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Fact sheet as of July 01, 2021

SEB Eastern Europe ex Russia Fund

The fund focuses on equities in markets throughout emerging Europe excluding Russia. These are markets which have recently joined the EU or have stated their intentions to do so.

Fund manager: Pavel Lupandin

Investment Philosophy

The investment team believes that the emerging European markets are inefficient, thus making it possible to add value for investors by utilising a bottom-up, stock-picking process. The team examines the business models, key values and growth drivers of selected companies as part of their search for companies that offer reasonable growth perspectives. Consequently, the team picks stocks from sectors rather than taking a country-focused approach.

Key Facts

key	value
Base Currency	EUR
Share Class	C (EUR)
ISIN-code	LU0070133888
Benchmark	MSCI EFM Europe...
Year of launch	1996
Value at launch (EUR)	1.00
Legal Structure	UCITS
Fund Management Company	SEB Investment Management AB
Turnover Ratio*	0.62

* 12 months rolling, last updated 31 May 2021

Dividend

The share class does not pay dividends; the return is reinvested

Costs

key	value
Management Fee	1.75
Ongoing Charges*	1.82
Entry Fee	Max 5%

* The ongoing charges includes the management fee and constitutes payment for fund management, including marketing and distribution. The ongoing charges does not include transaction costs such as brokerage commissions on securities transactions.

Risk Measures

No risk measures are calculated due to insufficient history

Investment Process

Investment universe

This actively traded equity fund focuses on convergence countries in the emerging European region. The majority of the fund’s assets - equities and equity-related transferable securities - are issued by companies listed or traded on a regulated market in the eligible countries or derive at least 40 percent of sales or profits from one or more of the countries eligible for investment. The fund manager seeks to outperform the return of the MSCI Converging Europe Custom 10/40 EUR Net Return Index, a customised reinvesting equity index concentrating on the same region. The fund’s performance can deviate significantly from the index. Derivatives may be used to achieve the investment objectives and facilitate the management of the fund.

Investment team

The fund is managed by SEB’s Eastern European team, based in Tallinn, Estonia. Fund manager Alo Kullamaa is responsible for the fund’s ongoing strategy, portfolio construction and performance. He is supported by sector specialists.

Research

The team applies a stock-picking approach, concentrating on analysing single-company fundamentals. The team seeks undervalued companies with interesting business opportunities and aims to identify emerging trends in company financials at an early stage. The team also follows company meetings and corporate governance trends and issues. Companies that refine and improve their corporate governance are a significant value-creating factor throughout the investment region. The team also reviews sell-side research to identify relevant information.

Portfolio construction

The portfolio is based primarily on stock-picking within sectors. Sector and country allocation are the result of stock-picking to a great extent. The fund typically includes 70 to 100 stocks. New investment alternatives can act as sell triggers; positions are also exited when deterioration in company financials is of a sustained nature.

Performance

Currency: EUR | NAV: 3.34 (7/1/2021) | AuM (M EUR) : 84.50 (5/31/2021)

	Fund EUR	Benchmark
Return % EUR	Fund	Benchmark
Accumulated since
1 day	1.1	1.1
1 month	-0.1	-0.1
3 months	12.7	13.3
6 months	18.4	13.9
1 year	29.9	24.9
3 years	5.8	8.6
5 years	29.5	34.9
Year to date	-	-
Average annual growth
3 years	1.9	2.8
5 years	5.3	6.2

Currency

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Largest Positions*

% of Total

	% of Total
Powszechna Kasa Oszczednosci Bank Polski	7.7
Bank Pekao SA	7.5
OTP Bank	5.8
Addiko Bank AG	5.7
Powszechny Zaklad Ubezpieczen	5.1
KGHM Polska Miedz SA	4.5
Richter Gedeon Nyrt	4.3
Komercni banka	4.0
BRD-Groupe Societe Generale	3.3
LPP	3.1

* Last updated 31 Mar 2021. Source: SEB

* Numbers are absolute, not relative

Geographic Allocation*

* Last updated 31 May 2021. Source: SEB

* Numbers are absolute, not relative

Other Information

As of 2 November 2016, the fund´s Management company is SEB Investment Management AB. The fund changed its benchmark to MSCI Converging Europe Custom 10/40 Net Return May 2, 2011. Previous benchmark was Nomura CEE ex Russia NR.

All figures net of fees.

This material is prepared by SEB and contains general information regarding financial instruments marketed, sold or solicited by SEB. SEB is the global brand name for Skandinaviska Enskilda Banken AB (publ), its subsidiaries and affiliated companies. Neither this material nor the products described in it are intended for distribution or sale in the United States or to US persons, and any such distribution is not allowed. The offering of shares or units in the funds may also be restricted in other jurisdictions. This document may not be used to make an offer or solicitation with respect to the sale of shares or units where such an offer or solicitation is unlawful. Although the information in this material is based on sources deemed by SEB to be reliable, SEB assumes no liability whatsoever for incorrect or missing information or for any loss, damage or claim arising from the use of this material. Past performance does not guarantee future performance. The value of investment funds and other financial instruments may rise as well as fall and there is no guarantee you will recover your original investment. If you or a fund invests in financial instruments denominated in a foreign currency, changes in currency exchange rates can affect the return on the investment. SEB makes no representation that funds whose share or unit classes aim at hedging the fund’s return from changes in currency exchange rates will succeed in achieving this. Any tax information in this material is based on regulations valid as per the date of this presentation and may be subject to change. Note that any tax information in this material is general. Kindly contact your SEB investment advisor for tax and investment advice appropriate for your situation. You are fully and solely responsible for your investment decision. This material is not intended for or suitable as the sole basis for investment decisions. Instead, you should base your decision on the information in the fund’s product documentation, including its fact sheet, Key Information Document, fund regulations and prospectus. These are available on www.sebgroup.lu/funds.

Tuesday, December 5, 2023 7:48:42 PM