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Update to fund pricing policy

SKAGEN's trading calendar to be modified from 2021

Date: 22/12/20

SKAGEN today announces an update to its fund pricing policy that will see funds closed for price setting, subscription and redemption on days when markets in which a significant part of the portfolio is invested are closed. The new policy replaces 'fair value pricing' which used a discretionary valuation when markets in which portfolio holdings were traded were closed. The funds will remain closed on Norwegian public holidays.

The updated policy will be implemented for all SKAGEN's Norwegian-domiciled funds from 4 January 2021. It will align SKAGEN with the Storebrand Group policy and wider industry practice. Our Luxembourg-domiciled funds managed under the Storebrand SICAV already follow the new policy and will therefore be unaffected by the change.

 

2021 trading calendar

SKAGEN funds' trading calendar for 2021 is listed below. Any changes will be published on the SKAGEN website at www.skagenfunds.com.

Currently only SKAGEN Global's pricing will be affected by the new policy as the fund has a significant part of its portfolio invested in US markets and will therefore be closed on US public holidays.

NASDAQ trading unaffected by new pricing policy

The pricing of SKAGEN funds traded on NASDAQ Copenhagen is set by market makers and the trading calendar will be unaffected by the new policy. The funds will remain open and will continue to use fair value pricing when markets in which portfolio holdings are traded are closed.

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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