New custodian bank and administrator for Danske Invest funds in Luxembourg

Several sub-funds in two Danske Invest funds in Luxembourg are replacing their custodian bank and fund administrator.

After a thorough selection process, Danske Invest has appointed J.P. Morgan as the new custodian bank for the two funds in Luxembourg.  J.P. Morgan is replacing CACEIS Investor Services Bank S.A.
The custodian bank is being changed so that we have a market-leading provider across all our funds. This will provide a more streamlined operating model, aligned to the custody model in place since April 2022 for the Danske Invest funds domiciled in Denmark.

J.P. Morgan offers a wider range of services, which means that Danske Invest will be able to offer relevant and ever more advanced products in the future.  You can see which specific funds are affected below.

Suspension of trading in Luxembourg domiciled funds for up to four business days in November
In connection with the change of custodian bank from CACEIS to J.P. Morgan, for practical reasons it will be necessary to temporarily suspend trading in Danske Invest SICAV and Danske Invest Allocation for up to four business days towards the end of November.  In other words, trading in all sub-funds will be suspended. The dates will vary from fund to fund during the period of 21 or 22 November to 27 November, when it will be possible to resume trading. The dates are dependent on the trading process in the underlying markets and vary to ensure correct settlement and accounting of trades in the sub-funds.

When trading is suspended, it means that no one can buy or sell shares in the funds in scope. The table below shows which funds are affected and on which days trading is suspended.
The purpose of the suspension is to protect you as an investor. In connection with the change of custodian bank, for a period of time it is not possible for the managers to trade the funds’ investments and cash until they have been transferred to the new custodian bank. Trading is thus being suspended to ensure that our shareholders do not trade at an incorrect price. The change of custodian bank is expected to be completed by 28 November at the latest. Should plans change, you will be informed via the Danske Invest website.
 

Fund Name Last trading day before suspension Open again for trading EMERGING MARKETS DEBT HARD CURRENCY 11/21/2023 11/27/2023 EURO HIGH YIELD BOND 11/21/2023 11/27/2023 EUROPE LONG-SHORT EQUITY FACTORS 11/21/2023 11/27/2023 EUROPEAN CORPORATE SUSTAINABLE BOND 11/21/2023 11/27/2023 GLOBAL CORPORATE SUSTAINABLE BOND 11/21/2023 11/27/2023 NORDIC CORPORATE BOND 11/21/2023 11/27/2023 EURO INVESTMENT GRADE CORPORATE BOND 11/21/2023 11/27/2023 GLOBAL ALTERNATIVE OPPORTUNITIES 11/21/2023 11/27/2023 GLOBAL TACTICAL ALLOCATION 11/21/2023 11/27/2023 MULTI ASSET INFLATION STRATEGY 11/21/2023 11/27/2023 AKTIV FÖRMÖGENHETSFÖRVALTNING 11/21/2023 11/27/2023 GLOBAL INDEX 11/21/2023 11/27/2023 GLOBAL INDEX RESTRICTED 11/21/2023 11/27/2023 SVERIGE 11/21/2023 11/27/2023 SVERIGE 11/21/2023 11/27/2023 SVERIGE BETA 11/21/2023 11/27/2023 SVERIGE KORT RäNTA 11/21/2023 11/27/2023 SVERIGE RäNTA 11/21/2023 11/27/2023 SVERIGE SMÅBOLAG 11/21/2023 11/27/2023 GLOBAL INFLATION LINKED BOND 11/21/2023 11/27/2023 GLOBAL INFLATION LINKED BOND SHORT DURATION 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION - BALANCED 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION - DEFENSIVE 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION - GROWTH 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION - OPPORTUNITY 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION - STABLE 11/21/2023 11/27/2023 CHINA 11/21/2023 11/28/2023 DANISH BOND 11/21/2023 11/28/2023 DANISH MORTGAGE BOND 11/21/2023 11/28/2023 DENMARK FOCUS 11/21/2023 11/28/2023 EMERGING MARKETS SUSTAINABLE FUTURE 11/21/2023 11/28/2023 EUROPE 11/21/2023 11/28/2023 EUROPE HIGH DIVIDEND 11/21/2023 11/28/2023 EUROPE SMALL CAP 11/21/2023 11/28/2023 GLOBAL EMERGING MARKETS 11/21/2023 11/28/2023 GLOBAL EMERGING MARKETS SMALL CAP 11/21/2023 11/28/2023 GLOBAL SUSTAINABLE FUTURE 11/21/2023 11/28/2023 INDIA 11/21/2023 11/28/2023 JAPAN 11/21/2023 11/28/2023 GLOBAL PORTFOLIO SOLUTION DKK - BALANCED 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION DKK - DEFENSIVE 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION DKK - GROWTH 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION DKK - OPPORTUNITY 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION DKK - STABLE 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION EUR - BALANCED 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION EUR - DEFENSIVE 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION EUR - GROWTH 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION EUR - OPPORTUNITY 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION EUR - STABLE 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION NOK - BALANCED 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION NOK - DEFENSIVE 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION NOK - GROWTH 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION NOK - OPPORTUNITY 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION NOK - STABLE 11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION SEK- GROWTH  11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION SEK- BALANCED  11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION SEK- DEFENSIVE  11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION SEK- OPPORTUNITY  11/21/2023 11/27/2023 GLOBAL PORTFOLIO SOLUTION SEK- STABLE 11/21/2023 11/27/2023 HORISONT AKTIE 11/21/2023 11/27/2023 HORISONT BALANSERAD 11/21/2023 11/27/2023 HORISONT FÖRSIKTIG 11/21/2023 11/27/2023 HORISONT OFFENSIV 11/21/2023 11/27/2023 HORISONT RÄNTA 11/21/2023 11/27/2023 BASIC 100 11/21/2023 11/28/2023 BASIC 20 11/21/2023 11/28/2023 BASIC 35 11/21/2023 11/28/2023 BASIC 50 11/21/2023 11/28/2023 BASIC 80 11/21/2023 11/28/2023

As an investor in the funds in scope, you will not be affected by the change of custodian bank, apart from the fact that you cannot trade during the above-mentioned days. The change is covered by the funds’ total management and administration fees and will not result in any price increases for investors, and you do not need to do anything in connection with the change.

Commission de Surveillance du Secteur Financier (CSSF) – the Luxembourg financial supervisory authority – has approved the switch from CACEIS to J.P. Morgan and the subsequent trading suspension for up to four business days.  

You can read more in the Shareholder Notice for Danske Invest SICAV and Danske Invest Allocation (in English).