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Fee change in SKAGEN m2 C share class

On 12 February 2018, a change will be made to the fee in the C share class of the equity fund SKAGEN m2.

Date: 06/02/18

The Norwegian Financial Services Authority (Finanstilsynet) has approved the change in fee for the C share class. The fees for SKAGEN m2 A and B will remain unchanged.

SKAGEN m2 is marketed in several European markets. It is common practice in many of these markets to offer an asymmetrical fee model with a high watermark tied to the performance fee component rather than having a symmetrical fee model with a minimum and maximum fee. In order to meet requests for an asymmetrical fee model, mainly from fund distributors and professional clients, SKAGEN has decided to change the fee model in the existing share class, SKAGEN m2 C.

SKAGEN m2 A and SKAGEN m2 C will both have a fixed fee of 1.5%, and a minimum subscription amount of NOK 250. The difference between the two share classes lies in the calculation of the variable fee. The A share class has a symmetrical fee model, which means that negative performance reduces the management fee on a daily basis. The minimum fee of the A share class is 0.75%. The C share class has an asymmetrical fee model with a minimum fee of 1.5%, but with a high watermark linked to the performance fee. Both share classes have a maximum fee of 3%. Which share class will have the most favourable fee will vary from year to year depending on the fund's performance.

Unit holders who would like more information about the approval process may contact us by telephone on +47 51 80 39 00 or by sending an email to legal@skagenfunds.com.

The new fee in SKAGEN m2 C will be come into effect on 12 February 2018.

 

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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