Notice of overall changes in SEB High Yield umbrella
SEB Investment Management AB has decided to make changes in SEB High Yield umbrella as of 30 December 2022. Unitholders are not required to act due to these changes but should be familiar with them. If unitholders do not wish to continue investing in the sub-fund(s) they may redeem their units free of charge by 28 December 2022 at 14.00.
SEB High Yield Fund umbrella sub-funds:
- SEB Global High Yield Fund UC (LU1791749010)
- SEB Global High Yield Fund C (LU0456547701)
Overall changes what will be made to the High Yield umbrella:
Clarification will be made concerning ancillary assets: Following a recent FAQ by the financial authority in Luxembourg, the amount of cash any sub-fund may hold will be limited to 20%. Although the management company already had this as an internal limit, it will now be clarified in the general part of the prospectus. The wording concerning other liquid assets that are held on an ancillary basis will also be clarified.
New requirement will be added for UCITS funds relating to covered bonds: As a result of Directive (EU) 2019/2162 being implemented in Luxembourg Law, prospectus will be updated to reflect this regulatory change and to define the meaning of “covered bond” as per the requirement of the directive.
New Annexes related to SFDR will be added: As part of the implementation of Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR), all sub-funds will have their sustainability related disclosures located in an Annex at the end of the prospectus.
Sustainability risks will be further clarified: The sustainability approach in the general part of the prospectus will be amended to further highlight sustainability risks.
Detailed information is available and upon request at the registered office of the Management Company. Key investor information documents and prospectuses are available on www.sebgroup.lu/funds .
