Due to the sanctions against Russia, Danske Invest’s Responsible Investment Policy in the light of the war in Ukraine, and suspended trading on the Moscow Exchange and related liquidity constraints, the Board of Danske Invest SICAV has decided to liquidate the Danske Invest SICAV Eastern Europe sub-fund. Given the escalation of the conflict and challenges related to the liquidity of the fund’s investments and the settlement of transactions, Danske Invest SICAV’s Board does not consider reopening the sub-fund to be in the best interests of the unit holders. Moreover, the value of the fund’s net assets is low and not expected to grow in the near future.
The liquidation process will begin on 28 April 2022 or at a later date to be decided by the Board of Danske Invest SICAV. Considering the fund’s current portfolio composition and the exceptional circumstances, the Board is unable to anticipate the closing date of the fund’s liquidation process. The Board will proceed with the liquidation in accordance with the applicable laws and regulations of Luxembourg. The costs associated with the liquidation will be borne by the fund’s management company, Danske Invest Management A/S, which has decided to waive its management fee for the sub-fund as of 26 February 2022.
Mandatum will update its customers on the fund’s liquidation process in writing.
Read more about the fund’s liquidation link to Danske Invest’s website.