dedoc/paragraph_dataset huggingface dataset:
Communication Optimal Private Stream Search 13
is that if the user already knows a subset of the documents fi that are going to match the query,
he can compute a buﬀer B for the documents he knows in the exact same way as the server and
“remove” this buﬀer from the reply he gets from the server.
This is the idea of set reconciliation: two users A and B know two sets SA and SB and want
to learn the elements the other user knows with the minimal amount of communication. Classical
results from set reconciliation show that the amount of communication required is only |S |+|S |− A B
2|SA ∩ S |. B
The same optimal result can be obtained with our construction: if m documents match the
query, but the user already knows ′ m of these documents, a buﬀer of size ′ m−m is (asymptotically)
enough. This way, if a user repeats the same search every day (for example, to monitor changes
to a database), the amount of communication required can be reduced even further by keeping a
cache of the previous search results.
5 Conclusion
We presented two new private stream search constructions allowing minimal communication from
the server to the user. Using Paillier’s cryptosystem, compared to a standard non-private search,
the response from the server in our schemes only suﬀers a factor 2 expansion. Using the Damg̊ard-
Jurik extension, this expansion factor can be made as close to one as required when the document
size tends to inﬁnity. Also, our Reed-Solomon based construction allows zero-error rate, meaning
the user is guaranteed to get the documents he expects (or, if he chose m too small, he will know
he missed some documents). This comes at a cost on the server side, but can be a very important
feature for some applications.
The improvements we presented here do not solve all the problems of private stream search: the
computational cost on the server side is still much more than for a regular search, and the size of
the query the user has to send is also a problem. Still, our LDPC scheme oﬀers better performances
than all the previous private stream search constructions, without any additional computations.
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tree evaluation. In SODA, pages 364–373, 1998.
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14 Matthieu Finiasz and Kannan Ramchandran
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304, June 1960.
SEB SICAV 2
with its current Sub-Funds
SEB Asia Small Caps ex. Japan Fund
SEB Credit Multi Strategy
SEB Eastern Europe Small Cap Fund
SEB Europe Chance/Risk Fund
SEB Listed Private Equity Fund
SEB Nordic Small Cap Fund
Undertaking for Collective Investment in Transferable Securities under the Luxembourg
law of 17 December 2010 on Undertaking for Collective Investment
It is not permitted to supply information or explanation that differs from the Prospectus or the Articles of
Incorporation.
Neither the board of directors of SEB SICAV 2 nor the Management Company, SEB Asset Management S.A.,
are liable if and to the extent that such divergent information or explanations are supplied.
Statements made in this Prospectus are based on the law and practice currently in force in the Grand Duchy of
Luxembourg and are subject to changes in those laws or practices.
The distribution of the Prospectus and the offering of the Sub-Funds and their Share Classes may be restricted
in certain jurisdictions. It is the responsibility of any persons in possession of this Prospectus and any persons
wishing to subscribe to Shares pursuant to this Prospectus to inform themselves of, and to observe all
applicable laws and regulations of any relevant jurisdictions. Prospective investors should inform themselves as
to the legal requirements and consequences of applying for, holding, converting and disposing of Shares and
any applicable exchange control regulations and taxes in the countries of their respective citizenship,
residence or domicile.
This Prospectus does not constitute an offer or solicitation to subscribe to the Shares by anyone in any
country in which such offer or solicitation is unlawful or unauthorized, or to any person to whom it is
unlawful to make such offer or solicitation.
The distribution of this Prospectus in certain countries may require it to be translated into languages specified
by the regulatory authorities of those countries. Should any inconsistency arise between the translated and the
English versions of this Prospectus, the English version shall always prevail.
The following summary is qualified in its entirety by reference to the more detailed information included
elsewhere in this Prospectus.
Articles of Incorporation the articles of incorporation of SEB SICAV 2
Base Currency the currency of denomination of the different Sub-Funds as
defined under each Sub-Fund in part II “The Sub-Funds” of the
Board of Directors The board of directors of the Fund
Central Administration Skandinaviska Enskilda Banken S.A.
Class / Share Class the Fund may decide to issue, within each Sub-Fund, separate
classes of Shares whose assets will be commonly invested but
where a specific entry or exit charge structure, minimum
investment amount, distribution policy or any other feature
may be applied
Collateral Policy The collateral policy for OTC derivatives & efficient portfolio
management techniques for SEB Asset Management S.A.
Consolidation Currency the consolidation currency of the Fund being the U.S. dollar
Commission CSSF the Luxembourg Financial Supervisory Authority ”
de Surveillance du Secteur Financier”
Custodian Bank Skandinaviska Enskilda Banken S.A.
Directive 2009/65/EC Directive 2009/65/EC of the European Parliament and of the
Council of 13 July 2009 on the coordination of laws, regulations
and administrative provisions relating to undertakings for
collective investment in transferable securities
EU European Union
ESMA European Securities and Markets Authority, previously the
Committee of European Securities Regulators
FATF Financial Action Task Force
Fund SEB SICAV 2 is organised under the Law as an investment
company with variable capital which comprises several Sub-
SICAV – Société d’Investissement à Capital Variable à Funds (
compartiments multiples)
KIID key investor information document(s) of the Class
Law The Luxembourg law of 17 December 2010 on undertakings for
collective investment
Management Company SEB Asset Management S.A.
Member State A member state of the EU. The states that are contracting
parties to the Agreement creating the European Economic Area
other than the Member States of the EU, within the limits set
forth by this Agreement and related acts, are considered as
equivalent to Member States of the EU
Mémorial C Luxembourg official gazette, Mémorial C, Recueil des Sociétés
et Associations
NAV - Net Asset Value per Share the value per Share of any Class determined in accordance with
the relevant provisions described in this Prospectus and the
OECD Organisation for Economic Co-operation and Development
Prospectus the currently applicable prospectus of the Fund, as amended
and updated from time to time
Reference Currency the currency of denomination of the relevant Class in the Sub-
Share Share of any Sub-Fund
Shareholders Holder of Shares in any Sub-Fund
Sub-Fund a separate portfolio of assets established for one or more Share
Classes of the Fund which is invested in accordance with a
specific investment objective.
The Sub-Funds are distinguished mainly by their specific
investment policy, their Base Currency and/or any other
specific feature. The particulars of each Sub-Fund are
described in part II “The Sub-Funds” of this Prospectus.
The Board of Directors may, at any time, decide on the creation
of further Sub-Funds and in such case, the part II of this
Prospectus will be updated. Each Sub-Fund may have one or
more Classes.
UCI Undertaking for collective investment
UCITS Undertaking for collective investment in transferable securities
subject to Directive 2009/65/EC, as further defined in article 2
(2) of the Law
Value at Risk or VaR The Value at Risk methodology provides an estimate of the
maximum potential loss over a specific time period and at a
given confidence level, i.e. probability level. Usually for UCITS,
the time period is 1 month/20 business days and the
confidence level is 99%.
For example, a VaR estimate of 3% on a 20-days’ time period
with a 99% confidence level means that, with 99% certainty,
the percentage the Sub-Fund can expect to lose over the next
20 days’ period should be maximum 3%.
Valuation Day The day on which the NAV per Share is determined or
calculated. This day is defined as any bank business day in
Luxembourg except 24 December and 31 December (“Bank
Business Day”)
TABLE OF CONTENTS
DESCRIPTION OF INVOLVED PARTIES 2.2. .................................................................................................................................10
ELIGIBLE ASSETS 3.1. .................................................................................................................................................................12
INVESTMENT RESTRICTIONS APPLICABLE TO ELIGIBLE ASSETS...........................................................................................15 3.2.
UNAUTHORIZED INVESTMENTS 3.3. ......................................................................................................................................... 20
EFFICIENT PORTFOLIO MANAGEMENT TECHNIQUES.......................................................................................................... 3.4. 20
COLLATERAL MANAGEMENT 3.5. ...............................................................................................................................................21
GENERAL INFORMATION 4.1. .....................................................................................................................................................21
RISK FACTORS 4.2. ....................................................................................................................................................................21
DURATION AND LIQUIDATION OF THE FUND 9.1. .....................................................................................................................35
DURATION AND LIQUIDATION OF A SUB-FUND 9.2. .................................................................................................................35
TAXATION OF THE FUND 10.1. ................................................................................................................................................. 36
TAXATION OF THE SHAREHOLDERS 10.2. .................................................................................................................................37
THE SUB-FUNDS....................................................................................................................................................................41 II.
MANAGEMENT FEE 7.1 .............................................................................................................................................................. 48
PERFORMANCE FEE............................................................................................................................................................. 7.2 48
ASIA SMALL CAPS EX. JAPAN FUND SEB ...................................................................................................................................37
CREDIT MULTI STRATEGY SEB .............................................................................................................................................37
EASTERN EUROPE SMALL CAP FUND.......................................................................................................................... SEB 40
EUROPE CHANCE/RISK FUND..................................................................................................................................... SEB 43
LISTED PRIVATE EQUITY FUND SEB ................................................................................................................................... 46
NORDIC SMALL CAP FUND SEB ......................................................................................................................................... 49
I. The Fund
1. General information
SEB SICAV 2 is a Luxembourg open-ended investment company with variable share capital governed by Part I
of the Law and of by the law of August 10, 1915 on commercial companies, as amended.
The Fund was incorporated on August 8, 1989 for an unlimited duration as a public limited company (“société
anonyme”).
The Articles of Incorporation were published in the Mémorial C, Recueil Spécial des Sociétés et Associations
(hereafter “Mémorial C”) on October 5, 1989. The articles were amended several times and the last
amendment took place on 29 December 2011 and published in the Mémorial C on 23 January 2012.
The Fund is registered at the Luxembourg Register of Commerce under the number B 31.136, with its
registered office located at 4, rue Peternelchen, L-2370 Howald, Grand Duchy of Luxembourg.
The last version of the articles relating to the issue of the Fund’s shares have been deposited with the
Luxembourg Trade Register where they are available for inspection and where copies thereof can be obtained.
The Fund works as an umbrella structure which means that it is comprised of Sub-Funds, each of which
represents a specific class of assets and liabilities and has a distinct investment policy or any other specific
feature, as further described in the part II “The Sub-Funds” of the Prospectus.
The Fund constitutes a single legal entity, but the assets of each Sub-Fund shall be invested for the exclusive
benefit of the shareholders of the corresponding Sub-Fund and the assets of a specific Sub-Fund are solely
accountable for the liabilities, commitments and obligations of that Sub-Fund.
At the date of the Prospectus, six (6) Sub-Funds are at the Shareholders’ disposal. In the event of creation of
further Sub-Funds, the Prospectus will be updated accordingly.
2. Involved parties
2.1. Presentation of involved parties
Promoter Skandinaviska Enskilda Banken AB (publ)
Kungsträdgårdsgatan 8
SE-106 40 Stockholm
1 Management Company and
Domiciliation Agent
SEB Asset Management S.A.
4, rue Peternelchen
L-2370 Howald
Board of Directors of the Management
Peter Kubicki
Skandinaviska Enskilda Banken S.A., Luxembourg
Ralf Ferner
SEB Asset Management S.A., Luxembourg
Alexander Klein
SEB Investment GmbH, Frankfurt
Marie Winberg
Global Head of Product Management
SEB Investment Management AB, Stockholm
1 Common funds for which SEB Asset Management S.A. is acting as Management Company:
Elite Fund, Gamla Liv International Real Estate Fund, IOR, SEB Alternative Investment, SEB Concept Biotechnology, SEB deLuxe, SEB