Regular terms for the subscription, conversion and redemption of SEB fund units are provided in the Table below.
- Latvian banking day – a day when the banks and the payment brokers involved in the performance of payment transactions (normally The Bank of Latvia) are fully open for interbank settlements in Latvia. Generally, a banking day is each calendar day which is not a Saturday, Sunday, national holiday, or state holiday in the Republic of Latvia; however, depending on the circumstances of the payment transaction, other days may be excluded from banking days.
- Fund banking day (in the fund’s offer documents registered in Luxembourg and Sweden, usually named Bank Business Day) – each calendar day, except for Saturdays, Sundays, 24 December, and national or state holidays according to the place of registration of the fund either in the Grand Duchy of Luxembourg or in the Kingdom of Sweden. Based on the offer documents of the respective fund, the management company has the right to exclude some other calendar days from the Luxembourg or Sweden banking days for a particular fund – for example when trading has been stopped on a securities market associated with a significant part of instruments belonging to the particular fund’s assets. Information on days not considered banking days in Luxembourg or Sweden is published on the SEB website and on the management company’s website at www.sebgroup.lu or www.seb.se. Such days can lengthen the transaction cycle both in terms of the purchase and sales transactions of relevant funds as well as switch transactions.
- The trade price is published on the website of SEB Banka on the next working day immediately following the trade date (T+1).
The unit holder has the right to switch their fund units to other fund units publicly offered in Latvia by SEB Banka, except if the relevant fund offer documents establish a unit switch prohibition or other limitation that does not allow switching units. When switching the source fund units, the number of acquired target fund units depends on the relevant redemption and issue prices of fund units. Upon a switch, the switch exchange rate of the units of the source and target funds is determined by the fund with the later trade date for each fund from the calculated net asset value.
More detailed information on the terms of fund activity is provided in the relevant fund key investor information document, the fund prospectus, annual and semi-annual reports, and fund incorporation documents. Fund documents are available for information on the bank’s website. Should any further information be needed, please contact SEB Banka or a customer executive at a unit of SEB Banka.
