Danske Invest’s mutual funds in Denmark will be closed for trading around Easter 2022

When Danske Invest in Denmark switches custody bank from Danske Bank to J.P. Morgan, it will be necessary for practical reasons to stop trading in Danske Invest, Danske Invest Select and Danske Invest Index mutual funds around Easter 2022. Hence, all funds under these three entities will be closed for trading 8th April at 17.00 until 20th April at 06.00 in the Danish double priced funds. And from 8. April 12.00 CET until 19 April 12.00 CET in the Danish single priced funds. In practice, when a fund is closed for trading, it means no-one can buy or sell investment certificates in the affected fund.

The funds are closed for trading in order to protect you as an investor. Because of the switch in custody bank, it will not be possible for the funds’ managers to trade the funds’ investments or cash for a period before they are transferred to the new custody bank. Hence, trading is closed to ensure that you as an investor do not trade at misleading prices. We expect the custody bank switchover can be completed during the mentioned period. If that is not the case, it will be communicated on Danske Invest’s website.

READ ALSO: Danske Invest switching custody bank in Denmark
 

What does the switch in custody bank mean for me as an investor?

As an investor in Danske Invest, you will not be affected by the switch in custody bank apart from not being able to trade on the four days mentioned above when the funds are closed for trading. The change will be carried out within the mutual fund’s overall cost levels and will not involve any price increases for you. Likewise, you do not need to do anything in connection with the switch to J.P. Morgan.
 

For clients who has continuous savings to one of the affected funds

Since no subscriptions can be made during this change, this means that if you have a continuous saving to one of the funds this order will not be placed. Therefore we urge you to place a buy order manually once the funds are open again. The next time thereafter your continuous savings will be placed as usually.