Four funds to discontinue as independent funds
Four Danske Invest funds will be merged into other existing funds, ensuring that investor contributions will continue to be invested in our funds.
Danske Invest aims to make its fund universe less complex by merging funds with limited investor focus or which no longer add sufficient value to our investors. Consequently, Danske Invest has resolved to merge a number of funds:
Danske Invest SICAV Germany will be merged into Danske Invest SICAV Europe Small Cap
As a result of the merger, your investment in German stocks through Danske Invest SICAV Germany will henceforth become a broader investment in European small cap stocks through Danske Invest SICAV Europe Small Cap. In the Europe Small Cap fund, investors will have access to a larger universe of European small cap companies, thus providing broader investment opportunities. The risk involved in your investment will be more diversified geographically. Going forward, the annual current administrative expenses will be 0.20 of a percentage point higher (1.90% against 1.70% in Danske Invest SICAV Germany), because a broader investment in European small cap stocks involves higher research costs.
Danske Invest SICAV Sverige Fokus will be merged into Danske Invest SICAV Sverige Småbolag
As a result of the merger, your investment in Swedish stocks through Danske Invest SICAV Sverige Fokus will henceforth be an investment in Swedish small cap stocks through the Danske Invest SICAV Sverige Småbolag fund. Swedish small cap companies represent a larger investment universe, providing greater investment opportunities. The costs of your investment will be unchanged.
Danske Invest SICAV Sverige Europa will be merged into Danske Invest Allocation Horisont Aktie
As a result of the merger, your investment in Swedish and European stocks through Danske Invest SICAV Sverige/Europa will henceforth be a broader investment in Swedish and global stocks in the Danske Invest Allocation SICAV Horisont fund. By investing globally, investors gain access to a larger investment universe, providing greater investment opportunities. Going forward, the annual current administrative expenses will be 0.10 of a percentage point higher (1.62% against 1.52% in Danske Invest SICAV Sverige Europa), partly because the broader investment focus involves higher research costs. In return, the risk involved in your investment will be more diversified geographically.
Danske Invest SICAV Stable Income will be merged into Danske Invest SICAV Multi Asset Inflation Strategy
As a result of the merger, your investment in Danske Invest Allocation SICAV Stable Income, a mixed portfolio of stocks and bonds, will henceforth be in the Danske Invest SICAV Multi Asset Inflation Strategy fund. Both funds target stable returns. The Multi Asset Inflation Strategy fund also targets real returns, i.e. inflation protection. The annual current administrative expenses will be 1.17%. By comparison, the annual current administrative expenses in Danske Invest SICAV Stable Income were 1.00%, but in that fund investors also paid a performance-based fee depending on the return performance. For the most recent financial year (2017), the performance-based fee was 0.39%. In the Multi Asset Inflation Strategy fund, investors will not pay an annual performance-based fee.
If you wish to learn more about the changes
The mergers take effect on 15 March 2019. For more information, please see the shareholder notice below.
Danske Invest SICAV
Danske Invest Allocation
During the period from 7 February to 7 March 2019, investors may sell their investment certificates in discontinuing funds without having to pay trading costs.
