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Go to Home PageSeptember 2019
NOTICE OF MERGER TO SHAREHOLDERS OF
NORDEA 1 – Global Ideas Equity Fund
and
NORDEA 1 – Global Stars Equity Fund
____________________________________________
It is brought to the attention of the shareholders of Nordea 1 – Global Ideas Equity Fund and Nordea 1 – Global Stars Equity Fund that the board of directors of Nordea 1, SICAV (the “Board of Directors”) has decided to merge Nordea 1 – Global Ideas Equity Fund (the “Merging Fund”) with Nordea 1 – Global Stars Equity Fund (the “Receiving Fund”) (the ‘’Merger’’).
The Merging Fund together with the Receiving Fund are hereinafter to be referred to as the “Funds” whereas Nordea 1, SICAV is to be referred to as the ‘’Company’’ or ‘’Nordea 1’’.
The Merger shall become effective on 25 October 2019 (the “Effective Date“).
On the Effective Date, all assets and liabilities of the Merging Fund will be transferred to the Receiving Fund. The Merging Fund will cease to exist as a result of the Merger and thereby will be dissolved on the Effective Date without going into liquidation.
Shareholders who agree with the changes proposed in this notice do not need to take any action.
Shareholders who do not agree with the Merger have the right to request the redemption or switch of their shares in shares of the same or another share class of another fund of the Company, not involved in the Merger, free of charges (with the exception of any charge other than those retained to meet disinvestment costs (as the case may be)) as further described below.
Such decision must be effected by 16 October 2019 before 15:30 CET.
This notice describes the implications of the Merger and must be read carefully. The Merger may impact your tax situation. Shareholders in the Merging Fund are advised to consult their professional advisers as to the legal, financial and tax implications of the Merger under the laws of the countries of their nationality, residence, domicile or incorporation.
Reasons and potential benefits
Similarities
Key differences
Impact of the Merger on the shareholders in the Merging Fund
Nordea 1 – Global Ideas Equity Fund |
Nordea 1 – Global Stars Equity Fund |
||||
Share class |
ISIN |
Ongoing charges |
Share class |
ISIN |
Ongoing charges |
AP – EUR |
LU1005831604 |
1.82% |
AP – EUR |
LU0985318236 |
1.82% |
BC – EUR |
LU1739255492 |
1.29% |
BC – EUR |
LU0985318665 |
1.20% |
BC – USD |
LU1739255229 |
1.29% |
BC – USD |
LU2022065143 |
1.21% |
BI – EUR |
LU1002952023 |
1.06% |
BI – EUR |
LU0985319473 |
1.06% |
BI – USD |
LU1002951991 |
1.06% |
BI – USD |
LU0985319804 |
1.06% |
BP – EUR |
LU1002951728 |
1.82% |
BP – EUR |
LU0985320059 |
1.83% |
BP – SEK |
LU1005831786 |
1.82% |
BP – SEK |
LU0985320489 |
1.83% |
BP – NOK |
LU1005832081 |
1.82% |
BP – NOK |
LU0985320216 |
1.83% |
BP – USD |
LU1002951645 |
1.82% |
BP – USD |
LU0985320562 |
1.83% |
E – EUR |
LU1002952619 |
2.58% |
E – EUR |
LU0985320646 |
2.62% |
E – USD |
LU1002952379 |
2.58% |
E – USD |
LU0985317857 |
2.62% |
HA – EUR |
LU1005832677 |
1.81% |
HA – EUR |
LU2022068329 |
1.86% |
Impact of the Merger on the shareholder in the Receiving Fund
Impact of the Merger on the Funds
between the Funds. The Merger will not have any material impact on the portfolio of the Receiving
Fund and it is not intended to undertake any rebalancing of the portfolio of the Receiving Fund.
The following documents are available to the shareholders of the Funds at the registered office of the Company on request and free of charges:
The attention of the shareholders of the Merging Fund is drawn to the importance of reading the KIID of the Receiving Fund before making any decision in relation to the Merger. The KIIDs of the Receiving Fund are also available at nordea.lu.
The Management Company will bear the legal, advisory and administrative costs and expenses associated with the preparation and completion of the Merger.
The shareholders of the Merging Fund and of the Receiving Fund are invited to consult their own tax advisors in respect to the tax impact of the contemplated Merger.
Shareholders having any question relating to the above changes should not hesitate to contact their financial advisor or the Management Company: Nordea Investment Funds S.A., Client Relationship Services at the following telephone number: +352 27 86 51 00.
Yours faithfully
On behalf of the Board of Directors
10 September 2019
Appendix I
Key features of the Merging Fund and of the Receiving Fund
The Merging Fund |
The Receiving Fund |
||||
Objective The Merging Fund’s objective is to provide shareholders with investment growth in the long term by investing in companies that appear to offer superior growth prospects and investment characteristics. |
Objective The Receiving Fund’s objective is to provide shareholders with investment growth in the long term by investing in companies with a particular focus on their ability to comply with international standards for environmental, social and corporate governance and offer superior growth prospects and investments. |
||||
Investment policy The Merging Fund invests at least 75% of total assets in equities and equity-related securities issued by companies that are domiciled anywhere in the world. The Merging Fund will be exposed to other currencies than the base currency. |
Investment policy The Receiving Fund invests at least 75% of total assets in equities and equity-related securities issued by companies that are domiciled anywhere in the world. The Receiving Fund will be exposed to other currencies than the base currency. |
||||
Benchmark The Merging Fund uses MSCI All Country World – Net Return Index for performance comparison only. |
Benchmark The Receiving Fund uses MSCI All Country World – Net Return Index for performance comparison only. |
||||
Derivatives and techniques The Merging Fund may use derivatives for hedging (reducing risks), efficient portfolio management and to seek investment gains. |
Derivatives and techniques The Receiving Fund may use derivatives for hedging (reducing risks), efficient portfolio management and to seek investment gains. |
||||
Investor considerations Suitability The Merging Fund is suitable for investors who understand the risks of the Merging Fund and plan to invest for at least 5 years. Investor profile The Merging Fund may appeal to investors who are looking for investment growth and are interested in exposure to global equity markets. |
Investor considerations Suitability The Receiving Fund is suitable for investors who understand the risks of the Receiving Fund and plan to invest for at least 5 years. Investor profile The Receiving Fund may appeal to investors who are looking for investment growth with a responsible investment approach and are interested in exposure to global equity markets. |
||||
Risk considerations The risk and reward profile indicator measures the risk of price fluctuations in the Merging Fund based on the last 5 years volatility and places the Merging Fund in category 5. This means that the purchase of units in the Merging Fund is connected to medium risk of such fluctuations. Read the “Risk Descriptions” section in the prospectus carefully before investing in the Merging Funds, with special attention to the following: · Currency · Depositary receipt · Derivatives · Emerging and frontier markets · Equity · Securities handling · Taxation Global exposure calculation: Commitment |
Risk considerations The risk and reward profile indicator measures the risk of price fluctuations in the Receiving Fund based on the last 5 years volatility and places the Receiving Fund in category 5. This means that the purchase of units in the Receiving Fund is connected to medium risk of such fluctuations. Read the “Risks Descriptions” section in the prospectus carefully before investing in the Receiving Fund, with special attention to the following: · Currency · Depositary receipt · Derivatives · Emerging and frontier markets · Equity · Securities handling · Taxation Global exposure calculation: Commitment |
||||
Investment manager: Nordea Investment Management AB Base currency: USD |
Investment manager: Nordea Investment Management AB Base currency: USD |
||||
Fees charged to the Merging Fund The Merging Fund shall bear the following fees: 1. Management fee The Management fee payable by the Merging Fund out of its assets to the Management Company is 1.50% p.a. for P- and E shares, 0.95% for C shares and 0.85% for I shares. 2. Performance fee Nil 3. Depositary fee The maximum annual fee payable to the depositary will not exceed 0,125% of the net asset value of the Merging Fund, plus any VAT if applicable. Reasonable expenses incurred by the Depositary or by other banks and financial institutions to whom safekeeping of the assets of Nordea 1, SICAV is entrusted are additional to the depositary fee. 4. Administration fee The Merging Fund shall pay an administration fee of up to 0.40% p.a., plus any VAT if applicable to the Administrative Agent. 5. Entry and Exit Charges: Entry charges: Up to 5.00 % Exit charges: None 6. Ongoing charges |
Fees charged to the Receiving Fund The Receiving Fund shall bear the following fees: 1. Management fee The Management fee payable by the Receiving Fund out of its assets to the Management Company is 1.50% p.a. for P and E shares, 0.85% for C shares, 1.25% for S shares and 0.75% for I shares. 2. Performance fee Nil 3. Depositary fee The maximum annual fee payable to the depositary will not exceed 0,125% of the net asset value of the Receiving Fund, plus any VAT if applicable. Reasonable expenses incurred by the Depositary or by other banks and financial institutions to which safekeeping of the assets of Nordea 1, SICAV is entrusted are additional to the Depositary fee. 4. Administration fee The Receiving Fund shall pay an administration fee of up to 0.40% p.a., plus any VAT if applicable to the Administrative Agent. 5. Entry and Exit Charges: Entry charges: Up to 5.00 % Exit charges: None 6. Ongoing charges |
||||
Nordea 1 – Global Ideas Equity Fund |
Nordea 1 – Global Stars Equity Fund |
||||
Share class |
ISIN |
Ongoing charges |
Share class |
ISIN |
Ongoing charges |
AP – EUR |
LU1005831604 |
1.82% |
AP – EUR |
LU0985318236 |
1.82% |
BC – EUR |
LU1739255492 |
1.29% |
BC – EUR |
LU0985318665 |
1.20% |
BC – USD |
LU1739255229 |
1.29% |
BC – USD |
LU2022065143 |
1.21% |
BI – EUR |
LU1002952023 |
1.06% |
BI – EUR |
LU0985319473 |
1.06% |
BI – USD |
LU1002951991 |
1.06% |
BI – USD |
LU0985319804 |
1.06% |
BP – EUR |
LU1002951728 |
1.82% |
BP – EUR |
LU0985320059 |
1.83% |
BP – SEK |
LU1005831786 |
1.82% |
BP – SEK |
LU0985320489 |
1.83% |
BP – NOK |
LU1005832081 |
1.82% |
BP – NOK |
LU0985320216 |
1.83% |
BP – USD |
LU1002951645 |
1.82% |
BP – USD |
LU0985320562 |
1.83% |
E – EUR |
LU1002952619 |
2.58% |
E – EUR |
LU0985320646 |
2.62% |
E – USD |
LU1002952379 |
2.58% |
E – USD |
LU0985317857 |
2.62% |
HA – EUR |
LU1005832677 |
1.81% |
HA – EUR |
LU2022068329 |
1.86% |