Starting today, SEB can offer investors ten additional funds from external fund managers. This represents a 100 per cent increase since 4 December last year, when SEB first started selling ten funds from managers outside the bank's own range. As of 2 May 2001, SEB is selling four funds from Goldman Sachs, two from Fleming and three from Fidelity (that makes nine, maybe one from Mercury?). To meet the major demand for external fund products, SEB has decided to double its customers' opportunities to invest in funds other than the bank's own.
The new funds that will start to be sold today are Fleming China, Fleming Pacific, Mercury Global Equity, Goldman Sachs Global Equity, Goldman Sachs Global Consumer Growth Portfolio, Goldman Sachs Global Financial Services, Global Sachs Global High-Yield Portfolio - Euro Hedged Share Class, Fidelity European Smaller Companies Fund, Fidelity International Fund and Fidelity European Growth.
"Our customers have expressed interest in external fund products for some time. That is why SEB decided to initiate this type of operation at the end of last year. External fund business has developed favourably in a very short time, with many new customers and a substantial net asset value. Now SEB External Funds is doubling its range in order to meet customer demands for a greater range of external products," says Bengt Bergholtz, Head of SEB External Funds.
The price for managing the funds varies between 1.0 and 1.75 per cent.
In the past, SEB has sold external funds from Merrill Lynch, Pictet, Schroder, Fidelity, ACM and Barings.