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 6 September 2010 (the Effective
Date), unless a different date is defined for individual changes hereafter:
With regard to the Company:
The definition of ‘Business Day’ has been amended as follows: ‘Each day
Nordea Bank S.A. is open for business. Nordea Bank S.A. is closed for business
on all legal holidays and bank holidays in Luxembourg, on December 24, and on
Good Friday. In addition, Nordea Bank S.A. may be closed on other days as determined
by Nordea Bank S.A.
Shareholders will be notified about closure for this latter reason as
prescribed by the law’.
The definition of ‘Valuation Date’ has been amended as follows: ‘If the
valuation date falls on a day which is not a business day or a bank holiday in
Luxembourg or in a market which is the principal market for a significant part
of a sub-fund’s investment, the valuation date will be the next business day
which is not a bank holiday in Luxembourg or in a market affecting the
sub-fund’.
With regard to certain sub-funds of the Company:
The
reference index will change to ‘Nordea Constant Maturity 5-Year Government Bond
Index.’
The reference index has been removed and the investment policy will be
modified accordingly. The management fee for share classes AI, HAI EUR, and BI will
be increased from 0.2% to 0.3%.
The investment policy will be supplemented with the following sentences:
‘The sub-fund is entitled to invest up to 100% of its net assets in Rule 144a
securities, provided that:
such securities comply with part 17 of “CESR’s guidelines concerningeligible assets for
investment by UCITS” dated March 2007.
Investment into Rule 144a securities that fails to comply with the above
conditions and transferrable securities eligible under chapter “Investment
Restrictions” section B(1) of the Prospectus cannot exceed 10% of the
sub-fund’s net asset value.’
In addition, the investment policy has been modified to the extent that no
more than a third of the sub-fund’s net assets can be invested into a
combination of money market instruments and/or government bonds.
The investment policy will be amended as follows: ‘In view of the Company’s
general investment restrictions, the sub-fund is also entitled to invest into
funds traded on the stock exchange which directly or indirectly invest into either
shares or commodities’.
The definition of ‘Performance Fee’ has been supplemented as follows: ‘If
on any valuation date there are more shares redeemed than acquired, it shall be
considered that the Management Company is entitled to the fee in proportion to
the previous year’s performance accruals related to these net redeemed shares, irrespective
of the performance of the sub-fund after the net redemption.
Entitlement to the performance fee arises only if the following two
conditions are met:
1) the net asset value per share in the relevant calendar year has exceeded
the hurdle rate or on any valuation date there are more shares redeemed than
acquired and the net asset value per share has exceeded the hurdle rate during
the period starting at the beginning of the calendar year and finishing on the
valuation date when the redemption price is fixed;
2) the net asset value per share has exceeded the previous all-time high
year-end net asset value per share’.
● Nordea 1 - European High Yield Bond Fund
The management fee for retail share classes AP, BP, E, HB SEK, and HB NOK will be
increased from 0.85% to 1%.
● Nordea 1 - US High Yield Bond Fund
The investment policy will be changed to the extent that no more than a
third of the sub-fund’s net assets can be invested into a combination of money
market instruments and/or government bonds.
● Nordea 1 - Latin American Equity Fund
The name of the investment sub-manager has been changed from Banco Itaú S.A
to Itaú Unibanco S.A.
● Nordea 1 - European Value Fund
Changes with respect to the consultant: the consultant European Value
Partners Advisors S.à.r.l. (Luxembourg)
will be replaced by the consultant European Value Partners Advisors AG (Zurich, Switzerland),
which subsequently will appoint European Value Partners Advisors S.à.r.l. as
its sub-consultant.
● Nordea 1 - US Corporate Bond Fund
The name of the reference index will be changed from Barclays Capital US
Credit Bond Index to Barclays Capital US Credit Index.
Shareholders who do not agree to the changes as
described above may redeem their shares free of charge. Such instructions must
be submitted in writing to Nordea Bank S.A. at the address below by 3 September
2010, 15:30 CET at the latest.
The updated version of the Prospectus dated September
2010 may be obtained free of charge at the registered office of the Company or
Nordea Bank S.A. at 562, rue de Neudorf, L-2220 Luxembourg, Grand Duchy of
Luxembourg.
Investors having any questions regarding the above
changes should not hesitate to contact their financial advisor or the Customer
Services Unit of Nordea Investment Funds S.A. by calling +352 43 39 50 - 1.
Luxembourg,
6 August 2010
The Board of Directors of Nordea 1, SICAV
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