Changes in Nordea Eastern Europe Fund

Nordea Eastern Europe Fund will no longer invest in Russia. We will exit the Russian equity market and sell the rest of our Russian holdings as soon as it is possible. In late January before Russia’s invasion of Ukraine, about 65% of the fund’s assets were invested in Russian shares.

The portfolio managers of the Eastern Europe Fund will receive new investment guidelines, which will enter into force immediately, as this does not require amending the fund rules. Another change will take place on 1 April when the fund’s benchmark changes to MSCI Emerging Market Europe 10/40 ex. Russia, which does not include Russian shares.

For the time being, the fund is not open for subscriptions or redemptions. Nordea Funds has also decided that the fund will not charge a management fee as of 7 March.

Please also note that the minimum subscription to the fund is 10 million euros as of 3 March. The minimum subscription has been increased to limit the inflow of capital in case fund orders will be allowed before the changes to the investment profile mentioned above have taken effect.

Other observation

Contrary to previous communication, all orders concerning the fund have been cancelled. We have had to cancel the orders for operational reasons. We apologise for the confusion.

The fund is no longer available for subscriptions through Nordea’s banking platforms, such as the mobile bank.