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Liquidation of Danske Invest Russia and Danske Invest Eastern Europe

The Board of Directors of Danske Invest SICAV has decided to liquidate the following two funds: Danske Invest SICAV Russia and Danske Invest SICAV Eastern Europe.

Due to the sanctions against Russia, Danske Invest’s Responsible Investment Policy in light of the war in Ukraine, the suspension of trading on the Moscow Stock Exchange and associated liquidity constraints, the Board of Danske Invest SICAV has decided to liquidate the two funds Danske Invest SICAV Russia and Danske Invest SICAV Eastern Europe.
 
Given the escalation of the conflict and challenges with the liquidity and settlement of the Funds’ investments, we do not consider reopening the Funds to be in the best interests of Shareholders, so this is not being contemplated. Moreover, the value of the total net assets of the Funds is low and not expected to grow in the near future.
 
Read also: The war in Ukraine – Danske Invest FAQ
 

Information about the process

The liquidation process will begin on 28 April 2022 or such later date as may be decided by the Board. Having considered the Funds’ current portfolio composition and the extraordinary conditions prevailing, the Board cannot anticipate the closure date of the Liquidation.
 
The Board will proceed with the Liquidation in accordance with applicable Luxembourg laws and regulations. The costs associated with this Liquidation will be borne by Danske Invest Management A/S, the Funds’ management company.
 
Danske Invest Management A/S, the management company of the Funds, agreed to waive its management fee as of 26 February 2022.
 

If you are an investor

If you have any questions concerning the Liquidation or any other aspect of the Funds, please contact your usual adviser. We recommend you seek advice from your tax advisor on the implications of the termination of the Funds.
 
We are monitoring the situation closely and will keep you up to date on this web page as the liquidation process proceeds.
 

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