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Date of first payout from Danske Invest SICAV Russia and Danske Invest SICAV Eastern Europe has been set

Following the decision to liquidate Danske Invest SICAV Russia and Danske Invest SICAV Eastern Europe, a date has now been set for the first payout to shareholders.

The decision to liquidate Danske Invest SICAV Russia and Danske Invest SICAV Eastern Europe was communicated to the investors in the funds on 28 April 2022. The decision was prompted by the escalation of the war in Ukraine, the sanctions imposed on Russian companies as a result of the war, and also certain Russia-related investments being added to the list of investments that do not live up to Danske Invest’ Responsible Investment Policy. 31 May 2022 has now been set as the date that the available cash will be paid out.
 

No action required by existing investors in the funds

During the liquidation process, the value of your shares will be determined and paid out automatically in the days after 31 May 2022. No further action is required on your part. Additional payouts may be made later if the funds are able to sell the remaining assets in their portfolios.
 
Due to the uncertainty on the current state of affairs and the ongoing war, it is unclear whether Russian assets will be able to be sold in the future. However, Danske Invest will continue to monitor the situation and make decisions with the interest of the investors as the utmost priority. It is important to clarify that certain Russian assets may prove to be without value, i.e. they will not result in any payouts.
 
If you have any questions concerning tax-related issues in relation to the liquidation, please consult your tax or financial advisor.

READ ALSO: The war in Ukraine – Danske Invest FAQ

Please Note

The date 31 May 2022 only applies to the two Luxembourg-domiciled funds, Danske Invest SICAV Russia and Danske Invest SICAV Eastern Europe. If you have invested in the Danish-domiciled fund Danske Invest Østeuropa Klasse DKK, the process and the date for payouts will be different. For more information about this, please consult www.danskeinvest.dk
 

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