The shareholders of Nordea 1, SICAV („the Company“) are hereby informed of the following changes that will be implemented in the prospectus of the Company (“the Prospectus”) with effect from 15th January 2010 (the “Effective Date”), unless a different date is defined for individual changes hereafter:
With regard to the Sub-fund “Global Core Equity Fund”, the name of the Sub-fund will change to “Global Stable Equity Fund – Unhedged”. The Sub-fund will no longer have a reference index against which to compare its performance, and the investment objective has been reworded as follows:
“This Sub-fund aims to preserve the Shareholder’s capital and to provide an adequate rate of return on the investment. The investment manager will focus, within the investment limits described below, on equities providing a potential of stable return over a time span of several years.”
The investment policy has been reworded as follows:
“This Sub-fund shall invest globally and shall invest a minimum of two-thirds of its total assets (after deduction of cash) in equities, other equity shares such as co-operative shares and participation certificates (equities and equity rights), dividend-right certificates, warrants on equities and equity rights.
This Sub-fund may invest up to one-third of its total assets world wide in bonds and other debt instruments denominated in various currencies and warrants on bonds.
Within the above-mentioned restrictions and the Company’s general investment restrictions, this Sub-fund will invest its assets in companies world wide offering the best potential for generating stable returns over a long-term horizon. The main focus will be equities with stable historical financial figures and with low or fair valuation.
This Sub-fund may accessorily hold liquid assets in all currencies in which investments are effected as well as in the currency of its respective share Class(es) and/or Sub-class(es).
For this Sub-fund the use of derivatives is limited to efficient portfolio management within the limits imposed by the investment restrictions of the Company. “
The investment management fee for the BI-Share Class is increased from 0.5% p.a. to 0.85% p.a.
With regard to the Sub-fund “Corporate Bond Fund”, the name of the Sub-fund will change to “European Corporate Bond Fund”. The investment policy is reworded as follows.
“This Sub-fund shall invest a minimum of two-thirds of its total assets (after deduction of cash) in corporate bonds with fixed coupon or fixed and contingent coupon or variable coupon. The Sub-fund shall focus on corporate bonds issued by companies which are domiciled or exercise the predominant part of their economic activity in Europe.”
“The Sub-fund may as well enter into derivative contracts for the purpose of reducing the duration of its portfolio or for the purpose of bringing the portfolio’s duration closer to that of the Sub-fund’s reference index. Such derivative contracts will then typically include bond futures or bond index futures, where the underlying assets may not be limited to corporate bonds.”
With regard to the Sub-fund “Multi-Asset Fund”, the Sub-fund’s investment policy will include mortgage-backed securities and asset-backed securities, together up to a combined limit of 20% of the Sub-fund’s net assets. The investment policy will also include the indirect purchase and selling of Exchange Traded Funds via Contracts for Difference, which, combined with direct investments into Exchange Traded Funds, are together subject to the investment restrictions stated in the Prospectus.
The investment management fee for the BI-, HBI SEK- and HBI NOK-Share Classes is increased from 0.5% p.a. to 1.00% p.a.
With regard to the Sub-fund ”Euro Bond Fund”, the investment policy is reworded as follows:
“For investment or efficient portfolio management purposes, particularly for the purpose of managing the Sub-fund’s duration, the Sub-fund may make use of futures, including, but not limited to, bond futures. For the purpose of hedging the Sub-fund’s credit risk, the Sub-fund may enter into credit default swaps. Any further use of derivatives is limited to hedging of the Sub-fund’s net assets in relation to the composition of the reference index used.”
Shareholders who do not agree to the changes as described above may redeem their Shares free of any charges. Such instruction must be received in writing by Nordea Bank S.A. at the below address by 14th January 2010, 15:30 CET at the latest.
An updated version of the Prospectus dated January 2010 may be obtained, free of any charges, at the Registered Office of the Company or Nordea Bank S.A. at 562, rue de Neudorf, L-2220 Luxembourg, Grand Duchy of Luxembourg.
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, 15th December 2009
The Board of Directors of Nordea 1, SICAV
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