Nordkinn Asset Management AB (Nordkinn) hereby informs of changes in the fund statutes
Nordkinn herby informs that the Swedish FSA (Finansinspektionen) has approved certain amendments in the fund statutes for
Nordkinn Fixed Income Macro Master Fund (“Master Fund”)
Nordkinn Fixed Income Macro Fund (SEK) A
Nordkinn Fixed Income Macro Fund (NOK) B
Nordkinn Fixed Income Macro Fund (EUR) C
Nordkinn Fixed Income Macro Fund (SEK) D
Nordkinn Fixed Income Macro Fund (NOK) E
Nordkinn Fixed Income Macro Fund (USD) G
Nordkinn Fixed Income Macro Fund (SEK) I
(all funds other than the “Master Fund” are collectively called ”Feeder Funds”)
The amendment in the fund statutes of the Master Fund include a change in expected ‘range’ for the expected risk level of the Master Fund. As measured by 24-month rolling annualised standard deviation, the risk level ‘range’ is expected between 2 and 8 percent (previously 4 to 8 percent). This change is explained by the massive stimuli from central banks over the past years having effected the dynamics of the financial markets. The central bank monetary programs have had significant impact on at both interest rates as well as market volatility, both of which have fallen meaningfully. As Nordkinn’s assessment is that these market conditions may persist, it is reasonable to adjust the ‘range’ to more appropriately express the expected risk level of the Master Fund. This change does not result any changes in the Master Fund’s investment policy nor how risk is taken.
The following changes have been made to the fund statutes of the Feeder Funds:
– The range of the Feeder Funds’ expected risk level has changed the same way as for the Master Fund (please see details above).
– Unit-holders will be able to request subscriptions and redemptions by other means than by using Nordkinn’s own subscription and redemption forms. More details about this can be found in the Offering Memorandum.
– Requests for subscriptions and redemptions must be received by Nordkinn no later than 15.00 four Banking Days before the “Trading Day” (thus regardless of the date of subscription or redemption being a full Banking Day or half-Business Day, which had relevance previously).
– Nordkinn may accept, in exceptional cases, subscriptions even if such may be registered on the Feeder Fund’s bank account later than four Banking Days before the “Trading Day”.
– When calculating performance fees, Nordkinn will round off the number of shares and the amount of the fee to two decimal places (upwards or downwards). In the past, Nordkinn had only the right to round off downwards. This amendment has been implemented for system technical reasons.
Changes to the fund statutes for the Master Fund and the Feeder Funds are deemed not significant for unit-holders. Updated Offering Memorandums (including fund statutes) are available at our website, www.nordkinn.se.
As always, please contact us on +46 8 4734050 or post@nordkinnam.se if you have any questions.
Nordkinn Asset Management AB