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Prospectus and Fund statues

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Prospectus and Fund statues

  1. 1. Prospectus and Fund statues FUNDS Lannebo Mixfond Lannebo Sverige Lannebo Småbolag Lannebo Vision June 2002
  2. 2. Contents Address of fund management company…………………………………………………. 2 Share capital…………………………………………………………………………….. 3 Shareholders…………………………………………………………………………….. 3 Board of Directors………………………………………………………………………. 3 Officers………………………………………………………………………………….. 3 Auditors………………………………………………………………………………… 3 Custodian……………………………………………………………………………….. 3 Lannebo manages the following equity funds………………………………………….. 3 Lannebo manages the following balanced fund………………………………………… 3 Sales and redemptions………………………………………………………………….. 3 Hypothecation…………………………………………………………………………... 4 Registration…………….………………………………………………………………. 4 Register of unitholders…………………………………………………………………. 4 Valuation of funds……………………………………………………………………… 5 Annual report and half-year report……………………………………………………… 5 Winding up of fund or transfer of fund business……………………………………….. 5 Amendments to fund rules……………………………………………………………… 5 Legal status of fund……………………………………………………………………... 5 Tax rules………………………………………………………………………………… 5 Income tax returns………………………………………………………………………. 6 Charges …………………………………………………………………………………. 6 Bank account…………………………………………………………………………….. 6 Lannebo Fonder AB Postal address: Box 7854 S-103 99 STOCKHOLM Office address: Norrmalmstorg 1, 4th floor Telephone: +46 8 5622 5200 (switchboard) +46 8 5622 5222 (customer service) Internet: www.lannebofonder.se Co. reg. no. 556584-7042 The company’s licence to engage in the mutual fund management business was issued by the Swedish Financial Supervisory Authority (Finansinspektionen) on July 7, 2000. 2
  3. 3. Share capital all costs accruing to each unitholder’s holding. Minimum of 1,000,000 kronor Information is provided on page 9 concerning the maximum charges stipulated in the fund Shareholders statues. Lannebo Fonder AB (the Company) is a wholly owned subsidiary of Lannebo & Partners AB. Lannebo Fonder manages the following balanced fund: Board of Directors Lannebo Mixfond: Portfolio Manager, Göran Espelund. Anders Lannebo, Chairman, Lannebo Fonder AB The fund pays a dividend in December each Göran Espelund, President, Lannebo Fonder AB year. The dividend is automatically re-invested Per Axelson, Marketing Manager, Lannebo Fonder in new units if the client does not instruct AB otherwise. Göran Rylander, CFO, Mercuri Urvalgruppen Jan Sjöqvist, President, NCC AB Fees/charges* Officers Anders Lannebo, Chairman Sales charge 0% Göran Espelund, President Redemption charge, holdings >30 days 0% Per Axelson, Acting President and Marketing Redemption charge, <30 days 1% Manager Management fee 1.6 % Marit Boström, Head of Administration Custody fee 0.1 % Mikael Näslund, Equities Manager * Fees charged by the company on the sale Auditors and redemption of units, for fund management Deloitte & Touche AB with Mr Svante Forsberg, services and the custodian. A fee is also paid Authorised Public Accountant as responsible, Box to the Swedish Financial Supervisory Authority 10152, S-121 26 Stockholm for its supervisory activities. The company Per-Olof Aktéus. Authorised Public Accountant provides information in annual statements on (Appointed by Swedish Financial Supervisory all costs accruing to each unitholder’s holding. Authority) KPMG Bohlins AB, Box 16106, S-103 23 Information is provided on page 9 concerning Stockholm. the maximum charges stipulated in the fund statues. Custodian Skandinaviska Enskilda Banken AB, S-106 40 Stockholm Sales and redemptions Lannebo Fonder manages the following Lannebo Sverige, Lannebo Småbolag, equity funds Lannebo Vision, Lannebo Mixfond Lannebo Sverige: Portfolio Manager, Johan Lannebo A fund account with Lannebo Fonder will be Lannebo Småbolag: Portfolio Manager, Peter Rönström opened in the name of each owner of units in Lannebo Vision: Portfolio Manager, Mikael Näslund Lannebo’s funds. To simplify handling, for Lannebo and for unitholders, all fund Dividend transactions will be channelled through this All the equity funds pay dividends in December account. each year. The dividend is automatically re- invested in new units if the client does not Units can be purchased or redeemed on all instruct otherwise. banking days through the company or its representatives. Fees/charges* Sales charge 0% Units are purchased and redeemed on the Redemption charge, holdings >30 days 0% basis of a net asset value that is not known Redemption charge, <30 days 1% when the request is submitted. It is not Management fee 1.6 % possible to set a limit to purchase or Custody fee 0.1 % redemption orders. The net asset value sent to the mass media need not be identical to the * Fees charged by the company on the sale closing price on the banking day but only and redemption of units, for fund management expresses the net asset value as it was services and the custodian. A fee is also paid calculated at the time when Lannebo sent the to the Swedish Financial Supervisory Authority information. The definite net asset value will for its supervisory activities. The company be available from Lannebo by no later than the provides information in annual statements on 3
  4. 4. banking day after the banking day on which A request to purchase or redeem units that is the value of the units was established. received by the company no later than 4.00 p.m. is executed on the same day. A request A request by a unitholder to purchase units (a for purchase or redemption that reaches the sale by the company) is made by paying in a company after 4.00 p.m. on a full banking day certain amount to the bank giro account of the or after noon on a half day, is executed on the fund in question or by instructing Lannebo to next banking day. Lannebo Fonder’s execute a purchase via autogiro or by Customer Service unit (telephone: +46 8 5622 purchasing units through 5252) can provide information about closing www.lannebofonder.se (for those clients who times. Requests for redemption may only be have reached an agreement to use this recalled with the Company’s consent.. service). The account numbers of each of Lannebo’s funds are provided at the end of Hypothecation this brochure. Unitholders may pledge their units in the fund. The minimum amounts for purchase of units in In the event of hypothecation, the unitholder or the fund are 500 kronor for periodic payments his/her representative and/or the collateral and 5,000 kronor for the first one-off holder shall inform the fund company in writing transaction, if the use of periodic payments that this has been done, indicating who is the has not been arranged. By periodic payments collateral holder, which units are involved and is meant regular annual or more frequent any restrictions in the scope of the payments. Unitholders shall provide the hypothecation. The fund company shall company with instructions as to how the register the hypothecation in the register of amounts paid in are to be invested, i.e. to unitholders and inform the unitholder in writing which fund(s) the amount shall be allotted. The that the hypothecation has been registered. company is unable for legal reasons to The company will debit the unitholder 150 execute the purchase of units before payment kronor for each occasion this is done. has reached the fund’s account. A request to redeem units shall be submitted Registration in writing and shall be signed personally by the unitholder. Such a request may also be Entitlement to units in the fund and any rights submitted by fax or via www.lannebofonder.se thereby acquired are based on registration of (for those clients who have reached an the units in question. agreement to use this means). Register of unitholders Units are normally redeemed immediately, which means that the proceeds will normally Lannebo Fonder AB maintains a register of all be available in the bank account nominated by unitholders and their holdings. the unitholder or paid by bankgiro ot other electronic payment system within four banking Each unitholder’s units are listed in the annual days. If, at the time payment is due, the fund statement, which also includes information for lacks the cash required, it may delay his/her income tax return. redeeming the units until Lannebo has sold assets on behalf of the fund. Valuation of fund assets A redemption fee of 1 per cent is charged when short-term holdings are sold, by which is The value of a unit in the fund is the value of meant units that have been owned for 30 days the fund divided by the number of outstanding or less. However, this does not apply to units units. The value of the fund is calculated by acquired within the IP or pension saving plans. deducting from the assets such liabilities as Neither is a redemption fee charged in the relate to the fund, including undebited taxes as case of monthly saving or for units that are determined by the fund company and any acquired as a result of the re-investment of charges specified in the fund statues. dividends. The fund’s assets are calculated as follows: Lannebo confirms sales and redemptions in § Securities and other financial instruments writing within one week. Monthly saving via owned by the fund valued at prevailing Autogiro is confirmed in writing at least once a market value (laste paid price or if there is year. no such price the last bid price). If such prices cannot be obtained or in the view of 4
  5. 5. the fund company are misleading, the The fund’s statues may only be amended securities and/or other financial pursuant to a decision by the fund company’s instruments may be stated at a price board, which shall be submitted to the determined by the fund company on Swedish Financial Supervisory Authority for its objective grounds. approval. Once the decision has been § Liquid funds including deposits on bank approved, it shall be made available at the accounts, short-term investments on the fund company and at the custodian and money market and term deposits with published by such means as the Swedish banks. Financial Supervisory Authority stipulates. § Accrued interest § Accrued dividends Legal status of the fund § Unsettled sales § Other receivables in A securities fund is a fund that consists of securities and financial instruments and that is The fund’s liabilities are calculated as follows: formed by the provision of capital by the § Accrued management fees public. The fund is owned by those who have § Custody fees provided the capital. The fund cannot acquire § Unsettled purchases rights or take on obligations; nor can it engage § Tax liabilities in litigation in a court or any other authority. § Other liabilities Property that is included in the fund may not be subject to a distraint order, neither are the The value of the fund shall be calculated daily unitholders liable for commitments entered (every banking day) by the company. into on behalf of the fund. The fund company represents the unitholders on issues pertaining Annual report and half-yearly to the fund, makes decisions relating to the report property belonging to the fund and exercises such rights as arise from the fund. All unitholders are sent the half-yearly report and the annual report no later than two and Tax rules four months after the end of the half-year and the year-end respectively, except when the The fund unitholder has indicated that these are not The fund is not liable for tax on capital gains required. The reports are also made available on sales of shares, Swedish or foreign, and at the Company’s offices and at the equity-related instruments, nor are capital custodian’s offices. The reports include details losses on the corresponding financial of the compensation paid to the fund company instruments tax-deductible. Instead, the fund is and the custodian for the previous year and taxed at a standard rate of 1.5 per cent of the the fund’s performance over the previous market value of its holdings of shares and three years or, if the fund has not been in equity-related instruments at the beginning of existence for three years, since the fund was the year plus interest and dividends received. started. The fund is liable for tax on capital gains on other financial instruments than shares and Winding up of fund or transfer of equity-related instruments, and capital losses fund business on the corresponding financial instruments are tax-deductible. The fund may make If Lannebo decides to wind up the fund or to deductions for management costs and for transfer the management of the fund, subject dividends paid to unitholders. This means that to the consent of the Swedish Financial the fund does not incur any tax liability if the Supervisory Authority, to another fund entire taxable profit is paid out by way of management company, all unitholders will be dividend to unitholders. The fund pays income informed thereof. If the Swedish Financial tax at 30 per cent on any taxable profit. Supervisory Authority withdraws the fund management company’s licence or if the Unitholders company is placed in liquidation or bankruptcy, The rules below relate to physical persons management of the fund shall immediately be domiciled in Sweden and Swedish unsettled taken over by the custodian. estates. Given the general character of this general account, unitholders should consult Amendments to fund rules their tax advisors concerning any specific tax questions that may arise. 5
  6. 6. country of domicile, at the end of the taxation Dividends and capital gains are taxed as year. The holding is deemed to be an asset for income from capital. State income tax of 30 purposes of wealth taxation. Wealth tax is per cent is charged on dividends and taxable charged at a rate of 1.5 per cent of the taxable capital gains. wealth. When units are redeemed, a calculation of The company shall send a tax return for capital gains shall be made. The capital capital gains/losses on sales of units by gain/loss is defined as the difference between physical persons who are domiciled in Sweden the redemption price after deduction of and Swedish unsettled estates. transaction costs and acquisition cost. The acquisition cost of a unit is defined as the Charges average acquisition value of all units in any given fund (average method). Information is provided below concerning the maximum fees the company may charge in Lannebo Sverige, Lannebo Småbolag and accordance with the fund rules in connection Lannebo Vision with the sale and redemption of units and for For tax purposes, these funds are deemed to management and custodial services. be equity funds. Capital gains/losses are Information concerning the current charges is treated in accordance with the rules for listed provided on page 4 in the prospectus. equities. Capital losses on sales of units may therefore be netted off to their full amount Lannebo Sverige, Lannebo Småbolag, against capital gains on listed shares and Lannebo Vision, Lannebo Mixfond. equity-related instruments. If the year’s capital losses exceed the year’s capital gains the Sales charge: 5 % of value of units difference, after pro rata reduction to 70 per Redemption charge: 1 % of value of units cent, is netted off against other income in the Management fee: 1.6 % per annum income class income from capital. The taxable Custodial charge: 0.1 % per annum wealth consists of 80 per cent of the listed value of the units at the end of the taxation Bank accounts year. Lannebo Sverige: 5563-4604 If a deficit on income classed as income from Lannebo Småbolag: 5563-4620 capital arises, a tax reduction of 30 per cent of Lannebo Vision: 5563-4638 the part of the deficit that amounts to 100,000 Lannebo Mixfond: 5563-4612 kronor and of 21 per cent on the remaining part of the deficit. The tax reduction may be utilised against state and local government income tax and property tax. The deficit may not be carried forward into a later year. Income tax returns Lannebo shall send income tax returns to the tax authority listing dividends paid to physical persons and legal entitles. The company is obliged to withhold preliminary tax at 30 per cent on dividends paid to physical persons domiciled in Sweden and Swedish unsettled estates. In the case of persons domiciled abroad, the company shall withhold coupon tax on the dividend. Coupon tax is 30 per cent or such lower tax rate as follows from the double taxation treaty with the country in question. The company shall also submit income tax returns listing the units owned by physical persons and unsettled estates, regardless of 6
  7. 7. markets that are open to the public and Fund statues subject to supervision by the government or any other authorised body in countries within Lannebo Sverige the EU and EFTA, Australia, Hong Kong, Japan, Canada, Singapore and the USA. § 1 Fund, fund management company and custodian § 3 Dividends The name of the fund is Lannebo Sverige. The business is conducted on the basis of the The fund pays a dividend each financial year Swedish Act (1990:1114) concerning with the object of transferring the tax liability to Securities Funds, these fund statues, the unitholders, as a result of which double management company’s articles and such taxation does not arise. other rules as are issued pursuant to laws or ordinances. The fund can also accept The following shall be paid out as dividend to investments pursuant to the Swedish Act unitholders in December of the year after the (1989:1079) concerning Unit-Linked Life financial year: Insurance and the Swedish Act (1991:931) concerning Individual Pension Saving. § Any remaining available funds from previous years. The fund is managed by Lannebo Fonder AB, co. reg. no. 556584-7042, hereinunder called § The fund’s profit, as stated in the income the Company. The Company represents the statement for the financial year after unitholders on matters pertaining to the fund, makes decisions on the property that is - deductions have been made for included in the fund, and exercises such rights realised and unrealised capital gains as arise from this property. The company on sales of shares and equity-related maintains registers of all unitholders and instruments during the financial year, collateral holders. - additions have been made for realised and unrealised capital losses on The custodian for the fund’s assets is shares and equity-related financial Skandinaviska Enskilda Banken AB, co. reg. instruments during the financial year, no. 508082-9081. - an addition has been made of an amount corresponding to the standardised income for tax purposes § 2 Investment policy on the market value of the shares and equity-related financial instruments at The overall financial objective of the fund, the beginning of the financial year, subject to observance of due caution, is to - an adjustment has been made for achieve the highest possible capital growth. By unrealised changes in the value of capital growth is meant realised and financial instruments other than unrealised capital gains on the fund’s holdings shares and equity-related financial plus dividends received and interest received instruments, after deduction of costs and any taxes. The - a deduction has been made for non- fund’s assets shall be invested in swedish taxable income, shares and equity-related securities, - an addition has been made for non- certificates of deposit, hereinunder jointly deductible costs. called financial instruments. Otherwise the fund’s policy is diversified and it does not The sum of the above may be increased to concentrate on any particular industry. take into account accrued dividend that has been paid in in connection with sales of units The fund’s assets shall be invested in such a and reduced to take into account accrued way that the fund is to be deemed to be an dividend that has been paid out in connection equity fund for tax purposes in accordance with the redemption of units. with the provisions in §27 item 1 in the Income Tax Act (1947:576). The Company, in respect of dividends accruing to fund units after deduction of The fund’s trading in financial instruments preliminary tax, shall acquire further units in shall mainly take place on stock markets, the fund on behalf of unitholders registered as authorised market places and other regulated owners of units on the date of record. 7
  8. 8. If the amount available for dividend per unit falls below 0.5 per cent of the value of the unit, § 5 Price of units the Company is entitled to decide not to pay a dividend. The selling price of a unit in the fund shall be the value of the unit on the day the sale was At the request of the unitholder, the dividend, executed plus a supplement of no more than 5 after deduction of tax, shall instead be paid to per cent. the unitholder. Such a request shall be sent in writing and reach the Company by no later The redemption price of a unit shall be equal than November 15 in the year when the to the value of the unit on the day it is dividend shall be paid. redeemed after deduction of no more than 1 per cent of the redemption value. Special rules apply to dividends in respect of insurance premiums invested by insurance Units in the fund are sold and redeemed at companies on policyholders’ account pursuant prices that are unknown to the unitholder at to the Swedish Act (1989:1079) concerning the time the request for sale or redemption is Unit-linked Life Insurance or of dividends in submitted. Information concerning the sale or respect of pension savings invested by redemption price is available from the pension institutions on pension-savers’ Company no later than the banking day after account pursuant to the Act (1993:931) the banking day on which the value of the unit concerning Individual Pension Saving. was determined in accordance with the above. § 4 Value of fund and units § 6 Sale and redemption of units The value of a unit in the fund is the value of Units are sold or redeemed on any banking the fund divided by the number of outstanding day via the Company or its representative. units. The value of the fund is calculated by deducting from the assets such liabilities as Requests to buy a unit (sale by the Company) relate to the fund including undebited taxes as are made by paying an amount to the fund’s determined by the Company and such charges bank giro account either direct or, subject to as are listed in § 7 below. specific agreement, by means of a data medium. The transaction is executed on the The fund’s assets are calculated as follows: day payment reaches the fund. § Securities and other financial instruments owned by the fund valued at prevailing The minimum amount for a sale of units by the market value (latest paid price or if there is Company is 5,000 kronor in connection with no such price the latest purchase price). If the first payment. Units are then sold for such prices cannot be obtained or are minimum amounts of 500 kronor per payment. misleading in the view of the fund In the event of periodic payments, 500 kronor company the securities and/or other is the minimum amount per payment. By financial instruments may be stated at the periodic payments is meant recurrent value determined by the fund company on payments once a year or more frequently. objective grounds. § Liquid funds including deposits on bank Requests to redeem units shall be submitted accounts, short-term placements on the in writing and shall be personally signed by the money market and special-term deposits unitholder. Requests for redemption may be with banks sent via fax or data medium, subject to § Accrued interest specific agreement. § Accrued dividends § Unsettled sales Requests that reach the fund Company by no § Other receivables in respect of the fund later than 4.00 p.m. will be executed on the same day. The fund’s liabilities are calculated as follows: § Accrued management fees Requests that reach the fund Company later § Custodian’s fees than 4.00 p.m. on a full banking day or after 12 § Unsettled purchases noon on half days will be executed on the next § Tax liabilities banking day. § Other liabilities in respect to the fund Requests for redemption may be withdrawn The value of the fund shall be calculated daily only subject to the consent of the fund (every banking day) by the company. Company. 8
  9. 9. § which units are involved, and Special rules apply to the redemption of units § any restrictions in the scope of the in respect of insurance premiums invested by hypothecation. insurance companies on policyholders’ account pursuant to the Act (1989:1079) The fund Company shall register the concerning Unit-linked Life Insurance or hypothecation in the register of unitholders and redemption in respect of pension savings inform the unitholder in writing that the invested by a pension institution on pension- hypothecation has been registered. The savers’ account pursuant to the Act (1993:931) hypothecation ceases when the collateral concerning Individual Pension Saving. holder has informed the fund Company in writing thereof. The fund Company is entitled § 7 Compensation from the fund to fund to charge compensation from the unitholder Company and custodian. for the registration. Compensation shall be paid out of the assets § 9 Fund’s financial year of the fund to: The fund’s financial year is the calendar year. a) The fund Company, for its management, analysis, administration, § 10 Provision of annual report and half- bookkeeping and maintenance of year report registers. The compensation is calculated daily at a maximum rate of The fund Company shall make up an annual 1.6 % per year of the fund’s assets. report and a half-year report. These shall be The compensation shall be paid at the made available at the fund Company’s office end of each month. as soon as this can be done. The annual b) The custodian for the safekeeping of report and half-year report shall be sent to the securities belonging to the fund. unitholders who have not requested otherwise. The maximum compensation to be paid is 0.1 % of the fund’s assets. § 11 Limitation of liability c) The Swedish Financial Supervisory Authority for its supervisory activities. The fund Company is not liable for loss or damage that is due to Swedish or foreign legal In addition, statutory value added tax is enactments, measures by Swedish or foreign charged on some items of compensation. The governments, act of war, strike, blockade, company is also entitled to withdraw tax from boycott, lock-out or such circumstance. The the assets of the fund. reservation regarding strikes, blockades, boycotts, and lockouts also applies if the fund The cost of tax and commission for the funds’ Company is the object of or takes such purchases and sales of financial instruments industrial action. corresponding to the sold and redeemed units is defrayed by the fund. Loss arising in other cases shall not be compensated for by the fund Company § 8 Hypothecation of units provided the fund Company has paid due care and attention. Unitholders may pledge their units in the fund, provided that the unitholder is not an insurance The fund Company is not liable in any case for company that has invested insurance indirect loss nor is it liable for loss that is premiums of behalf of policyholders pursuant caused by the deposit bank or any other to the Swedish Act (1989:1079) concerning supplier that the fund Company has engaged Unit-linked Life Insurance or a pension taking due care and attention, nor for any loss institution that has invested pension-savers’ that might arise in connection with any funds on their behalf pursuant to the Act limitations in the rights of disposal that may be (1993:931) concerning Individual Pension applied against the fund Company. Saving. Should the fund Company be prevented from In the event of hypothecation, the unitholder or taking measures on account of circumstances his/her representative and/or the collateral stated in the first paragraph above, the said holder shall inform the fund Company in measures may be postponed until the obstacle writing that this has been done, indicating has been removed. § who is the collateral holder § 12 Amendments to fund rules 9
  10. 10. the stock market in question. In geographical The fund rules may only be amended by a terms, the fund limits its investments to the decision by the fund Company’s board and Nordic countries. Otherwise the fund’s policy is such a decision shall be submitted to diversified and it does not concentrate on any Finansinspektionen for its approval. Once the particular industry. decision has been approved, it shall be made available at the fund Company’s and the The fund’s assets shall be invested in such a custodian’s office, and be announced by such way that the fund is to be deemed to be an other means as Finansinspektionen instructs. equity fund for tax purposes in accordance with the provisions of §27 item 1 in the Income Lannebo Småbolag Tax Act (1947:576). The fund’s trading in financial instruments § 1 Fund, fund company and custodian shall mainly take place on stock markets, authorised market places and other regulated The name of the fund is Lannebo Småbolag. markets that are open to the public and The business is conducted on the basis of the subject to supervision by the government or Swedish Act (1990:1114) concerning other authorised body in countries within the Securities Funds, these fund rules, the fund EU and EFTA, Australia, Hong Kong, Japan, management company’s articles and such Canada, Singapore and the USA. other rules as are issued pursuant to laws or ordinances. The fund can also accept investments pursuant to the Swedish Act §§ 3-12 See Lannebo Sverige (1989:1079) concerning Unit-Linked Life Insurance and the Swedish Act (1991:931) concerning Individual Pension Saving. Lannebo Vision The fund is managed by Lannebo Fonder AB, § 1 Fund, fund company and custodian co. reg. no. 556584-7042, hereinunder called the Company. The Company represents the The name of the fund is Lannebo Vision. The unitholders on matters pertaining to the fund, business is conducted on the basis of the makes decisions on the property that is Swedish Act (1990:1114) concerning included in the fund, and exercises such rights Securities Funds, these fund rules, the as arise from this property. The company management company’s articles and such maintains registers of all unitholders and other rules as are issued pursuant to laws or collateral holders. ordinances. The fund can also accept investments pursuant to the Swedish Act The custodian for the fund’s assets is (1989:1079) concerning Unit-Linked Life Skandinaviska Enskilda Banken AB, co. reg. Insurance and the Swedish Act (1991:931) no. 508082-9081. concerning Individual Pension Saving. § 2 Investment policy The fund is managed by Lannebo Fonder AB, co. reg. no. 556584-7042, hereinunder called The overall financial objective of the fund, the Company. The Company represents the subject to observance of due caution, is to unitholders on matters pertaining to the fund, achieve the highest possible capital growth. By makes decisions on the property that is capital growth is meant realised and included in the fund, and exercises such rights unrealised capital gains on the fund’s holdings as arise from this property. The company plus dividends received and interest received maintains registers of all unitholders and after deduction of costs and any taxes. The collateral holders. fund’s assets shall be invested in shares and equity-related securities, certificates of The custodian for the fund’s assets is deposit, hereinunder jointly called financial Skandinaviska Enskilda Banken AB, co. reg. instruments. The fund’s investments will be no. 508082-9081. concentrated in small companies on stock markets, authorised market places and other § 2 Investment policy regulated markets as provided below. The criterion for size is the company’s market The overall financial objective of the fund, capitalisation, which, at the time the subject to observance of due caution, is to investment is made, shall not account for more achieve the highest possible capital growth. By than one per cent of the total capitalisation of capital growth is meant realised and 10
  11. 11. unrealised capital gains on the fund’s holdings other rules as are issued pursuant to laws or plus dividends received and interest received ordinances. The fund can also accept after deduction of costs and any taxes. investments pursuant to the Swedish Act (1989:1079) concerning Unit-Linked Life The fund’s assets shall be invested in shares Insurance and the Swedish Act (1991:931) and equity-related securities, certificates of concerning Individual Pension Saving. deposit, hereinunder jointly called financial instruments. In geographical terms, the fund’s The fund is managed by Lannebo Fonder AB, investment policy is global. The investments co. reg. no. 556584-7042, hereinunder called will be concentrated in industries with high the Company. The Company represents the growth, growth companies and/or companies unitholders on matters pertaining to the fund, with relatively high research and development makes decisions on the property that is investments, typically pharmaceuticals, included in the fund, and exercises such rights telecom, medical engineering, Internet and as arise from this property. The Company media. maintains registers of all unitholders and collateral holders. The fund’s assets shall be invested in such a way that the fund is to be deemed to be an The custodian for the fund’s assets is equity fund for tax purposes in accordance Skandinaviska Enskilda Banken AB, co. reg. with the provisions in §27 item 1 in the Income no. 508082-9081. Tax Act (1947:576). § 2 Investment policy The fund’s trading in financial instruments shall mainly take place on stock markets, The overall financial objective of the fund, authorised market places and other regulated subject to observance of due caution, is to markets that are open to the public and achieve the highest possible capital growth subject to supervision by the government or and a sound diversification of risk. By capital any other authorised body in countries within growth is meant realised and unrealised the EU and EFTA, Australia, Hong Kong, capital gains on the fund’s holdings plus Japan, Canada, Singapore and the USA, as dividends received and interest received after well as on stock markets, authorised market deduction of costs and any taxes. places and other regulated market that are open to the public and subject to supervision The fund’s assets shall be invested in shares by the national supervisory authority or other and equity-related securities, certificates of authorised body in Argentina (Buenos Aires), deposit, hereinunder jointly called financial Brazil (Sao Paolo), Chile (Santiago), Colombia instruments. In geographical terms, the fund’s (Bogota), Estonia (Tallinn), the Philippines investment policy is global. At least 10 % of (Manila), India (Bombay), Indonesia (Jakarta), the fund’s assets shall be invested in shares China (Shenzen and Shanghai), Korea and equity-related financial instruments, and at (Seoul), Latvia (Riga), Malaysia (Kuala least 10 % in fixed income securities and Lumpur), Mexico (Mexico City), New Zealand financial instruments based on such securities. (Wellington), Peru (Lima), Poland (Warsaw), Otherwise the fund’s policy is diversified and it Russia (Moscow), Slovakia (Bratislava), does not concentrate on any particular Taiwan (Taipei), Thailand (Bangkok), the industry. Czech Republic (Prague), Hungary (Budapest), and Venezuela (Caracas). The fund’s trading in financial instruments shall mainly take place on stock markets, authorised market places and other regulated §§ 3-12 See Lannebo Sverige markets that are open to the public and subject to supervision by the government or Lannebo Mixfond any other authorised body in countries within the EU and EFTA, Australia, Hong Kong, Japan, Canada, Singapore and the USA, as § 1 Fund, fund management company and well as on stock markets, authorised market custodian places and other regulated market that are open to the public and subject to supervision The name of the fund is Lannebo Mixed Fund. by the national supervisory authority or other The business is conducted on the basis of the authorised body in Argentina (Buenos Aires), Swedish Act (1990:1114) concerning Brazil (Sao Paolo), Chile (Santiago), Colombia Securities Funds, these fund rules, the (Bogota), Estonia (Tallinn), the Philippines management company’s articles and such (Manila), India (Bombay), Indonesia (Jakarta), 11
  12. 12. China (Shenzen and Shanghai), Korea Australia, Japan, Canada, Norway, (Seoul), Latvia (Riga), Malaysia (Kuala Switzerland and the USA. Lumpur), Mexico (Mexico City), New Zealand (Wellington), Peru (Lima), Poland (Warsaw), The fund may own unlimited amounts of fixed- Russia (Moscow), Slovakia (Bratislava), income securities issued or guaranteed by Taiwan (Taipei), Thailand (Bangkok), the sovereign states, municipalities, state or Czech Republic (Prague), Hungary municipal authorities in countries within the EU (Budapest), and Venezuela (Caracas). or by general international organs in which one or more countries in the EU are members, The fund’s trading in fixed-income securities provided that they derive from at least six and financial instruments based on such different issues and that none of the acquired securities shall mainly take place on stock holdings exceeds 30 % of the value of the markets, authorised market places and other fund. The fund as a licence from regulated markets that are open to the public Finansinspektionen pursuant to §20 in the Act and subject to supervision by the national concerning Securities Funds. supervisory authority or another authorised body in states that members of the EU, § 3-12 See Lannebo Sverige 12
  13. 13. Lannebo Fonder AB Postal address: Box 7854, S-103 99 Stockholm, Sweden. Office address: Norrmalmstorg 1 Telephone: +46 8 562 252 00 Fax: +446 8 562 252 52. Customer service: +46 8 562 252 22 E-mail: info@lannebofonder.se 13

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