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Go to Home PageOctober 2018
Nordea 1, SICAV
Société d’Investissement à Capital Variable
R.C.S. Luxembourg B 31442
562, rue de Neudorf, L-2220 Luxembourg
NOTICE TO SHAREHOLDERS
The shareholders (the “Shareholders“) of Nordea 1, SICAV (the “Company”) are hereby informed that a new prospectus of the Company (the “Prospectus”) will be issued for the purpose of including, among others, the following changes effective 19 November 2018:
Prospectus changes relevant to the Shareholders of Nordea 1 – Renminbi High Yield Bond Fund:
The Sub-fund name will change to Nordea 1 – Renminbi Bond Fund and will be re-engineered to focus on investment into the broader Renminbi bond market, rather than on the Renminbi high yield bond market. The Sub-fund’s leverage and risk exposure is unchanged.
Prospectus changes relevant to the Shareholders of Nordea 1 – Unconstrained Bond Fund – USD Hedged:
The objectives and investment policy section of the Sub-fund has been made clearer by incorporating the ratings section.
Prospectus changes relevant to the Shareholders of Nordea 1 – US Total Return Bond Fund:
There is currently insufficient clarity in the market as to how Regulation (EU) 2017/2402 (the “Securitisation Regulation”) will impact EU-domiciled investment funds. In order to mitigate a situation where investment in privately issued mortgage-backed securities is restricted or prohibited under the Securitisation Regulation, the minimum proportion of shares that shall be invested in such securities (being, either i) issued, guaranteed, or secured by a collateral guaranteed, by the Government of the United States of America or any of its agencies, instrumentalities or sponsored corporations; or ii) consisting of privately issued mortgage-backed securities that must be rated at least AA-/Aa3 (or equivalent) by a Rating Agency or any other nationally recognized statistical rating organization in the US (“NRSRO”), or that are considered of comparable credit quality by the investment manager) has been reduced from 50% to 30%.
Prospectus changes relevant to the Shareholders of Nordea 1 – US Bond Opportunities Fund:
There is currently insufficient clarify in the market as to how the Securitisation Regulation will impact EU-domiciled investment funds. In order to mitigate a situation where investment in privately issued mortgage-backed securities is restricted or prohibited under the Securitisation Regulation, the minimum proportion of shares that shall be invested in such securities (being, either i) issued, guaranteed, or secured by a collateral guaranteed, by the Government of the United States of America or any of its agencies, instrumentalities or sponsored corporations; or ii) consisting of privately issued mortgage-backed securities that must be rated at least AA-/Aa3 (or equivalent) by a Rating Agency or any other nationally recognised statistical rating organization in the US (“NRSRO”), or that are considered of comparable credit quality by the investment manager) has been reduced from 35% to 20%.
Prospectus changes relevant to the Shareholders of Nordea 1 – North American All Cap Fund:
The Sub-fund will change its name to Nordea 1 – North American Stars Equity Fund and will be re-engineered into an internally-managed Nordea ‘Stars’ product with an ESG focus. The Sub-fund’s investment policy has been amended to clarify that it will invest its assets with a particular focus on the companies’ ability to comply with international standards for environmental, social and corporate governance and will invest in companies that are undervalued in relation to their ability to generate cash flow over the long term. The Sub-fund may use derivative instruments as part of its investment strategy, for example, in order to provide the possibility to use futures for increasing or reducing exposure cheaply and quickly in case of large flows. The Sub-fund’s leverage and risk exposure is unchanged.
Prospectus changes relevant to the Shareholders of Nordea 1 – Global Climate Environment Fund:
In order to ensure a consistent approach among global thematic funds, the Sub-fund’s objective and investment policy section now includes the following text: “The Sub-fund invests its assets with a particular focus on companies operating in alternative energy resource efficiency and environment protection.”
Prospectus changes relevant to the Shareholders of Nordea 1 – Alpha 7 MA Fund, Nordea 1 – Alpha 10 MA Fund and Nordea 1 – Alpha 15 MA Fund:
It is clarified that:
Prospectus changes relevant to the Shareholders of Nordea 1 – GBP Diversified Return Fund and Nordea 1 – Stable Return Fund:
It is clarified that the Sub-funds may use derivative instruments in order to apply efficient portfolio management techniques.
Prospectus changes relevant to the Shareholders of Nordea 1 – Danish Kroner Reserve, Nordea 1 – Norwegian Kroner Reserve, Nordea 1 – Swedish Kroner Reserve:
In Regulation (EU) 2017/1131 (the Money Market Funds Regulation), the phrase “preserve capital” will be indicative of a Money Market Fund. Equally, the word “Reserve” may indicate that the Sub-funds’ use as a cash reserve and potential Money Market Fund. In order to avoid misunderstandings, the following amendments have been made:
The wording “The Sub-fund’s objective is to preserve the shareholder’s capital..:”, whenever it is mentioned in the Sub-funds’ objective and investment policy section, is changed to “The Sub-fund’s objective is to prudently invest the Shareholder’s capital…”.
Prospectus changes relevant to the following Sub-funds:
Nordea 1 – Alpha 10 MA Fund
Nordea 1 – Alpha 15 MA Fund
Nordea 1 – Alpha 7 MA Fund
Nordea 1 – Asian Focus Equity Fund
Nordea 1 – Chinese Equity Fund
Nordea 1 – European Long Short Equity Fund
Nordea 1 – Emerging Consumer Fund
Nordea 1 – Emerging Market Focus Equity Fund
Nordea 1 – Emerging Markets Small Cap Fund
Nordea 1 – Emerging Stars Equity Fund
Nordea 1 – European Focus Equity Fund
Nordea 1 – European Small and Mid Cap Equity Fund
Nordea 1 – European Stars Equity Fund
Nordea 1 – European Value Fund
Nordea 1 – GBP Diversified Return Fund
Nordea 1 – Global Climate and Environment Fund
Nordea 1 – Global Disruption Fund
Nordea 1 – Global Dividend Fund
Nordea 1 – Global Gender Diversity Fund
Nordea 1 – Global Ideas Equity Fund
Nordea 1 – Global Impact Themes Fund
Nordea 1 – Global Listed Infrastructure Fund
Nordea 1 – Global Long Short Equity Fund – USD Hedged
Nordea 1 – Global Opportunity Fund
Nordea 1 – Global Portfolio Fund
Nordea 1 – Global Small Cap Fund
Nordea 1 – Global Stable Equity Fund
Nordea 1 – Global Stable Equity Fund – Euro Hedged
Nordea 1 – Global Stars Equity Fund
Nordea 1 – Indian Equity Fund
Nordea 1 – Latin American Equity Fund
Nordea 1 – Nordic Equity Fund
Nordea 1 – Nordic Equity Small Cap Fund
Nordea 1 – Nordic Ideas Equity Fund
Nordea 1 – Nordic Stars Equity Fund
Nordea 1 – North American All Cap Fund
Nordea 1 – North American Small Cap Fund
Nordea 1 – North American Value Fund
Nordea 1 – Norwegian Equity Fund
Nordea 1 – Stable Emerging Markets Equity Fund
Nordea 1 – Stable Return Fund
Nordea 1 – Stars Long Short Equity Fund
Shareholders are informed that the listed Sub-funds may benefit from partial tax relief on taxable income derived from their investment into funds under the condition that the funds qualify either as “mixed funds” or “equity funds” in accordance with the German Investment Tax Act 2018. Please refer to the enclosed Appendix 1, which will be attached to the new November 2018 Prospectus.
Prospectus changes relevant to the Shareholders of Nordea 1 – Global Long Short Equity Fund – USD Hedged and Nordea 1 – Heracles Long/Short MI Fund:
It is clarified that these Sub-funds may use index rate benchmarks such as the EURIBOR or LIBOR to calculate performance fees within the meaning given in Regulation (EU) 2016/1011 (the “Benchmark Regulation”). Pursuant to the Benchmark Regulation, we have included the following disclosures under chapter 3 of the new Prospectus:
Prospectus changes relevant to the Shareholders of all Sub-funds:
“Benchmark Regulation”, “General Data Protection Regulation (“GDPR”)” and “Personal Data”.
Shareholders who do not agree to the changes as described above may redeem their Shares free of any charges, with the exception of any local transaction fees that might be charged by local intermediaries on their own behalf and which are independent from the Company and the Management Company. Such instruction must be received in writing by Nordea Investment Funds S.A. (as Administrative Agent) at the below address by 16 November 2018, 15:30 CET at the latest.
The updated version of the Prospectus dated November 2018 may be obtained, free of any charges, at the Registered Office of the Company or at Nordea Investment Funds S.A. at 562, rue de Neudorf, L-2220 Luxembourg, Grand Duchy of Luxembourg, and on the website www.nordea.lu, as soon as the CSSF has issued the visa-stamped official Prospectus or, if available, on local Nordea websites.
Capitalized terms in this notice shall have the meaning ascribed to them in the Prospectus unless the context otherwise requires.
Shareholders having any question relating to the above changes should not hesitate to contact their financial advisor or Nordea Investment Funds S.A., Client Relationship Services, on telephone +352 43 39 50 – 1.
Luxembourg, 12 October 2018
The Board of Directors of Nordea 1, SICAV