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Terms and conditions

Access to information contained on this website is exclusively reserved for professional investors in Luxembourg. Please read the important information below. This contains legal and regulatory information which applies to our company status, use of this website and information about any investment in our products referred to in this website. Note that you will have to accept these terms and conditions before you can proceed. Copyright 2019 by Nordea Investment Funds S.A. – all rights reserved.

Please note that you are required to read and accept the terms of our privacy policy and the use of cookies before you are able to access our websites.
For full privacy and cookie policy please refer to the link below.

Terms and conditions

Access to information contained on this website is exclusively reserved for investors in Luxembourg. Please read the important information below. This contains legal and regulatory information which applies to our company status, use of this website and information about any investment in our products referred to in this website. Note that you will have to accept these terms and conditions before you can proceed. Copyright 2019 by Nordea Investment Funds S.A. – all rights reserved.

Please note that you are required to read and accept the terms of our privacy policy and the use of cookies before you are able to access our websites.
For full privacy and cookie policy please refer to the link below.

  • 1. Terms and conditions
  • 2. Data privacy policy
  • 1. Terms and conditions
  • 2. Data privacy policy
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  • 1. Terms and conditions
  • 2. Data privacy policy

Provision on the modification of terms & conditions:

Nordea Investment Funds S.A. (NIFSA) reserves the right to modify these terms and conditions on this website at any time, with immediate effect and without prior notice. If the terms and conditions are amended you will be required to read and accept these terms and conditions again.

Restrictions of Website:

The information on this website should not be accessed by any person or entity in any jurisdiction or country where, by reason of that person’s nationality, residence or otherwise, the publication or availability of this website is prohibited. Persons accessing this website are required to inform themselves about and observe any relevant restrictions. NIFSA does not accept any liability whatsoever for any loss howsoever arising from any use of this website or its respective contents or otherwise arising in connection therewith. NIFSA cannot be held responsible for any damages or losses that occur from transactions and/or services in violation of the relevant rules of the purchaser’s home jurisdiction. This website is in particular exclusively reserved for non-US Persons*. The information in this website is not for distribution to and does not constitute an offer to sell or the solicitation of any offer to buy any securities in the United States of America to or for the benefit of 
“US Persons.”


* US Persons are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US citizens living abroad may also be deemed “US Persons” under certain rules.

Issuer of the website:

This website is issued and operated by Nordea Investment Funds S.A. (NIFSA), 562, rue de Neudorf, P.O. Box 782, L-2017 Luxembourg, which is authorized by the Luxembourg supervisory authority Commission de Surveillance du Secteur Financier in Luxembourg. NIFSA is registered with the commercial register in Luxembourg (Registre de commerce et des sociétés; or “RCS”) under company number B 31619.

MiFID:

Please note that UCITS management companies, which do not provide additional and non-core services within the meaning of article 5(3) of the UCITS Directive in principle are not covered by MiFID rules (EU Directive 2014/65/EU, dated 15 May 2014, on markets in financial instruments and its implementing measures). Therefore does NIFSA not warrant or guarantee that the materials and information contained on this website are compliant with the marketing requirements of the MiFID Directive, except where compelled by local laws and regulations.

Qualification of the website:

This website is considered marketing communication and contains general information about NIFSA, the NIFSA managed funds which are available to your investor type and in your country/jurisdiction and Nordea Asset Management. This website does neither amount to an investment advice nor does it constitute i) a recommendation to invest in any financial product, investment structure or instrument, ii) tax advice, to enter into or unwind any transaction or to participate in any particular trading strategy. This website is not an offer to buy any security. Consequently, the information contained herein will be superseded in its entirety by contractual arrangement in its final form entered into for the purpose of an investment in a NIFSA managed fund. Any investment decision should therefore only be based on the final legal documentation, without limitation and if applicable, contractual arrangement, any relevant prospectus and the latest Key Investor Information Document (KIID) relating to the investment.

Information about the funds and availability of the statutory documents:

The sub-funds mentioned on this website are part of one of the following investment funds:


UCITS-SICAVs:
Nordea 1, SICAV, Nordea 2, SICAV or Nordea Fund of Funds, SICAV, all open-ended Luxembourg-based investment companies with variable capital (“Société d’Investissement à Capital Variable”, “SICAV”), validly incorporated and existing in accordance with Part I of the Luxembourg law of 17 December 2010 on undertakings for collective investment in transferable securities (Law of 17 December 2010);

UCITS-FCPs:
Nordea International Fund or Nordea Asset Allocation Fund, both unincorporated mutual investment funds (“fonds commun de placement”) constituted in Luxembourg and governed by Part I of the Law of 17 December 2010 and organised as described in the respective prospectus;

SICAV-SIF:
Nordea Dedicated Investment Fund SICAV- FIS, Nordea Specialised Investment Fund, SICAV-FIS or Nordea Institutional Investment Fund, SICAV-FIS, all qualifying as specialised investment funds (“fonds d’investissement spécialisés”), taking the form of an investment company with variable capital (“Société d’Investissement à Capital Variable”, “SICAV”) under the Luxembourg law of 13 February 2007 relating to specialized investment funds. Such funds are Alternative Investment Funds within the meaning of the Directive 2011/61/EU (“AIFM Directive”) and therefore subject to the requirements of the AIFM Directive as implemented in Luxembourg law through the Law of 12 July 2013 on Alternative Investment Fund Managers as may be amended from time to time;

The legal documents, including the current prospectus and Key Investor Information Document (KIID), are available in English and in the local language of the market where the aforementioned funds are authorised for distribution, without charge upon request, from Nordea Investment Funds S.A., 562, rue de Neudorf, P.O. Box 782, L-2017 Luxembourg, from the local representatives or information agents, or from our distributors. Further information can be obtained from your financial advisor. He/she can advise you independently on Nordea Investment Funds S.A. and the funds managed by it.

Local specific provisions:

This website is only for professional investors in Luxembourg investing for their own account – according to MiFID definition.

Generic statement about risks, performance and comparisons:

The value of shares/units of the funds mentioned herein and any income from them may vary over time and you may not recover the invested amount.

Investments in derivative and foreign exchange transactions may be subject to significant fluctuations which may affect the value of an investment. Investments in Emerging Markets and alternative products involve a higher element of risk. For further details of investment risks associated with Nordea funds, please refer to the relevant prospectus or Key Investor Information Document (KIID), where applicable, available as described above. For further details of investment risks associated with each respective sub-fund investment, please refer to the relevant Key Investor Information Document (KIID), available as described above.

Estimates of future returns or indications of past performance shown on this website are for information purposes only and are not reliable indicators for future performance. Past performance is not a reliable indicator of future results and investors may not recover the full amount invested. There can be no warranty that an investment objective, targeted returns and results of an investment structure is achieved. Comparison with other financial products or benchmarks is only meant for indicative purposes.

Tax matters:

The levels of and relief from taxation of both, the fund and/or the individual investor may change. Investors should take into account their tax status together with the effects of any anticipated investment. The tax reliefs referred to are those currently available and their value depends on the circumstances of the individual investor. The level of tax benefits and liabilities will depend on individual circumstances and may be subject to change in the future.

Limitation of liability regarding accuracy / completeness of the information:

Whilst NIFSA will use every reasonable effort to ensure that the information contained on this website is accurate as at the date of publication of such materials, can no guarantee of the accuracy, suitability or completeness of any such information or the availability be given.
Neither NIFSA nor any other person accepts any liability whatsoever for any loss/damage (direct or consequential) arising from any use of this website or its contents, to third (3rd) party websites or otherwise arising in connection therewith.

Provision about specific content and functionalities e.g. views / research / hyperlink to third (3rd) party:

The website of NIFSA may contain links to other third-party websites that you may access following links from this website. NIFSA accepts no responsibility for the information provided on any such sites and assumes no responsibility for any illegal, inaccurate or incomplete content on the website to which the user has been referred, especially in cases where any damages result from the use or non-use of such incorrect information.

The hyperlinks on this website are only provided for convenience and information purposes. NIFSA is not responsible for the content of external internet websites that link to or are accessible from this website. NIFSA does not assume any responsibility or liability with respect to any website accessed through this website.

Unless otherwise stated, all views expressed are those of NIFSA, these views do not constitute investment or any other advice.

Copyright provisions:

The entire content of this website is subject to copyright with all rights reserved to Nordea Investment Funds S.A. You may download or print out a hard copy of individual pages and/or sections of the website, provided that you do not remove any copyright or other proprietary notices. Any downloading or otherwise copying from the website will not transfer title to any software or material to you. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link into or use for any public or commercial purpose the website without the prior written permission of NIFSA.

AML & CTF provisions:

Nordea Investment Funds S.A. is committed to prevent Money Laundering and Counter Terrorist Financing in accordance with the legal framework enforced by the European Union (“equivalent country”) and in particular with the Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. Accordingly we may need additional information to verify your identity and carry out appropriate security checks.

Operational capabilities of the website:

NIFSA will use every reasonable effort to keep this website operational at all times but no guarantee can be given. Whilst NIFSA uses every reasonable effort to ensure that the website is free from viruses and defects is it your responsibility to ensure that the correct equipment is used to protect from anything that might damage it when using this website.

Email provisions:

The user of the website is reminded that the confidentiality of e-mail messages sent via the public network cannot be guaranteed. We recommend the user to avoid forwarding personal data or other confidential messages to NIFSA via e-mail. NIFSA or other service providers are not liable to carry out orders or instructions submitted via public e-mail. NIFSA is entitled, if requested by the user, to provide general information via e-mail to the e-mail address defined by the user. NIFSA shall neither be responsible nor liable for losses or damages occurred by any disappearance or transformation of such a message.

January 2019

Nordea Asset Management Data Privacy Policy

We, Nordea Asset Management, are fully committed to protecting your individual rights and keeping your personal data safe. In this Privacy Policy we describe the collection, usage, storage and sharing practices of personal data.

Nordea Asset Management (“NAM”) is the functional name of the asset management business owned by NAM Holding and conducted by the legal entities Nordea Investment Funds S.A. and Nordea Investment Management AB and their branches, subsidiaries and representative offices. Within NAM, the data controller will be either Nordea Investment Management AB and/or Nordea Investment Funds S.A or their subsidiaries.

You can visit https://www.nordea.com/en/about-nordea/contact/ for a full overview of Nordea entities and their current contact information.

We process individuals’ personal data for a number of reasons. When we write «you», we mean you as a data subject in your role as a customer, our customer’s employee or representative, a potential customer’s employee, collaboration partner, insight provider or other, such as beneficial owner, authorised representative and associated party.

This Privacy Policy covers the following areas:

1. What personal data we collect
2. Purpose and lawfulness of processing your personal data
3. Who we may disclose your personal data
4. How we protect your personal data 
5. How long we keep your personal data
6. Your privacy rights
7. Cookies
8. How changes to the Privacy Policy and the Cookies policy will be made
9. Contacting us or the data protection authority 


1. What personal data we collect.

Personal data is in most cases either collected directly from you, a third party acting on your behalf, a third party that you represent, or generated as part of your use of our services and products. Sometimes additional information is required to keep information up to date or to verify information we collect.

The personal data we might collect can be grouped into the following categories:
• Identification information: national identification number and name. We are obliged to collect documentation of such information when entering into a contractual relationship, for instance in the form of copies of your passport, driver’s license, or the like.

• Contact information: email address, phone numbers and addresses and other typical business card information. For most individuals, work- as opposed to private contact information is the only contact information we collect, process or control.

• Financial information: type of agreement, transaction information, account information.

• Information related to legal requirements: country of taxation or foreign tax payer reference, customer/company due diligence and anti-money laundering requirements.

Personal data we may collect from you:
We may collect and keep information you provide directly to us. For example, when becoming a representative or contact of a customer or collaboration partner, we collect personal data, such as name, e-mail address and phone number. In some cases, also national identification number for verification purposes. For existing private customers, income and debt information has also been collected to be able to provide you with the product or service in question.
We may also collect and keep information which you provide us with, such as messages you have sent us, e.g. feedback or a request in our digital channels. Telephone calls and chat conversations with you may also be recorded and logged for compliance reasons and for verification of orders, documentation, and for purposes of improving the quality of the services we provide. For security purposes, we may have cameras in our offices.

Personal data we may collect from third parties:
We may collect information that is publicly available and that can be retrieved from external sources; such as in registers held by governmental agencies (tax authorities, company registration offices, enforcement authorities), sanction lists (held by international organisations such as the EU and UN as well as national organisations such as Office of Foreign Assets Control (OFAC)), registers held by other commercial information providers providing information on e.g. beneficial owners and politically exposed persons.
In connection with payments, we collect information from remitters, banks, payment service providers and others.

We may also collect information from other entities within NAM, the Nordea Group or other entities which we collaborate with.


2. Purpose and lawfullness of processing your personal data

We use your personal data to comply with legal and contractual obligations as well as to provide you with information on products and services.

Entering into and administration of service and product agreements (performance of a contract)
The main purpose of our processing of personal data in this regard is to collect, verify, and process personal data prior to giving an offer and entering into a contract with relevant stakeholders as well as documenting, administering and completing tasks for the performance of contracts.

Examples of the performance of a contract:
• processes needed concerning e.g. subscription and redemption of funds
• customer service during the contract period, e.g. reporting on performance of a product

Fulfilment of legal obligations
In addition to the performance of contract, processing of personal data also takes place for us to fulfil obligations under law, regulations or authority decisions.
Examples of processing due to legal obligations:
• Know Your Customer requirements
• Preventing, detecting, and investigating money laundering, terrorist financing, and fraud
• Sanctions screening
• Reporting to tax authorities, police authorities, enforcements authorities, supervisory authorities
• Market opening for funds in some emerging market countries
• Other obligations related to service or product specific legislations, for example securities or funds

Marketing, product- and customer analysis (legitimate interest)
Personal data is also processed in the context of business to business marketing. This is to deliver requested information, improve our product range and optimize our customer offerings.

IT security and development (legitimate interest)
Systems and means of processing needed to deliver services and products to you are continuously being developed and internally tested to ensure the ongoing confidentiality, integrity, availability and resilience. The testing process is by design limited to key identifiers necessary to perform the testing and all other directly or indirectly identifiable personal information are masked.
Compliance with applicable financial industry secrecy obligations are ensured in all cases.

Profiling and Automated decision-making
NAM entities use profiling and automated decision making to detect, prevent and investigate money laundering, terrorist financing, and fraud following Know Your Customer and sanction screening requirements.


3.  Who we disclose your personal data to
We may share your personal data with others such as public authorities, NAM entities, Nordea Group companies, suppliers, service providers and business partners. Before sharing we will always ensure that we respect applicable financial industry secrecy obligations and that we comply with applicable data protection regulation.

Third parties and Nordea Group companies
To provide our services, we may disclose data about you that is necessary to identify you and perform an assignment or agreement with companies that we cooperate with (such as a custodian bank) to perform our services.
We may also disclose personal data to authorities to the extent we are under statutory obligation to do so. Such authorities include national tax authorities, police authorities, enforcement authorities and supervisory authorities.
In addition, data may be disclosed, with your consent or if this is permitted pursuant to legislation, internally in NAM entities or Nordea Group and to external business partners (including correspondent banks, other banks, vendor partners of finance object and re-insurers).
We have entered into agreements with selected suppliers, which include processing of personal data on behalf of us. Examples thereof are suppliers of IT development, maintenance, hosting and support.

Third country transfers
In some cases, we may also transfer personal data to entities as referenced above in so-called third countries (countries outside of the European Economic Area). Such transfers may be made if any of the following conditions apply:
• The European Commission has decided that there is an adequate level of protection in the country in question

• Other appropriate safeguards have been taken, for example the use of the standard contractual clauses (EU model-clauses) approved by the European Commission or the data processor has valid Binding Corporate Rules (BCR) in place

• Exceptions in special situations, such as to fulfil a contract with you or you consent to the specific transfer.

You can access a copy of the relevant EU model-clauses used by Nordea for transfers by going to www.eur-lex.europa.eu and search for 32010D0087


4. How we protect your personal data 
Keeping your personal data safe and secure is important to our business. We use appropriate technical, organizational and administrative security measures to protect any information we obtain from loss, misuse, and unauthorized access, disclosure, alteration and destruction.



5. How long we process your personal data 
We will keep your data for as long as it is needed for the purposes for which your data was collected and processed or required by laws and regulations.
In case we keep your data for other purposes than for the performance of a contract, such as for anti-money laundering, B2B marketing, bookkeeping and regulatory capital adequacy requirements, we keep the data only if necessary and/or mandated by laws and regulations for the respective purpose.
Keep in mind that retention obligations may differ within NAM, subject to applicable local legislation. 



6. Your privacy rights
You as a data subject have rights in respect of personal data we process concerning you. You have the following rights;

Request access to your personal data
You have a right to access to the personal data we are processing about you. Your right to access may, however, be restricted by legislation, protection of other persons’ privacy and consideration for NAM’s business concept and business practices. NAM’s know-how, business secrets as well as internal assessments and material may restrict your right of access.

Request correction of incorrect or incomplete data
If relevant data is incorrect or incomplete, you are entitled to have the data rectified, subject to any restrictions in legislation.

Request erasure
You have the right to request erasure of your data in case:
• You withdraw your consent to the processing and there is no other legitimate reason for processing
• You object to the processing and there is no justified reason for continuing the processing
• You object to processing for direct marketing
• Processing is unlawful
• When processing personal data on minors, if the data was collected in connection with the provision of information society services

Due to the financial sector legislation we are in many cases obliged to retain personal data concerning you during your customer relationship, and even after that, e.g. to comply with a statutory obligation or where processing is carried out to manage legal claims.

Request limitation on processing of personal data
If you contest the correctness of the data which we have registered about you or lawfulness of processing, or if you have objected to the processing of the data in accordance with your right to object, you may request us to restrict the processing of these data to only storage. The processing will only be restricted to storage, until the correctness of the data can be established, or it can be checked whether our legitimate interests override your interests.
If you are not entitled to erasure of the data which we have registered about you, you may instead request that we restrict the processing of these data to only storage. If the processing of the data which we have registered about you is solely necessary to assert a legal claim, you may also demand that other processing of these data be restricted to storage. We may process your data for other purposes if this is necessary to assert a legal claim or if you have granted your consent to this.

Object to processing based on our legitimate interest
You can always object to the processing of personal data concerning you for direct marketing and profiling in connection to such marketing.

Withdraw consent(s) previously given to us at any time
Withdrawal will not affect the lawfulness of processing based on that consent before the withdrawal. Withdrawing consent to processing of personal data needed in order to deliver services and products to you may result in the termination of contractual engagements.

Request data portability
You have a right to receive personal data that you have provided to us in a machine-readable format. This right applies to personal data processed only by automated means and on the basis consent or of fulfilling a contract. Where secure and technically feasible, we may also transmit the data to another data controller.

File complaint with supervisory authorities
You have the right to file a complaint with the supervisory authority in the member state of your habitual residence, place of work or place of the alleged infringement if you believe that the processing of personal data relating to you is unlawful.
Your request to exercise your rights as listed above will be assessed given the circumstances in the individual case.


7. Cookies
We collect, process and analyse data regarding the use of our webpages. Traffic data is data connected to visitors on the webpage and data handled in communication fields for sending, distributing or making messages available.
We use cookies and similar technologies to deliver products and services to you, provide a secure online environment, manage our marketing and provide a better online experience, track our website
performance and to make our website content more relevant to you. The data will not be used to identify individual visitors.
You can set or amend your web browser controls to accept or reject cookies. If you choose to reject cookies, you may still use our websites and some services, however your access to some functionality and areas of our website or services may be restricted substantially.
For more information, see cookies at the footer of our local website Nordea.lu or Nordea.com/am.


8. How changes to this Privacy Policy and the Cookies policy will be made 
We are constantly working on improving and developing our services, products and websites. Consequently, we may change this Data Privacy Policy from time to time. We will not reduce your rights under this Data Privacy Policy or under applicable data protection laws in the jurisdictions we operate. If the changes to the Data Privacy Policy are significant, we will provide a notice when we are required to do so by applicable law. Please review this Data Privacy Policy from time to time to stay updated on any changes.  


9. Contact us 
If you have any questions regarding this policy (e.g. regarding your rights, their use or contact information of relevant Data Protection Authorities), please contact the NAM Data Protection Office directly by sending your message to [email protected] or by sending a letter to: Nordea Asset Management, Data Protection Office, c/o Strandgade 3, PO Box 850, 0900 København K, Denmark.

  • 1. Terms and conditions
  • 2. Data privacy policy

Provision on the modification of terms & conditions:

Nordea Investment Funds S.A. (NIFSA) reserves the right to modify these terms and conditions on this website at any time, with immediate effect and without prior notice. If the terms and conditions are amended you will be required to read and accept these terms and conditions again.

Restrictions of Website:

The information on this website should not be accessed by any person or entity in any jurisdiction or country where, by reason of that person’s nationality, residence or otherwise, the publication or availability of this website is prohibited. Persons accessing this website are required to inform themselves about and observe any relevant restrictions. NIFSA does not accept any liability whatsoever for any loss howsoever arising from any use of this website or its respective contents or otherwise arising in connection therewith. NIFSA cannot be held responsible for any damages or losses that occur from transactions and/or services in violation of the relevant rules of the purchaser’s home jurisdiction. This website is in particular exclusively reserved for non-US Persons*. The information in this website is not for distribution to and does not constitute an offer to sell or the solicitation of any offer to buy any securities in the United States of America to or for the benefit of US Persons.”


* US Persons are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US citizens living abroad may also be deemed “US Persons” under certain rules.

Issuer of the website:

This website is issued and operated by Nordea Investment Funds S.A. (NIFSA), 562, rue de Neudorf, P.O. Box 782, L-2017 Luxembourg, which is authorized by the Luxembourg supervisory authority Commission de Surveillance du Secteur Financier in Luxembourg. NIFSA is registered with the commercial register in Luxembourg (Registre de commerce et des sociétés; or “RCS”) under company number B 31619.

MiFID:

Please note that UCITS management companies, which do not provide additional and non-core services within the meaning of article 5(3) of the UCITS Directive in principle are not covered by MiFID rules (EU Directive 2014/65/EU, dated 15 May 2014, on markets in financial instruments and its implementing measures). Therefore does NIFSA not warrant or guarantee that the materials and information contained on this website are compliant with the marketing requirements of the MiFID Directive, except where compelled by local laws and regulations.

Qualification of the website:

This website is considered marketing communication and contains general information about NIFSA, the NIFSA managed funds which are available to your investor type and in your country/jurisdiction and Nordea Asset Management. This website does neither amount to an investment advice nor does it constitute i) a recommendation to invest in any financial product, investment structure or instrument, ii) tax advice, to enter into or unwind any transaction or to participate in any particular trading strategy. This website is not an offer to buy any security. Consequently, the information contained herein will be superseded in its entirety by contractual arrangement in its final form entered into for the purpose of an investment in a NIFSA managed fund. Any investment decision should therefore only be based on the final legal documentation, without limitation and if applicable, contractual arrangement, any relevant prospectus and the latest Key Investor Information Document (KIID) relating to the investment.

Information about the funds and availability of the statutory documents:

The sub-funds mentioned on this website are part of the following investment fund:


UCITS-SICAV:
Nordea 1, SICAV, all open-ended Luxembourg-based investment company with variable capital (“Société d’Investissement à Capital Variable”, “SICAV”), validly incorporated and existing in accordance with Part I of the Luxembourg law of 17 December 2010 on undertakings for collective investment in transferable securities (Law of 17 December 2010);

The legal documents, including the current prospectus and Key Investor Information Document (KIID), are available in English and in the local language of the market where the aforementioned funds are authorised for distribution, without charge upon request, from Nordea Investment Funds S.A., 562, rue de Neudorf, P.O. Box 782, L-2017 Luxembourg, from the local representatives or information agents, or from our distributors. Further information can be obtained from your financial advisor. He/she can advise you independently on Nordea Investment Funds S.A. and the funds managed by it.

Local specific provisions:

This website is only for investors in Luxembourg.

Generic statement about risks, performance and comparisons:

The value of shares/units of the funds mentioned herein and any income from them may vary over time and you may not recover the invested amount.

Investments in derivative and foreign exchange transactions may be subject to significant fluctuations which may affect the value of an investment. Investments in Emerging Markets and alternative products involve a higher element of risk. For further details of investment risks associated with Nordea funds, please refer to the relevant prospectus or Key Investor Information Document (KIID), where applicable, available as described above. For further details of investment risks associated with each respective sub-fund investment, please refer to the relevant Key Investor Information Document (KIID), available as described above.

Estimates of future returns or indications of past performance shown on this website are for information purposes only and are not reliable indicators for future performance. Past performance is not a reliable indicator of future results and investors may not recover the full amount invested. There can be no warranty that an investment objective, targeted returns and results of an investment structure is achieved. Comparison with other financial products or benchmarks is only meant for indicative purposes.

Tax matters:

The levels of and relief from taxation of both, the fund and/or the individual investor may change. Investors should take into account their tax status together with the effects of any anticipated investment. The tax reliefs referred to are those currently available and their value depends on the circumstances of the individual investor. The level of tax benefits and liabilities will depend on individual circumstances and may be subject to change in the future.

Limitation of liability regarding accuracy / completeness of the information:

Whilst NIFSA will use every reasonable effort to ensure that the information contained on this website is accurate as at the date of publication of such materials, can no guarantee of the accuracy, suitability or completeness of any such information or the availability be given.
Neither NIFSA nor any other person accepts any liability whatsoever for any loss/damage (direct or consequential) arising from any use of this website or its contents, to third (3rd) party websites or otherwise arising in connection therewith.

Provision about specific content and functionalities e.g. views / research / hyperlink to third (3rd) party:

The website of NIFSA may contain links to other third-party websites that you may access following links from this website. NIFSA accepts no responsibility for the information provided on any such sites and assumes no responsibility for any illegal, inaccurate or incomplete content on the website to which the user has been referred, especially in cases where any damages result from the use or non-use of such incorrect information.

The hyperlinks on this website are only provided for convenience and information purposes. NIFSA is not responsible for the content of external internet websites that link to or are accessible from this website. NIFSA does not assume any responsibility or liability with respect to any website accessed through this website.

Unless otherwise stated, all views expressed are those of NIFSA, these views do not constitute investment or any other advice.

Copyright provisions:

The entire content of this website is subject to copyright with all rights reserved to Nordea Investment Funds S.A. You may download or print out a hard copy of individual pages and/or sections of the website, provided that you do not remove any copyright or other proprietary notices. Any downloading or otherwise copying from the website will not transfer title to any software or material to you. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link into or use for any public or commercial purpose the website without the prior written permission of NIFSA.

AML & CTF provisions:

Nordea Investment Funds S.A. is committed to prevent Money Laundering and Counter Terrorist Financing in accordance with the legal framework enforced by the European Union (“equivalent country”) and in particular with the Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. Accordingly we may need additional information to verify your identity and carry out appropriate security checks.

Operational capabilities of the website:

NIFSA will use every reasonable effort to keep this website operational at all times but no guarantee can be given. Whilst NIFSA uses every reasonable effort to ensure that the website is free from viruses and defects is it your responsibility to ensure that the correct equipment is used to protect from anything that might damage it when using this website.

Email provisions:

The user of the website is reminded that the confidentiality of e-mail messages sent via the public network cannot be guaranteed. We recommend the user to avoid forwarding personal data or other confidential messages to NIFSA via e-mail. NIFSA or other service providers are not liable to carry out orders or instructions submitted via public e-mail. NIFSA is entitled, if requested by the user, to provide general information via e-mail to the e-mail address defined by the user. NIFSA shall neither be responsible nor liable for losses or damages occurred by any disappearance or transformation of such a message.

January 2019

Nordea Asset Management Data Privacy Policy

We, Nordea Asset Management, are fully committed to protecting your individual rights and keeping your personal data safe. In this Privacy Policy we describe the collection, usage, storage and sharing practices of personal data.

Nordea Asset Management (“NAM”) is the functional name of the asset management business owned by NAM Holding and conducted by the legal entities Nordea Investment Funds S.A. and Nordea Investment Management AB and their branches, subsidiaries and representative offices. Within NAM, the data controller will be either Nordea Investment Management AB and/or Nordea Investment Funds S.A or their subsidiaries.

You can visit https://www.nordea.com/en/about-nordea/contact/ for a full overview of Nordea entities and their current contact information.

We process individuals’ personal data for a number of reasons. When we write «you», we mean you as a data subject in your role as a customer, our customer’s employee or representative, a potential customer’s employee, collaboration partner, insight provider or other, such as beneficial owner, authorised representative and associated party.

This Privacy Policy covers the following areas:

1. What personal data we collect
2. Purpose and lawfulness of processing your personal data
3. Who we may disclose your personal data
4. How we protect your personal data 
5. How long we keep your personal data
6. Your privacy rights
7. Cookies
8. How changes to the Privacy Policy and the Cookies policy will be made
9. Contacting us or the data protection authority 


1. What personal data we collect.

Personal data is in most cases either collected directly from you, a third party acting on your behalf, a third party that you represent, or generated as part of your use of our services and products. Sometimes additional information is required to keep information up to date or to verify information we collect.

The personal data we might collect can be grouped into the following categories:
• Identification information: national identification number and name. We are obliged to collect documentation of such information when entering into a contractual relationship, for instance in the form of copies of your passport, driver’s license, or the like.

• Contact information: email address, phone numbers and addresses and other typical business card information. For most individuals, work- as opposed to private contact information is the only contact information we collect, process or control.

• Financial information: type of agreement, transaction information, account information.

• Information related to legal requirements: country of taxation or foreign tax payer reference, customer/company due diligence and anti-money laundering requirements.

Personal data we may collect from you:
We may collect and keep information you provide directly to us. For example, when becoming a representative or contact of a customer or collaboration partner, we collect personal data, such as name, e-mail address and phone number. In some cases, also national identification number for verification purposes. For existing private customers, income and debt information has also been collected to be able to provide you with the product or service in question.
We may also collect and keep information which you provide us with, such as messages you have sent us, e.g. feedback or a request in our digital channels. Telephone calls and chat conversations with you may also be recorded and logged for compliance reasons and for verification of orders, documentation, and for purposes of improving the quality of the services we provide. For security purposes, we may have cameras in our offices.

Personal data we may collect from third parties:
We may collect information that is publicly available and that can be retrieved from external sources; such as in registers held by governmental agencies (tax authorities, company registration offices, enforcement authorities), sanction lists (held by international organisations such as the EU and UN as well as national organisations such as Office of Foreign Assets Control (OFAC)), registers held by other commercial information providers providing information on e.g. beneficial owners and politically exposed persons.
In connection with payments, we collect information from remitters, banks, payment service providers and others.

We may also collect information from other entities within NAM, the Nordea Group or other entities which we collaborate with.


2. Purpose and lawfullness of processing your personal data

We use your personal data to comply with legal and contractual obligations as well as to provide you with information on products and services.

Entering into and administration of service and product agreements (performance of a contract)
The main purpose of our processing of personal data in this regard is to collect, verify, and process personal data prior to giving an offer and entering into a contract with relevant stakeholders as well as documenting, administering and completing tasks for the performance of contracts.

Examples of the performance of a contract:
• processes needed concerning e.g. subscription and redemption of funds
• customer service during the contract period, e.g. reporting on performance of a product

Fulfilment of legal obligations
In addition to the performance of contract, processing of personal data also takes place for us to fulfil obligations under law, regulations or authority decisions.
Examples of processing due to legal obligations:
• Know Your Customer requirements
• Preventing, detecting, and investigating money laundering, terrorist financing, and fraud
• Sanctions screening
• Reporting to tax authorities, police authorities, enforcements authorities, supervisory authorities
• Market opening for funds in some emerging market countries
• Other obligations related to service or product specific legislations, for example securities or funds

Marketing, product- and customer analysis (legitimate interest)
Personal data is also processed in the context of business to business marketing. This is to deliver requested information, improve our product range and optimize our customer offerings.

IT security and development (legitimate interest)
Systems and means of processing needed to deliver services and products to you are continuously being developed and internally tested to ensure the ongoing confidentiality, integrity, availability and resilience. The testing process is by design limited to key identifiers necessary to perform the testing and all other directly or indirectly identifiable personal information are masked.
Compliance with applicable financial industry secrecy obligations are ensured in all cases.

Profiling and Automated decision-making
NAM entities use profiling and automated decision making to detect, prevent and investigate money laundering, terrorist financing, and fraud following Know Your Customer and sanction screening requirements.


3.  Who we disclose your personal data to
We may share your personal data with others such as public authorities, NAM entities, Nordea Group companies, suppliers, service providers and business partners. Before sharing we will always ensure that we respect applicable financial industry secrecy obligations and that we comply with applicable data protection regulation.

Third parties and Nordea Group companies
To provide our services, we may disclose data about you that is necessary to identify you and perform an assignment or agreement with companies that we cooperate with (such as a custodian bank) to perform our services.
We may also disclose personal data to authorities to the extent we are under statutory obligation to do so. Such authorities include national tax authorities, police authorities, enforcement authorities and supervisory authorities.
In addition, data may be disclosed, with your consent or if this is permitted pursuant to legislation, internally in NAM entities or Nordea Group and to external business partners (including correspondent banks, other banks, vendor partners of finance object and re-insurers).
We have entered into agreements with selected suppliers, which include processing of personal data on behalf of us. Examples thereof are suppliers of IT development, maintenance, hosting and support.

Third country transfers
In some cases, we may also transfer personal data to entities as referenced above in so-called third countries (countries outside of the European Economic Area). Such transfers may be made if any of the following conditions apply:
• The European Commission has decided that there is an adequate level of protection in the country in question

• Other appropriate safeguards have been taken, for example the use of the standard contractual clauses (EU model-clauses) approved by the European Commission or the data processor has valid Binding Corporate Rules (BCR) in place

• Exceptions in special situations, such as to fulfil a contract with you or you consent to the specific transfer.

You can access a copy of the relevant EU model-clauses used by Nordea for transfers by going to www.eur-lex.europa.eu and search for 32010D0087


4. How we protect your personal data 
Keeping your personal data safe and secure is important to our business. We use appropriate technical, organizational and administrative security measures to protect any information we obtain from loss, misuse, and unauthorized access, disclosure, alteration and destruction.



5. How long we process your personal data 
We will keep your data for as long as it is needed for the purposes for which your data was collected and processed or required by laws and regulations.
In case we keep your data for other purposes than for the performance of a contract, such as for anti-money laundering, B2B marketing, bookkeeping and regulatory capital adequacy requirements, we keep the data only if necessary and/or mandated by laws and regulations for the respective purpose.
Keep in mind that retention obligations may differ within NAM, subject to applicable local legislation. 



6. Your privacy rights
You as a data subject have rights in respect of personal data we process concerning you. You have the following rights;

Request access to your personal data
You have a right to access to the personal data we are processing about you. Your right to access may, however, be restricted by legislation, protection of other persons’ privacy and consideration for NAM’s business concept and business practices. NAM’s know-how, business secrets as well as internal assessments and material may restrict your right of access.

Request correction of incorrect or incomplete data
If relevant data is incorrect or incomplete, you are entitled to have the data rectified, subject to any restrictions in legislation.

Request erasure
You have the right to request erasure of your data in case:
• You withdraw your consent to the processing and there is no other legitimate reason for processing
• You object to the processing and there is no justified reason for continuing the processing
• You object to processing for direct marketing
• Processing is unlawful
• When processing personal data on minors, if the data was collected in connection with the provision of information society services

Due to the financial sector legislation we are in many cases obliged to retain personal data concerning you during your customer relationship, and even after that, e.g. to comply with a statutory obligation or where processing is carried out to manage legal claims.

Request limitation on processing of personal data
If you contest the correctness of the data which we have registered about you or lawfulness of processing, or if you have objected to the processing of the data in accordance with your right to object, you may request us to restrict the processing of these data to only storage. The processing will only be restricted to storage, until the correctness of the data can be established, or it can be checked whether our legitimate interests override your interests.
If you are not entitled to erasure of the data which we have registered about you, you may instead request that we restrict the processing of these data to only storage. If the processing of the data which we have registered about you is solely necessary to assert a legal claim, you may also demand that other processing of these data be restricted to storage. We may process your data for other purposes if this is necessary to assert a legal claim or if you have granted your consent to this.

Object to processing based on our legitimate interest
You can always object to the processing of personal data concerning you for direct marketing and profiling in connection to such marketing.

Withdraw consent(s) previously given to us at any time
Withdrawal will not affect the lawfulness of processing based on that consent before the withdrawal. Withdrawing consent to processing of personal data needed in order to deliver services and products to you may result in the termination of contractual engagements.

Request data portability
You have a right to receive personal data that you have provided to us in a machine-readable format. This right applies to personal data processed only by automated means and on the basis consent or of fulfilling a contract. Where secure and technically feasible, we may also transmit the data to another data controller.

File complaint with supervisory authorities
You have the right to file a complaint with the supervisory authority in the member state of your habitual residence, place of work or place of the alleged infringement if you believe that the processing of personal data relating to you is unlawful.
Your request to exercise your rights as listed above will be assessed given the circumstances in the individual case.


7. Cookies
We collect, process and analyse data regarding the use of our webpages. Traffic data is data connected to visitors on the webpage and data handled in communication fields for sending, distributing or making messages available.
We use cookies and similar technologies to deliver products and services to you, provide a secure online environment, manage our marketing and provide a better online experience, track our website
performance and to make our website content more relevant to you. The data will not be used to identify individual visitors.
You can set or amend your web browser controls to accept or reject cookies. If you choose to reject cookies, you may still use our websites and some services, however your access to some functionality and areas of our website or services may be restricted substantially.
For more information, see cookies at the footer of our local website Nordea.lu or Nordea.com/am.


8. How changes to this Privacy Policy and the Cookies policy will be made 
We are constantly working on improving and developing our services, products and websites. Consequently, we may change this Data Privacy Policy from time to time. We will not reduce your rights under this Data Privacy Policy or under applicable data protection laws in the jurisdictions we operate. If the changes to the Data Privacy Policy are significant, we will provide a notice when we are required to do so by applicable law. Please review this Data Privacy Policy from time to time to stay updated on any changes.  


9. Contact us 
If you have any questions regarding this policy (e.g. regarding your rights, their use or contact information of relevant Data Protection Authorities), please contact the NAM Data Protection Office directly by sending your message to [email protected] or by sending a letter to: Nordea Asset Management, Data Protection Office, c/o Strandgade 3, PO Box 850, 0900 København K, Denmark.

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October 2019

Notice to Shareholders

Download legal notice

 

NOTICE OF MERGER TO SHAREHOLDERS OF

Nordea Fund of Funds – Multi Manager Fund Balanced

AND

Multi Manager Access II – Sustainable Investing Balanced

____________________________________________

It is brought to the attention of the shareholders of Nordea Fund of Funds – Multi Manager Fund Balanced and Multi Manager Access II – Sustainable Investing Balanced that the board of directors of Nordea Fund of Funds (the “NFOF Board of Directors”) and the board of directors of Multi Manager Access II (the “MMA II Board of Directors”) have decided to merge Nordea Fund of Funds – Multi Manager Fund Balanced (the “Merging Fund”) with Multi Manager Access II – Sustainable Investing Balanced (the “Receiving Fund”) (the ‘’Merger’’).

The Merging Fund together with the Receiving Fund are hereinafter to be referred to as the “Funds”.

The Merging Fund is managed by Nordea Investment Funds S.A. (the “Nordea Management Company”) and the Receiving Fund is managed by UBS Fund Management (Luxembourg) S.A. (the “UBS Management Company”).

The Merger shall become effective on 21 November 2019 (the “Effective Date“).

On the Effective Date, all assets and liabilities of the Merging Fund will be transferred to the Receiving Fund based on the net asset value per share as per 20 November 2019 (the “Reference Date”). 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 of their shares free of charges (except for any charge retained to meet disinvestment costs (as the case may be)) from the date of this notice until 12:00 CET on 12 November 2019 for Receiving Fund shareholders and until 15:30 CET on 12 November 2019 for Merging Fund shareholders, as further described below.

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.

  1. Reasons for and potential benefits of the Merger
    • Whereas UBS Europe SE, being part of the same group as the investment manager of the Receiving Fund, has acquired part of Nordea Bank S.A.’s Luxembourg-based private banking business, the NFOF Board of Directors suggests an amendment of fund offerings by merging the Funds.
    • The NFOF Board of Directors believe that the Merging Fund has limited prospects for growth. The size of the Merging Fund has declined by more than 30% since October last year and a negative trend in assets in the Merging Fund is expected to continue in the time to come and will consequently result in continued operations being economically inefficient.
    • The Receiving Fund was launched by the end of last year and has since seen a solid and continuous inflow.

1.4. The ongoing charges are lower in the Receiving Fund than those charged by the Merging Fund whereof the shareholders in the Merging Fund will benefit from lower costs as a result of the Merger.

  • The Merger should in general provide the benefit of greater fund size and therefore economies of scale, with the expectation that this should enable relatively lower costs in the future compared to the total net asset value.

2.     Key features – similarities and differences

Similarities

  • There are several similarities between the Funds in terms of fund type, investments policy and risk profile as provided in the key features listed in Appendix I. Both Funds are fund of funds that have exposure to a mix of fixed income and equity securities. They have a medium risk profile with a synthetic risk and reward indicator (SRRI) currently of 4. The Funds use no benchmark.
  • The sub-investment manager of the Merging Fund and the investment manager of the Receiving fund are part of the UBS group.

Differences

  • The management company of the Merging Fund is Nordea Management Company while the management company of the Receiving Fund is UBS Management Company.
  • The base currency of the Merging Fund is EUR while the base currency of the Receiving Fund is USD. Following the Merger, Merging Fund shareholders in EUR denominated share classes will therefore have EUR currency hedging costs.
  • The investment objective of the Merging Fund is wealth accumulation i.e. to increase the spending power of the sub‑fund at a moderate rate while accepting the risks of potential loss necessary to achieve this, whereas the Receiving Fund primarily focuses on sustainable investments that seek to align the investment objectives of long-term sustainability criteria and positive contributions to the environment and society, with generating positive financial returns.

2.6. The Receiving Fund applies swing pricing as further described in its prospectus.

2.7. The accounting year of the Merging Fund ends on 31 December each year, while that of the Receiving Fund ends on 31 July each year.

  • The Merging Fund and the Receiving Fund have such other features as further disclosed in Appendix I.

3.     Impact of the Merger

Impact of the Merger on the shareholders in the Merging Fund

  • The Merger will be binding on all the shareholders of the Merging Fund who have not exercised their right to request the redemption of their shares under the conditions and within the timeframe set out in section 4 below, whereby shareholders of the Merging Fund who have not exercised their right, will become shareholders of the Receiving Fund and receive new shares in the share class of the Receiving Fund as illustrated in the table below:

Merging Fund

Receiving Fund

Share class

ISIN

Share class

ISIN

MMFB-BP-EUR

LU0946760294

P-acc EUR-Hedged

LU1852198446

MMFB-BV-EUR

LU1725883364

MMFB-HB-USD

LU0946760708

P-acc 

LU1852198289

MMFB-HB-NOK

LU0946760534

P-acc NOK-hedged

LU2008288875

MMFB-HB-DKK

LU1070648693

P-acc DKK-hedged

LU2008288792

MMFB-HB-GBP

LU0946760450

P-acc GBP-hedged

LU2033265724

MMFB-HBV-GBP

LU1005849721

MMFB-HB-SEK

LU0946760617

P-acc SEK-hedged

LU2008288529

MMFB-HB-SGD

LU1225180519

P-acc SGD-hedged

LU1852198529

MMFB-HB-CHF

LU0946760377

P-acc CHF-hedged

LU1852198362

 

  • The issue of new shares in the Receiving Fund in exchange for shares of the Merging Fund will not be subject to any charge.
  • From the Effective Date, shareholders in the Merging Fund will be subject to the eligibility criteria stipulated in the prospectus of the Receiving Fund, including whereby that shareholders that do not (i) have the shares held directly in a UBS account or (ii) as otherwise decided by the UBS Management Company, will only be able to hold their investment in the Receiving Fund and will not be able to:
  • make additional subscriptions in the Receiving Fund;
  • convert shares into other funds of the Multi Manager Access II (the umbrella); and
  • transfer shares to another person who is not a UBS client.
    • On implementation of the Merger, the net asset value per share in the Merging Fund and the net asset value per share in the Receiving Fund will not necessarily be the same. Therefore, while the overall value of their holding will remain the same, shareholders in the Merging Fund may receive a different number of new shares in the Receiving Fund than the number of shares they had previously held in the Merging Fund.

Impact of the Merger on the Funds and their shareholders

  • All costs by reason of the Merger (except for any dealing costs) will be borne by the Nordea Management Company and/or UBS Management Company, including legal, advisory, accounting and other administrative expenses.
  • The portfolio of the Merging Fund will be sold and as at the Reference Date will be in cash.
  • The Merger will result in an inflow of cash into the Receiving Fund. The cash will subsequently be invested according to the Receiving Fund’s investment policy.
  • The Merger is not intended to 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 before or after the Merger takes effect.

4.     Suspension in dealings

For the shareholders in the Merging Fund

  • Shares of the Merging Fund can be subscribed until 12 November 2019 before 15:30 CET. After 15:30 CET on 12 November 2019 the possibility to subscribe for shares in the Merging Fund will be suspended.
  • Shares of the Merging Fund can be redeemed, less any local transaction fees that might be charged by independant local intermediaries until 12 November 2019 before 15:30 CET. After 15:30 CET on 12 November 2019, the possibility to redeem or convert shares in the Merging Fund will be suspended.

For the shareholders in the Receiving Fund

  • The shareholders of the Receiving Fund shall not be impacted by the suspension in dealings in the Merging Fund and Shares of the Receiving Fund can be redeemed or converted in accordance with the prospectus of the Receiving Fund. Shares of the Receiving Fund can be redeemed or converted free of charge, except for any charge retained to meet disinvestment costs (as the case may be), from the date of this notice until 12:00 CET on12 November 2019.

4.4 Shares of the Receiving Fund can be subscribed during the whole merger process.

5.     Rebalancing of the portfolio of the Merging Fund and the Receiving Fund before or after the Merger

  • It is expected that the Merging Fund will transfer cash to the Receiving Fund. The cash will subsequently be invested according to the Receiving Fund’s investment policy.
  • The Merger is not intended to have any material impact on the portfolio of the Receiving Fund and it is not intended to undertake any rebalancing on the portfolio of the Receiving Fund before or after the Merger.

6.     Risk of dilution in the performance

As the assets of the Merging Fund will be sold prior to the Effective Date, the composition of the portfolio of the Merging Fund will be significantly impacted by the merger. This merger may involve a risk of performance dilution stemming from the restructuring of the portfolio of the Merging Fund.

7.     Criteria adopted for valuation of the assets and liabilities in order to calculate the exchange ratio

  • Nordea Management will calculate the net asset value per share class of the Merging Fund and UBS Management Company (or its delegate) will calculate the net asset value per share class of the Receiving Fund as of the Reference Date. UBS Management Company (or its delegate) will calculate the exchange ratio on the basis of the net asset value per share of the Merging Fund and the Receiving Fund.
  • The rules laid down in the articles of incorporation and the prospectus of Nordea Fund of Funds for the calculation of the net asset value will apply to determine the value of the assets and liabilities of the Merging Fund for the purpose of calculating the exchange ratio.
  • The rules laid down in the articles of incorporation and the prospectus of Multi Manager Access II for the calculation of the net asset value will apply to determine the value of the assets and liabilities of the Receiving Fund for the purpose of calculating the exchange ratio. Single Swing Pricing as described in the prospectus of Multi Manager Access II will be applied on a pro rata basis on any cash portion of the assets to be merged into the Receiving Fund, provided that it exceeds the threshold as defined for the Receiving Fund.

8.     Calculation method of the exchange ratio

  • The number of new shares in the Receiving Fund to be issued to each shareholder will be calculated using the exchange ratio calculated on the basis of the net asset value of the shares of the Merging Fund and of the shares in the Receiving Fund.. The relevant shares in the Merging Fund will then be cancelled.
  • The exchange ratio will be calculated as follows:
  • The net asset value per share of the relevant share class of the Merging Fund is divided by the net asset value per share of the corresponding share class in the Receiving Fund.
  • The applicable net asset value per share of the Merging Fund and the net asset value per share of the Receiving Fund will be those as of the Reference Date.
    • The issue of new shares in the Receiving Fund in exchange for shares of the Merging Fund will not be subject to any charge.
    • No cash payment shall be made to shareholders in exchange for the shares.

9.     Additional documents available

  • Shareholders have access to the following documents of the Merging Fund at the registered office of Nordea Management Company and of the Receiving Fund at the registered office of UBS Management Company:
  • A copy of the report of the auditor validating the criteria adopted for valuation of the assets and, as the case may be, the liabilities and the calculation method of the exchange ratio as well as the exchange ratio);
  • the prospectus; and,
  • the KIIDs.
    • 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 on https://www.ubs.com/lu/en/asset-management/distribution-partners/funds-prices/kiid.html

10.  Tax

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.

11.  Additional information

Shareholders having any question relating to the above changes should not hesitate to contact their financial advisor or the Nordea Management Company’s department for Client Relationship Services at the following telephone number: +352 27 86 51 00.

Yours faithfully

On behalf of the NFOF Board of Directors and the MMA II Board of Directors

7 October 2019

Appendix I

Key features of the Merging Fund and of the Receiving Fund

 

The Merging Fund

The Receiving Fund

Investment objective

The aim of the Merging Fund is wealth accumulation i.e. to increase the spending power of the Merging Fund at a moderate rate while accepting the risks of potential loss necessary to achieve this.

Investment objective

The Receiving Fund’s objective is to seek long-term real returns by investing in target UCIs or via dedicated portfolios primarily focusing on sustainable investments, i.e. strategies that seek to align the investment objectives of long-term sustainability criteria and positive contributions to the environment and society, with generating positive financial returns. 

Investment policy

The Merging Fund invests its net assets in other target funds of the open-ended type. The Merging Fund invests between 30% and 70% of its net assets value in equity funds. The remaining part of the portfolio will be invested in target funds primarily investing in debt securities, cash and other transferable securities.

In addition, the Merging Fund may seek to capture market opportunities, notably by investing in country- or industry-specific funds, including open-ended exchange traded funds.

The Merging Fund can choose between a very wide range of investment funds in order to compose a portfolio which offers the ideal mix of risk and return. The composition of the portfolio depends on the market expectations of the investment manager and will reflect the recommended asset composition at any time for Investors with a certain risk profile.

Investment policy

The Receiving Fund invests worldwide on a broadly diversified basis in fixed income and equity securities.

The Receiving Fund may invest up to 100% of its net assets in target UCIs. For liquidity purposes, the Receiving Fund may also hold money market instruments, cash or cash equivalents. 

Derivatives and techniques

The Merging Fund may use derivatives for hedging (reducing risks) or in order to apply efficient portfolio management techniques.

Derivatives and techniques

The Receiving Fund may use derivatives which can reduce investment risks or increase risks (e.g. risk of failure of a counterparty).

Suitability and investor profile

The Merging Fund is suitable for investors with a medium risk profile and who considers investment funds as a convenient way of participating in capital market developments.

The investor prefers some stability and more average returns.

Suitability and investor profile

The Receiving Fund is suitable for investors who wish to be exposed to investments in securities with a sustainability profile.  

The Receiving Fund may appeal to investors who can afford the risks involved, who have a long-term investment horizon and want to invest in a broadly diversified portfolio of securities.

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 4. 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:

·         Counterparty risk

·         Derivatives risk

·         Event risk

·         Liquidity risk

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 4. This means that the purchase of units in the Fund is connected to medium risk of such fluctuations.

The Receiving Fund may be subject to substantial fluctuations. Factors that can trigger fluctuations or influence their extent include but are not limited to:

·         Changes affecting specific companies

·         Changes in interest rates

·         Changes in exchange rates

·         Changes in the prices of raw materials and energy resources

·         Changes affecting economic factors such as employment, public expenditure, indebtedness and inflation

·         Changes in the legal environment

·         Changes in the confidence of investors in certain asset classes (e.g. equities), markets, countries, industries and sectors

·         Changes in securities lending rates

Investment manager: Nordea Investment Management AB

 

Benchmark: None

 

Base currency: EUR

Investment manager: UBS Switzerland AG

 

 

Benchmark: None

 

Base currency: USD

Fees and charges

 

1.      Performance fee

Nil

2.     Entry and exit charges:

Entry charges: Up to 2.00 %

Exit charges: Up to 1.00%

3.       Ongoing charges

Fees and charges

1.     Performance fee

Nil

2.     Entry and exit charges:

Entry charges: Up to 6.00 %

Exit charges: None

3.       Ongoing charges

Share class

ISIN

Ongoing charges

Share class

ISIN

Ongoing charges

MMFB-BP-EUR

LU0946760294

2.09%

P-acc EUR-Hedged

LU1852198446

1.77%

MMFB-BV-EUR

LU1725883364

2.26%

MMFB-HB-USD

LU0946760708

2.09%

P-acc 

LU1852198289

1.77%

MMFB-HB-NOK

LU0946760534

2.10%

P-acc NOK-hedged

LU2008288875

1.77%*

MMFB-HB-DKK

LU1070648693

2.09%

P-acc DKK-hedged

LU2008288792

1.77%*

MMFB-HB-GBP

LU0946760450

2.10%

P-acc GBP-hedged

LU2033265724

1.77%*

MMFB-HBV-GBP

LU1005849721

2.10%

P-acc SEK-hedged

LU2008288529

1.77%*

MMFB-HB-SEK

LU0946760617

2.10%

MMFB-HB-SGD

LU1225180519

2.07%

P-acc SGD-hedged

LU1852198529

1.76%

MMFB-HB-CHF

LU0946760377

2.08%

P-acc CHF-hedged

LU1852198362

1.77%

*Estimated ongoing charges

 

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