at Essendropsgate 7, Majorstuen, Oslo.
DNB assists unit holders who wish to cast their vote or register for the physical shareholder meeting. Contact our Mutual Fund Centre at fond@dnb.no.
It is expected that the mergers will take place on 20 September 2024.
Required information, registration and voting slips can be found on the Nordea website.
The articles of association changes will enter into fore from 15 August 2024
ODIN has received approval from the Financial Supervisory Authority of Norway, dated 4 June 2024, and from the Financial Supervisory Authority of Norway, dated 18 June 2024, regarding the application for articles of association changes for several of ODIN's equity and fixed-income funds.
The articles of association changes include introducing swing pricing for the mutual funds ODIN Norge, ODIN Sverige, ODIN Norden, ODIN Global, ODIN USA, ODIN Emerging Markets, ODIN Bærekraft, ODIN Eiendom, ODIN Small Cap, ODIN Sustainable Corporate Bond, ODIN Likviditet, ODIN Norsk Obligasjon, ODIN Europeisk Obligasjon and ODIN Kreditt.
For the mutual funds where swing pricing is introduced, the access to charge subscription and redemption fees will be removed. ODIN does not charge such fees in practice.
The mutual fund is only distributed to Sbanken mutual fund customers.
We are hereby informing shareholders that the Morgan Stanley bond fund - Emerging Markets Domestic Debt Fund A (LU0283960077) will be merged with Morgan Stanley - Emerging Markets Local Income Fund. Sbanken does not offer the acquiring mutual fund, and the fund will be liquidated by us.
How the liquidation will take place
Morgan Stanley - Emerging Markets Domestic Debt Fund A will be closed for subscription and redeemed on 14 June. The shares in the fund will be automatically redeemed with a price date of 12 June. Any savings schemes will be continued in DNB Likviditet A. If unit holders would prefer another fund in their savings scheme, they can change the savings scheme in the app at any time.
Potential tax consequences
In principle, the change results in a tax realisation. Profit is taxable, and losses will be deductible.
If you have any questions related to the liquidation process, you can contact us by telephone on 55 26 00 00.
We would like to inform you that the Nordea Asian Stars equity fund (FI0008813282) will be merged with Nordea 1 – Asian Stars Equity Fund (LU2794645676) on 26 June 2024.
The mutual funds are managed by Nordea Asset Management.
How the merger will take effect
There is no need for shareholders to take any action in this regard. The fund will be closed to trading on Thursday 21 June 2024. The merger will be executed and your new holdings will soon be visible 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 trade, 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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.
Further information from Nordea Asset Management can be found here
Swing pricing on our Norwegian-registered interest rate funds is introduced on 3 June
With the exception of DNB Low Carbon Credit.
The following changes to several of our Luxembourg registered funds enter into force on 5 June:
Introduction of swing pricing for all funds
Name change for DNB Fund High Yield: The mutual fund is changing its name to DNB Fund Nordic High Yield. The investment strategy is the same.
Changes in reference indices:
- DNB Fund Future Waves will replace MSCI World Index with a new reference index MSCI ACWI Sustainable Impact Index, which better reflects the fund’s focus on investing in line with the UN’s sustainability goals.
- DNB Fund Nordic High Yield replaces a complex reference index (NBP Norwegian High Yield Index (Hedged) + NBP Norwegian Government Duration 1 Index NOK (Hedged) with a reference index that covers the Nordic high yield universe, NBP Nordic HY Aggregated Index.
Changes in SFDR classifications: The following funds will go from the SFDR classification article 6 to the now being regulated under SFDR article 8:
- DNB Fund Asian Mid Cap
- DNB Fund High Yield
- DNB Fund India
- DNB Fund Nordic Flexible Bonds
- DNB Fund Nordic Small Cap
Changes in sustainability properties of selected funds:
- DNB Brighter Future will have a goal to have at least 10% of sustainable investments in the portfolio.
- The following funds remove the requirement that the fund should have a higher ESG score than the reference index: DNB Fund Health Care, DNB Fund Low Volatility Equities, DNB Fund Nordic Equities, DNB Fund TMT Long Short Equities and DNB Fund Technology.
KLP is pleased to invite shareholders in the KLP funds to an election meeting on Wednesday, 24 April at 14:00 in KLP’s premises at Dronning Eufemias gate 10.
Agenda:
1. Opening of Manager Fond Ann-Elisabeth Tunli Moe. Election of chairman and minute keeper.
2. Review of the annual report for the KLP funds.
3. Information about the KLP funds at the Manager of Fond Ann-Elisabeth Tunli Moe and Department Manager Index-oriented Management Kristoffer Sundnes.
4. Election of a member of the Board of Directors of KLP Capital Management AS.
5. Possibly.
Power of attorney/subscription can be sent to fond@dnb.no by 17 April or done directly at KLP.
Information about temporary suspension of redemption claims in funds managed by Danske Invest Asset Management AS
We distribute five Norwegian registered funds from Danske Invest which are affected by this suspension.
The funds will be closed to trading in week 23 due to technical operational moving between two shareholder systems.
The suspension means that the net share value (NAV) will not be published and the redemption claim will not be paid during this period. The administrative part will be closed (drawing, redemption and exchange of shares) to 10 June at the latest. 00.00. This has no impact on the management of the funds.
This measure has been taken to protect you as an investor and ensure the correct liquidation and settlement of the transactions.
The following funds are affected:
- Danske Invest Horisont 80 NO – Suspended: Closed on 3 June Number of days: 4 days
- Danske Invest Horisont Aksje – Suspended: Closed on 3 June Number of days: 4 days
- Danske Invest Norge I – Suspended: Closed on 5 June Number of days: 2 days
- Danske Invest Norge II – Suspended: Closed on 5 June Number of days: 2 days
- Danske Invest Norge Vekst – Suspended: Closed on 5 June Number of days: 2 days
Further information can be found on Danske Invest’s own website
We are informing shareholders that the BNP-Nath American equity fund will be merged with BNP Brazil on 7 June 2024. The funds are managed by BNP Paribas Asset Management, and the following share classes are affected:
- Transferor: BNP Paribas Latin America Eq Taking over: BNP Paribas Brazil Equity
- Transferor: BNP Paribas Latin America Eq P Taking over: BNP Paribas Brazil Equity P
How the merger will take effect
There is no need for shareholders to take any action in this regard. The fund will be closed to trading on Thursday, 29 May 2024. The merger will be executed and your new holdings will be visible in your fund account shortly. 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 trade, 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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.
Additional information from BNP Paribas can be found here
If you have any questions related to this, please contact us at the email address fond@dnb.no or by phone at 22474000.
The main points of the proposed Articles of Association changes:
The purpose of the Articles of Association changes is to introduce fluctuation pricing into the funds. Swing pricing is a mechanism that ensures that the shareholder who triggers the need to buy and sell securities in the fund, for example through larger subscriptions or redemptions, is also the one charged with the transaction costs. ODIN introduces fluctuation pricing to ensure that the fund’s existing shareholders are not charged the costs resulting from subscriptions and redemptions made by other shareholders.
The Financial Supervisory Authority must agree to amendments to the articles of association after the shareholders have voted for them. Thus, the articles of association changes will not take effect until after they have been approved by the Financial Supervisory Authority of Norway.
ODIN The Management plan is that the proposed changes can take effect by August 2024. However, the exact time will depend on the Financial Supervisory Authority’s processing time.
We are informing shareholders that on 24 May 2024, holdings in funds from Landkreditt will exchange share classes. Shareholders will still be invested in the same fund, but will go from a gross share class to a net share class. The change does not lead to any increase in fund costs; it is either equal or lower. 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.
New net share class
In the new net share class, the fund cost is divided 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. Platform fees are deducted quarterly from the bank account provided. 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 (share class) will get a new name, new ISIN, equal or lower price, different number of shares and a new fund price. Market exposure, risk profile and market value will be the same.
The replacement process
The price date for a change of share class is 24 April 2024, but we would like to point out that it will no longer be possible to trade in the existing share class from Friday 19 April. New subscriptions to this fund must be carried out in the new net share class.
A change in share class does not entail any tax realisation, and no one will be out of the market during the substitution period. If you do not want a new share class, you can either exchange funds or sell your shares. Remember changing mutual funds and selling shares can have tax consequences.
We would like to inform you that the BlackRock Emerging Europe A2 EUR (ISIN: LU0011850392) fund will be split (fissed) into two mutual funds on May 13, 2024. The fund has been closed to trading since February 28, 2022 due to Russia’s invasion of Ukraine.
The fund’s liquid assets will be split into a new fund and will be re-opened to trading. The demerger ratio is 1:1 and the new fund’s temporary name is BlackRock Emerging Europe A2 EUR (ISIN LU2719174067). The new fund will change the mandate and name on 17 June 2024 to BlackRock Emerging Markets ex. China Fund The remaining illiquid funds will remain closed to trading, as they only consist of illiquid Russian share.
What does this mean for shareholders?
There is no need for shareholders to take any action in this regard. If they wish to continue the savings agreement in the new fund, this agreement must be re-established.
Potential tax consequences
demergers do not entail any tax realisation, but if you choose to trade, 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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.
DNB wants it to be easy to choose good quality mutual funds. We therefore offer a broad and competitive range of funds within different geographical areas, industries and sectors. The selection is evaluated annually based on feedback from customers, 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.
The following mutual funds will no longer be available for trading on DNB’s trading platforms, and will be liquidated by us:
- Abrdn Asia Pacific Aeq A
- Abrdn Japanese SME Sustainable Aeq A
- Abrdn Japanese Sustainable Aeq A
- Abrdn Nathyl American Aeq A
- Allianz US Aeq fund WP USD
- The JPM Europe Strategic Value
- JPM US smaller companies A
- Norse Trend Global
- Schroder ISF Emerging Markets A Inc.
- Templeton Frontier Markets Fund
What should shareholders do?
As of 14 May 2024, 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 fund or carry out a fund change to another fund that we offer. If no action takes place before 14 May, all shares in the above-mentioned funds will be automatically redeemed by us as soon as possible from the price date 21 May 2024. Final redemption amounts will be transferred to the Share savings account. If there are shares outside the share savings account, the shares will be reinvested to DNB Liquidity A. We would like to point out that current savings agreements in these funds are also closed. If a new savings agreement is desired, it must be established again in the selected fund.
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
We are informing shareholders that the Delphi Europe N equity fund (NO0010817190) will be merged with Delphi Global N (NO0010817372) on 22 April 2024.
How the merger will take effect
There is no need for shareholders to take any action in this regard. The fund will be closed to trading on Monday, 15 April 2024. The merger will be carried out and the new holdings will be visible in the shareholder’s fund account shortly.
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 trade, 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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK 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 Storebrand’s website:
https://www.storebrand.com/sam/no/asset-management/legal/announcements/kunngjoringer
The Articles of association changes in Landkreditt Høyrente, Landkreditt Extra, Landkreditt Yield, Landkreditt Norden Norden Utbytte and Landkreditt Aksje Global were implemented on April 4, 2024.
The statutory changes mean that the Landkredittfonde introduces fluctuation pricing as a «expansion mechanism» in the funds upon subscription and redemption so that existing shareholders are not affected by shareholders who subscribe or redeem shares in the funds.
Additional information can be found on the Landkreditt website.
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:
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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. 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
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
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 1600. 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.
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. 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.
Holberg Fondsforvaltning AS notifies that Holberg Credit closes off subscriptions from and including 19 January 2024. The fund is open to redemptions.
Please note that shareholders do not need to take any action in this regard.
The reason why the fund is closed is that it has reached its maximum managed capital. If the management volume of mutual funds becomes too large, it can become challenging to manage an actively managed fund in line with the fund’s management philosophy. The fund is closed solely to protect existing shareholders to ensure the best possible future management of the fund. Risk and investment strategy in the fund remain unchanged
Any savings agreements that shareholders have in the fund have been liquidated.
Mutual fund changes from 2023
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.
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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. 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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. 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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
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)
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.
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.
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. 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:
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
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. 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 feedback from customers, and demand. We have now conducted an annual review of the mutual funds distributed by DNB, and some of these mutual funds will no longer be available on our trading platforms due to little 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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. 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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. 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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. 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).
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.
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.
DNB Fund Norway Investment Grade is a bond fund established under DNB Asset Management S.A., which is the DNB group’s mutual fund management company in Luxembourg. The liquidation of the mutual fund has been decided by the company’s board of directors. The mutual funds are distributed throughout the bank, but the mutual fund is not a fund that is qualified under the DNB Share savings account.
The following three share classes are covered by the liquidation:
- DNB Fund Norway Investment Grade Institutional A NOK (ISIN: LU1954217730)
- DNB Fund Norway Investment Grade Retail A II NOK (ISIN: LU1954216765)
- DNB Fund Norway Investment Grade Retail A NOK (ISIN: LU1954216682)
How the liquidation will take place
The management company aims to liquidate the fund on 10 January 2023 and all shareholders will receive the same redemption price. The redemption amount will be placed in the DNB Liquidity A fund as soon as we have received settlements from the fund management company in Luxembourg.
Alternative fund placements
If unit holders still want to be invested in a fund with the same investment strategy, we recommend the DNB Bond fund, which is a Norwegian registered fund. This means that the return is taxed annually. If unit still want to be invested in a Luxembourg registered fund, we recommend DNB Fund Nordic Investment Grade, which invests in fixed-income securities with a similar credit risk, but within a Nordic investment scope.
Mutual fund changes from 2022
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. 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.
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.
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 upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. 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.
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 is becoming an impact fund and will change 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 taken place and unit holders do not need to do anything. 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 appointed Eivind Aukrust as manager of index-linked strategies. Aukrust comes from the position of portfolio manager in the Oil Fund.
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 this adjustment will not have any consequences for the actual management of the 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 balance that will accrue to the unit holders who owned units at the time of liquidation.
For unit holders who had their holdings in a DNB share savings account, the amount will be credited to their share savings account. For any holdings outside of the share savings account, customers will be assigned new shares in the money market fund, DNB Likviditet 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, the swing pricing was baked into the mutual fund’s price, but after converting to a Swedish directly invested master fund, the transaction costs for swing pricing are spun off as a separate cost component and are not included in the fund price. This cost for customers goes to the fund and not to the management company or distributor. Swing pricing is used to prevent the dilution of existing unit holders from 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
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 letters:
- 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
With the introduction of share classes, some mutual funds will be merged. This will simplify the fund structure and streamline management and administration of the funds. This applies to funds with similar investment mandates, but with different minimum subscription and management fee limits.
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 mutual funds will be switched at a 1:1 ratio, which only means that the funds will get a new name and ISIN number. The change applied from 1 April 2022. Both the fund price in Swedish kroner (SEK) and the number of shares in the acquiring fund have been transferred.
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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK account is closed. For corporate investors, any profit/loss may be covered by the tax exemption model.
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. This includes the following 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.
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 days of closure are to protect investors. With the switch of custodian bank, for a period of time it will not be possible for the portfolio managers to make trades in investments and cash until they are transferred to a new custodian bank. Trading will be closed to ensure that investors do 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. 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 you have in the DNB share savings account. If you have any shares outside of a DNB share savings account, the shares will be reinvested into DNB Likviditet 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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised 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 mutual funds with significant exposure to Russia with immediate effect. This applies to a total of 14 external, international mutual funds which until today have been available as DNB purchase options.
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 resulting from Russia’s invasion of Ukraine means that it is currently impossible to buy and sell securities in Russia. The Moscow Stock Exchange is closed, and the Russian central bank has implemented capital controls, which makes it difficult to exchange from Russian roubles to western currencies.
Due to the unpredictable situation, the producers of these funds have temporarily stopped the ability to redeem shares. In time, DNB will assist customers who want to sell shares in the affected mutual funds, but in the current situation, 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 wish to offer all customers a broad and competitive mutual fund selection within different geographical areas, industries and sectors. The selection is evaluated annually based on feedback from customers, and demand. We have now conducted an annual review of the mutual funds distributed by DNB, and some of these mutual funds will no longer be available on our trading platforms due to little 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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK 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.
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 therefore does not result in any changes to the management of the mutual funds, or to the funds’ risk or expected return. The management costs for the individual unit holder remain unchanged. The changes will not have any tax consequences for unit holders. As a unit holder, the change will be noticed in that the name of the mutual fund unit will be amended slightly. Some people will also find that the mutual fund has been given a new registration number.
A unit holder meeting will be held on 17.02.2022 at 14:00.
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.
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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK 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.
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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK 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
We hereby inform you that the equity fund Fidelity Japan Smaller Companies (LU0048587603) merged with Fidelity Sustainable Japan (LU0048585144) on 17 January 2022.
The mutual funds are managed by Fidelity Funds.
How the merger will take effect
You 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 until we close trading in the mutual fund on Monday 10 January 2022 at 15. After that, the shares will be locked until the merger is completed and you see your new holdings in the acquiring fund in your mutual 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 holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK account is closed. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
Read more about the merger in the letter from Fidelity (PDF, Norwegian)
See the key information about the acquiring mutual fund (PDF, English)
Mutual fund changes from 2021
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 mutual 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 mutual fund’s management cost (0.75 per cent) to the mutual fund’s management company and a platform fee (0.30 per cent) to the distributor of the mutual fund. The platform fee is calculated annually and debited quarterly from 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 non-professional customer switches mutual funds or sells shares, the transaction will create a taxable transaction where profits are taxed, and losses will be deductible. If the holding is in a share savings account (ASK) neither a switch nor a sale will trigger a tax obligation. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. Deductions for losses within an ASK are only realised when the ASK account is closed. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
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.
Summary of intentions from Danske:
The equity fund Danske Invest Norge Vekst is a success story and has delivered a very good return over a long period of time to its unit holders. This has also meant that the total assets have seen strong growth. The total assets that this mutual fund now has means that they are now in danger of becoming too large an investor in some of the companies they have invested in. If Danske does not take action in relation to the mutual fund size, there is a risk that it will not be possible to implement the investment strategy in the optimal way, which could reduce the mutual fund’s returns. This is not in the existing unit holders’ interests.
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 mutual 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 mutual 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: A change in the prospectus with the intention of clarifying the current geographical goal of the mutual fund’s investments in shares. The mutual 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 mutual fund promotes ESG. To achieve compliance with article 8 of SFDR, it was necessary to make some reallocations and adjustments to the portfolio. It is also not possible 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
This includes the following 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 realisation of tax. Unit holders who do not wish to own shares in the acquiring fund must redeem in the ordinary way.
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 is related to the expansion of market places for shares. 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.
Previous manager: Mads Andreassen
New Manager: Christian Preben Bang
The subfund’s mandate is unchanged and we will still invest in large and liquid companies within the global healthcare sector.
Change from 31.12.2021
Previous news
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 will invest globally in companies who are involved in solving 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.
The fee is changed from 1.75 per cent to 1.50 per cent and the change applies from 15.03.2021. The change applies to ISIN NO0008000577.
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. Unit holders therefore do not need to do anything about this.
Aberdeen announces name change to Abrdn.
Storebrand Asset Management has decided to postpone the introduction of swing pricing on its mutual funds. This also affects the mutual 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.
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 realisation of tax.
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 holding is in an Share savings account the realisation will not be triggered immediately. Taxation only occurs upon withdrawals from an ASK when the withdrawal value exceeds the deposited amount (total cost price) in the ASK. For corporate investors, any profit/loss is assumed to be covered by the tax exemption model.
Two of our DNB Luxembourg mutual funds are changing their annual management fee from 1 July 2021:
- DNB Fund Asian Mid Cap Retail A is being reduced from 1.75 % to 1.50 %
- DNB Fund Private Eq retail B is being reduced from 1.75 % to 1.40 %