Change of Nordea Investment Funds S.A managed funds offering: what you should know?
We recognized that we could decrease costs and charges Luminor customers are paying for management of Nordea Investment Funds S.A mutual funds and decided to initiate this switch of share classes so that customers will be able to pay lower fees maintain same investment and save even more.
Starting from 31st of March we will accept buy orders only in newly registered C‑share class Nordea mutual funds all P‑class share will be converted to sell only regime. Nordea Investment Funds S.A C‑share class from this date will be our key offering.
During the share class switch date – 14th of April trading of P‑share class Mutual Funds will be restricted.
During the switch settlement cycle Nordea Investment Funds S.A mutual funds order automatic redemption functionality will be suspended, but starting from 19th of April you will be able to instruct bank to sell your converted C‑share class Nordea mutual funds holdings by sending us a request in the Internet bank.
All orders that are submitted before 31st of March cut-off time 14:00, will be executed according to standard procedure.
After successful switch of Nordea Investment Funds S.A managed funds to new C‑share class you will be able to see that in your financial instrument portfolio old P‑share class fund units are replaced with new fund units that will contain letter BC or BHC. For example, is you owned Global bond fund that is traded in EUR after switch you will see that you own Global bond fund, BC‑EUR.
Yes, number of fund units you currently own will change, but that will not have an impact on value of your investments or acquisition value of your investments. Share class switch is technical process during which fund units of P‑share class will be replaced with fund units of C‑share class and fund manager will ensure that both funds have same market value.
Yes, after switch you will be able to freely trade all Nordea mutual funds of C‑share class.
We will publish all C‑share class related prices and fund documents in our home page. You will be able to see C‑share class NAV (Net Asset Value) changes, Monthly reports, and Key investor information documents in same format as it was for P‑share class.