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SEB’s funds intend to sell all Russian holdings

Overall, SEB’s funds managed by SEB Investment Management has limited exposure to the Russian market, and the bank’s intention is to sell those holdings as soon as market conditions allow. Only a limited number of the bank’s funds that have direct holdings in the Russian market.

Russia's invasion of Ukraine has, in addition to the serious humanitarian consequences, led to very strong movements in the world's capital markets. A week has now passed since the Russian stock exchange (MOEX) closed due to Russia's invasion of Ukraine.

SEB plans to sell the Russian holdings in a responsible and controlled manner to protect the interests of fund unit holders. When and how this will be done is still very uncertain, due to the closure of the Russian market.

SEB Östeuropafond and SEB Eastern Small and Mid Cap Fund, have been closed for trading since 28 February. The funds were closed as their exposure to the Russian market was too large to be able to make a correct valuation of the funds' holdings and to protect the interests of unit holders. At the close on 28 February, the two funds' exposure to the Russian market was approximately 35–40 per cent. That exposure is currently judged to be lower.

SEB has another seven funds with direct exposure to the Russian market. The exposure in these funds is less than 1 per cent of the value of the funds. Therefore, the valuation of the funds has not been significantly affected and the funds have been able to be kept open for trading.

Further details from SEB Investment Management