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FUNDS ANNOUNCEMENTS - 2017 12 06 - 09:10

Changes in SEB High Yield – SEB High Yield Fund

We plan to make changes in SEB High Yield Fund. These changes, described below, will take effect as of 12th December, 2017.

You are not required to take action due to these changes.

List of the changes:

Investment objective

The sub fund's investment objective will be changed to generate long-term growth while considering specific sustainability criteria. Previously the sub fund aimed to generate total return.

Sustainability criteria

The sub fund will follow specific sustainability criteria. In addition to SEB's basic sustainability principles described in section 3 "Investment Objective and Policy" of the part 1 of the prospectus, the sub fund will employ both negative and positive screening. The positive screening aims to identify sustainable companies, where environmental, social and governance ("ESG") factors are evaluated before investments are made. The sub fund focuses on investing in companies that enable it to maintain a high average ESG score in the portfolio and to avoid companies with the lowest ESG scores. Negative screening means the sub fund will not invest in companies that:

  1. Produce or sell controversial weapons or which breach international conventions regarding weapons such as cluster bombs, landmines, chemical and biological weapons.
  2. Participate in the development of nuclear weapon programmes or produce nuclear weapons.
  3. Have verifiably breached international norms regarding labour legislation, anticorruption, the environment or human rights.
  4. Have more than five percent of their turnover derived from the production of alcoholic beverages, tobacco, the production and/or active distribution of pornography, the production and/or sales of weapons or from commercial gambling.
  5. Are involved in coal, gas, and/or oil exploration and extraction.

Name change

The sub fund's name will change to SEB Sustainable High Yield Fund to reflect the above mentioned investment strategy.

Change of risk calculation method

The sub fund will change its risk calculation method from Value at Risk (VaR) to the commitment approach. We decided to make this change because we regard the commitment method to be better suited to calculating the sub fund's global exposure.

Updated product documentation, including SEB High Yield's prospectus dated December 2017, will be available on seb.lv in under relevant funds documentation and on Funds management companies web page sebgroup.lu.

Contacts

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