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Proposal to merge SKAGEN Avkastning with Storebrand Kreditt

Storebrand Asset Management AS has announced its proposal to merge the fixed income fund SKAGEN Avkastning with Storebrand Kreditt.  

Date: 14/10/25

Oscar Björck, Launching the boat. Skagen, 1884. This painting is manipulated and belongs to The Art Museums of Skagen.

Both funds share similar investment strategies and are managed by the same team, so this merger is designed to streamline operations and maintain consistency for investors. 

What this means for you as a unitholder in SKAGEN Avkastning 

As a unitholder in SKAGEN Avkastning, your current fund units will be merged into Storebrand Kreditt. After the merger, your investments will follow the Storebrand Kreditt strategy.  

Key points: 

  • Both funds are actively managed and invest in Norwegian fixed income securities with medium interest rate and credit risk.
  • Storebrand Kreditt can invest in a higher proportion of bonds rated BB and B compared to SKAGEN Avkastning. As such, their index compositions differ slightly. 
  • The interest duration is about the same for both funds, but Storebrand Kreditt carries a slightly higher credit risk. 

Merger process 

The merger process has already received approval from Storebrand’s board, including the unitholder-elected members, as well as the Financial Supervisory Authority of Norway. However, the final decision rests with the unitholders of both funds.  

For the merger to proceed, at least 75% of the represented units in each fund must vote in favour. To facilitate this, a unitholder meeting is scheduled for 11 November 2025. Details about the meeting and voting procedures are included in the official invitation, and you can already submit your vote using the provided voting form. 

If approved, the merger is planned for 5 December 2025. Storebrand will announce the completion of the merger on its website, and you will be able to exercise your rights as a unitholder in the new fund starting from the first business day after the merger. 

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. The information can be found on www.skagenfunds.com. Storebrand Asset Management administers the SKAGEN funds which are by agreement managed by SKAGEN's portfolio managers.