SEB Russia

The investment objective of the Sub-Fund is to achieve capital appreciation through investment in a portfolio consisting primarily of Russian equities and/or CIS equities. In pursuit of its investment objective the Sub-Fund will invest mainly in equities and equity related transferable securities issued by companies having their registered office in a member state of the Commonwealth of Independent States ("CIS") as well as issued by companies which carry out a preponderant part of their activity in Russia and/or any other CIS member country which will be listed and traded on a regulated market.