Notice to the investors in the Nordea Russia Fund

Investors in the Nordea Russia Fund will receive the first payment after the suspension of trading

Nordea Funds has previously announced its decision to liquidate the Nordea Russia Fund.

Now investors in the fund will receive their first payment instalment. The payment will be made on 31 August 2022 and it will normally appear a couple of days later on the management account of the fund portfolio.

Payments are made in instalments

Russia's war on Ukraine continues to have a dramatic impact on the Russian equity market. In this instalment, we will pay the unit holders most of the fund’s liquid assets. This amount of these cash equivalents will correspond to 90% of fund units. On your the fund management accounts this will look like a normal sales transaction.

10 % of fund units will remain in the fund. When it becomes possible to trade Russian securities again, the liquidation of the fund's remaining assets, such as shares, will take place and the shareholders will receive a further payment or payments in proportion to the fund unit’s value (which is affected by the value of the assets in the fund) at that time and the number of fund shares they have left.

Unitholders are not required to do anything due to the liquidation of the fund, as the payment of the redemptions will take place automatically. However, it’s important to remember that, due to the market conditions and the sanctions imposed on Russia, it may take a long time before all of the fund’s holdings can be sold.

Any capital gains or losses arising from the sale of the fund units will impacts taxation (with the exception of pension saving and insurance saving contracts).

Questions?

Personal customers are welcome to contact Nordea’s customer service. The easiest way to call us is to log in to Nordea Mobile and select Help > Phone call. This way the identity has already been verified. Customers can also call us directly on 0200 70 000 (local rates apply).

Private Banking customers can contact their dedicated adviser, and Nordea Business Centre caters corporate customers’ needs on 0200 26262 (local rates apply).