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Report of income for UK tax purposes for SKAGEN funds

Date: 14/10/24

The class of shares listed below are registered with HM Revenue & Customs in the UK as "reporting funds".  As such, the funds are required to make reports of income to the investors. As an investor in one of the below share classes, there may be a requirement for you to pay tax as though you had actually received a distribution from the fund.

The following SKAGEN funds have reporting status:

  • SKAGEN Global Verdipapirfond (class A and B)
  • SKAGEN Kon-Tiki Verdipapirfond (class A and B)
  • SKAGEN m2 Verdipapirfond (class A and B)

If you are not subject to UK taxation, you may ignore this notice. If you are subject to UK taxation (unless you are a non-domiciled individual paying tax on the remittance basis), you will be required to pay tax on the share of income reported to you in this notice. If you are uncertain you should seek advice from your tax advisor.

For UK tax purposes, you are treated as receiving income on the "Fund distribution date" in (d) below. You should therefore include this income in your tax return for the tax year which includes that date.

The amount of income treated as received by you will be the "Excess" reported in (b) below, multiplied by the number of shares you held at.

The table below comprises the report of income as required for UK purposes, with the columns having the following meanings:

Report to investors:

a) Amount actually distributed to participants per share

b) Excess of reported income per share over amount actually distributed

c) Dates on which distributions were made

d) Fund distribution date

e) The fund continues to be a reporting fund at the present date

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The following SKAGEN funds** have reporting status:

Fund Unit class ISIN Effective date

SKAGEN Global A NO0008004009 01.01.2010

SKAGEN Global B NO0010679012 01.01.2014

SKAGEN Kon-Tiki A NO0010140502 01.01.2010

SKAGEN Kon-Tiki B NO0010679038 01.01.2014

SKAGEN m2 A NO0010657356 31.10.2012

SKAGEN m2 B NO0010708712 30.05.2014

** Units in issue in SKAGEN Global and SKAGEN Kon-Tiki were renamed SKAGEN Global A and SKAGEN Kon-Tiki A with effect from 1 January 2014. Units in issue in SKAGEN m2 were renamed SKAGEN m2 A with effect from 30 May 2014.

Notices of withdrawal from the UK reporting fund regime for the following funds:

SKAGEN Focus

SKAGEN Vekst

SKAGEN Global II

 

Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skills, the fund’s risk profile and management fees. The return may become negative as a result of negative price developments. There is risk associated with investing in funds due to market movements, currency developments, interest rate levels, economic, sector and company-specific conditions. The funds are denominated in NOK. Returns may increase or decrease as a result of currency fluctuations. Prior to making a subscription, we encourage you to read the fund's prospectus and key investor information document which contain further details about the fund's characteristics and costs. The information can be found on www.skagenfunds.com. Storebrand Asset Management administers the SKAGEN funds which are by agreement managed by SKAGEN's portfolio managers.

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