dedoc/paragraph_dataset huggingface dataset:
member state of the OECD. The Sub-Fund can only make use of this provision if it holds securities and
money market instruments from at least six different issues, and if securities and money market
instruments from any one issue may not account for more than 30% of the Sub-Fund’s total net assets.
The investment manager will at all times ensure that the portfolio complies with the general restrictions, as
described in the Prospectus section 3 “Investment Objective and Policy of the Fund”.
Moreover it will ensure that the following additional restrictions are met:
• Investment in ABS and MBS will not be more than 20% of the total net assets of the portfolio
• The Sub-Fund will not invest more than 5% of its net assets in units / equities of other UCITS or UCIs,
including ETFs.
• Within the limits mentioned above, the Sub-Fund may invest in all kinds of liquid ETFs, provided that
the investment policy of these ETFs corresponds widely to the investment policy of the Sub-Fund.
Such ETFs may be managed actively or passively and are at any time in conformity with the
applicable guidelines and provisions in terms of the Directive 2009/65/EC. When investing in open-
• The Sub-Fund is not allowed to enter into commitments to take over or to deliver physical
commodities, nor will the Sub-Fund be allowed to acquire commodities or certificates
representing them.
SEB Investment Management AB, a portfolio manager established under the laws of the Kingdom of Sweden
and supervised by Finansinspektionen, the Swedish Financial Authority.
3. Risk profile and risk management process
 Counterparty risk: if a counterparty does not fulfill its obligations to the Fund (e.g. not paying an
agreed amount or not delivering securities as agreed);
 Credit risk: the Sub-Fund invests directly or indirectly in bonds or other fixed income related
instruments. If an issuer of a bond fails to pay the interest and principal amount on time, the
bond could lose up to its entire value;
 Currency risk: the Sub-Fund invests in securities that are issued in currencies other than the
Base Currency of the Sub-Fund. As a result the Sub-Fund is subject to currency risk, which arises
 Derivatives: the Sub-Fund uses derivatives, these are financial instruments whose value
depends on the value of an underlying asset. Small price changes in the underlying asset can
result in large price changes of the derivative;
 Interest risk: the Sub-Fund invests in directly or indirectly in bonds or other fixed income related
instruments, whose value is affected by changes in the interest rates.
 Liquidity risk: some of the assets of the Fund may become difficult to sell at a certain time and
for a reasonable price;
 Market risk: The value of the Fund is influenced by the general situation in world economy, local
markets and individual companies.
 Underlying asset risk – ABS depend on a pool of underlying assets and are therefore subject to
additional risks related to the valuation and liquidity of such underlying assets;
For further descriptions of risks involved for the Sub-Fund, please refer to Chapter 4 “Information on risk” in
measured with the absolute VaR (Value at Risk) approach.
In accordance with applicable regulations, the absolute VaR must not be greater than 20% based on a 99%
confidence level and a holding period of 1 month / 20 business days.
The level of leverage is expected to be less than eight times of the Sub-Fund’s NAV as an average over time.
The leverage may however be subject to fluctuations over extended periods of time, therefore the level of
leverage may be under or over the expected average.
to investors who can afford to set aside the capital invested for at least three years.
page 46
The Base Currency of the Sub-Fund is expressed in euro (EUR).
* At the discretion of the Management Company, this minimum initial investment and holding may be waived.
** to be launched upon first subscription (subject to the normal subscription and payment procedure as
described in this Prospectus).
***corresponds to the last NAV of SEB Absolute-SEB Credit Multi Strategy when the sub-fund was transferred
into SEB SICAV 2-SEB Credit Multi Strategy on 5 July 2013
A redemption request which would reduce the value at such time of any holding to below such amount may be
treated as a request to redeem the whole of such holding.
bear all the charges mentioned therein. More details on management and performance fees are provided
hereafter.
7.1 Management fee
The Management Company is entitled to receive from each Class the following management fee payable out
of the assets attributable to the relevant Unit Class:
C Units 1.25% p.a.
IC and ID Units 0.75% p.a.
HNWC Units 0.75% p.a.
7.2 Performance fee
In addition, the Management Company is entitled to receive a performance fee, payable out of the assets
attributable to the relevant Unit class.
The performance fee will be calculated, accrued and crystallised for each Valuation Day in the respective Unit
classes as described below and will be paid out monthly in arrears.
The performance fee in a particular Unit class will be calculated by taking the number of Units in the Unit class
times the performance fee rate, 20%, times any positive excess performance per Unit recorded on that day.
The Sub-Fund uses the principle of High Water Mark and the Risk Free Rate as a hurdle. The “3-Month
Treasury Bill” Return Index is used as the Risk Free Rate Index, also referred to as “Index”.
The calculation of the performance fee takes place on the basis of the number of Units of the relevant class as
of the relevant Valuation Day calculated before any subscriptions and redemptions with trade date equal to the
Valuation Day.
The definitions and calculations are as follows:
Performance Fee = 20% x max. (0, Base NAV(t) – Hurdle Value(t))
The Management Company will use a “3-Month Treasury Bill” Return Index constructed and supplied by an
external data provider. Failing to find an appropriate external data provider the Management Company will
choose to calculate the “3-Month Treasury Bill” Return Index itself. In case the “3-Month Treasury Bill” Return
Index does not exist for a specific Unit class at a specific point in time, it will be substituted by the Debt
Instrument that the Management Company deems to resemble the “3-Month Treasury Bill” Return Index the
most.
page 49
SEB SICAV 2 - SEB Eastern Europe Small Cap Fund
This Sub-Fund aims to create capital growth in the long term by investing the majority of its assets in equities
and equity related transferable securities issued by small cap companies (defined as those with a market
capitalization of up to 2 billion euro) which are listed or traded on a regulated market in the eligible countries
or derive at least 40% of their sales or profits from one or several of the eligible countries.
Countries considered as eligible for investment are:
Albania, Armenia, Azerbaijan, Belarus, Bosnia & Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia,
Georgia, Hungary, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland,
Romania, Russia, Serbia, Slovakia, Slovenia, Tajikistan, Turkey, Turkmenistan, Ukraine and Uzbekistan.
The Sub-Fund may invest up to 10% of its net assets in non listed securities and in securities issued by the
above mentioned companies which are listed on a stock exchange but where the stock exchange is not being
considered as a regulated market by the CSSF.
The Sub-Fund may use future contracts, options, swaps and other derivatives as part of the investment
strategy. It may also use derivatives to hedge various investments, for risk management and to increase the
Sub-Fund’s income or gain.
Derivatives will not be used for shorting purposes.
The underlying assets of the above mentioned derivatives consist of instruments as described in the
Prospectus under Section 3.1. “Eligible Assets” a) to g) as well as financial indices, interest rates, foreign
exchange rates.
international bodies of which one or more of such Member States are members, or by any other State
of the OECD. The Sub-Fund can only make use of this provision if it holds securities and money market
instruments from at least six different issues, and if securities and money market instruments from any
one issue may not account for more than 30% of the Sub-Fund’s total net assets.
AS SEB Varahaldus, a fund management company established under the laws of Estonia and supervised by
Finantsinspektsioon, the Estonian Financial Authority.
Risk profile
 Russia risk:
The Sub-Fund may invest in securities listed on the Moscow Exchange MICEX-RTS in Russia and
any other regulated markets in the countries mentioned above which would further be
recognised as such by the CSSF.
Investments in Russia are currently subject to certain heightened risks with regard to the
ownership and custody of securities.
In Russia shareholdings are evidenced by entries in the books of a company or its registrar
(which is neither an agent nor responsible to the Custodian). No certificates representing
shareholdings in Russian companies will be held by the Custodian or any of its local
correspondents or in an effective central depository system. As a result of this system and the
lack of effective state regulation and enforcement, the Fund could lose its registration and
ownership of Russian securities through fraud, negligence or even mere oversight. However, in
recognition of such risks, the Russian correspondent of the Custodian is following increased "due
diligence" procedures.
The correspondent has entered into agreements with Russian company registrars and will only
permit investment in those companies that have adequate registrar procedures in place. In
addition, the settlement risk is minimised as the correspondent will not release cash until
registrar extracts have been received and checked. In addition, Russian debt securities have an
increased custodial risk associated with them as such securities are, in accordance with market
practice, held in custody with Russian institutions which may not have adequate insurance
coverage to cover loss due to theft, destruction or default.
page 51
 Small Cap Risk: The Sub-Fund may invest primarily in small-cap companies. Investing in the
securities of smaller, less-known companies involves greater risk and the possibility of greater
price volatility due to the less certain growth prospects of smaller firms, the lower degree of
liquidity of the markets for such stocks and the greater sensitivity of smaller companies to
changing market conditions.
confidence level and a holding period of 1 month / 20 business days..
The Sub-Fund will in principle bear all the charges mentioned in Chapter 6 “Charges” in part I “The Fund” of the
Prospectus, the Sub-Fund will, in principle, bear all the charges mentioned therein. More details on
management fee are provided hereafter.
for the relevant month.
SEB SICAV 2 - SEB Europe Chance / Risk Fund
This Sub-Fund is focused on Europe. The portfolio will mainly include shares and equity related transferable
securities issued by European companies or traded on European markets, without being restricted to a specific
industrial sector. The Sub-Fund's portfolio should be concentrated to a limited number of companies.
Sub-Fund’s income or gain. The underlying assets of the above mentioned derivatives consist of instruments
as described in this Prospectus under Section A “Eligible Assets“ a) to g) as well as financial indices, interest