SKAGEN Insight to close

Date: 23/01/20

Carl Locher, Winter's day. Hornbæk. View towards Nakkehoved, Ca. 1885. This painting is manipulated and belongs to The Art Museum of Skagen.

SKAGEN has decided to close the shadow activist equity fund SKAGEN Insight. The liquidation will be effective from 23 January 2020.

SKAGEN Insight was established in September 2017, offering investment in a portfolio of companies exposed to activist campaigns globally. While the validity of such a strategy still holds, SKAGEN Insight has not attracted sufficient assets* as the narrow mandate has proven challenging to sell and the fund appears to have limited prospects of reaching a sustainable size. SKAGEN therefore believes that closing the fund is in the best long-term interests of clients.

The Norwegian FSA has approved the liquidation, information has been sent to unit holders and trading in the fund has been suspended.

If you have any questions regarding the liquidation, please contact Customer Services on +47 51 80 37 09.

*As of 10 January 2020, SKAGEN Insight had EUR 20 million in assets under management.

Date: 23/01/20

Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skills, the fund’s risk profile and management fees. The return may become negative as a result of negative price developments. There is risk associated with investing in funds due to market movements, currency developments, interest rate levels, economic, sector and company-specific conditions. The funds are denominated in NOK. Returns may increase or decrease as a result of currency fluctuations. Prior to making a subscription, we encourage you to read the fund's prospectus and key investor information document which contain further details about the fund's characteristics and costs.