Storebrand Asset Management AS (Storebrand) plans to merge the mutual funds SKAGEN Likviditet with Storebrand Kort Kreditt IG and SKAGEN Avkastning with Storebrand Kreditt. This is in line with Storebrand’s strategy to simplify and streamline its fund offerings. The funds have comparable investment strategies and are managed by the same team.
What does this mean for you as a unitholder?
As a unitholder in SKAGEN Likviditet and/or SKAGEN Avkastning, your fund units will be transferred to the respective Storebrand funds. After the merger, the investment strategy of the two Storebrand funds will apply.
For unitholders in Storebrand Kort Kreditt IG and Storebrand Kreditt, the merger entails no changes.
No major changes:
- Same risk class: Both SKAGEN Likviditet and SKAGEN Avkastning are being transferred to funds with the same risk classification.
- Historical returns: Storebrand Kort Kreditt IG and Storebrand Kreditt have shown marginally better returns than SKAGEN Likviditet and SKAGEN Avkastning over most time periods.
Key differences:
The main difference between the funds is that Storebrand Kort Kreditt IG can invest in subordinated loans, which SKAGEN Likviditet could not. Storebrand Kreditt may have a slightly higher share of loans with credit quality rated BB and B compared to SKAGEN Avkastning.
Execution of the merger:
The merger has been approved by the board of Storebrand and the Financial Supervisory Authority of Norway (Finanstilsynet), but it requires approval by at least 75 percent of unitholders in both merging funds. Storebrand is therefore calling a unitholder meeting on November 11, 2025.
Are you a unitholder in SKAGEN Likviditet and/or SKAGEN Avkastning?
Log in to the Investor Portal and check your inbox. In the letter found there, you can already cast your vote using the attached ballot, and read more about the planned merger.
The merger is scheduled to be completed on December 5, 2025, and the completion will be announced on Storebrand's website. Rights as a unitholder in the receiving fund may be exercised no earlier than the first business day after the merger date.
We recommend all unitholders read the key information documents for Storebrand Kort Kreditt IG and Storebrand Kreditt carefully. If you have any questions, please contact us.