Finserve Nordic Factoring Fund

Investment process
The investment objects are approved by an investment committee after a well-developed credit process. The fund strives to consistently enter into engagements with borrowers whose expected return is attractive in relation to the credit risk involved in the engagement. The individual commitments are balanced against each other in order to achieve an effectively balanced credit risk for the fund as a whole. The investment objects have a low correlation with other markets and the risk in the fund must primarily be driven by credit risk and return for the fund as a whole.

Direct lending to companies
The fund's lending objects are primarily found throughout Scandinavia and are aimed at companies that are in some form of expansion, investment, refinancing, restructuring, generational financing, seasonal or other needs.

Fund units
The fund can, on a selective basis, place funds in fund shares in similar funds without geographical restriction.

Derivative
The fund has the option of using derivative instruments, partly to reduce risks that are undesirable, partly to obtain exposures that are deemed attractive for the fund and its risk profile.

Interest-bearing instruments
The fund can invest liquidity in bonds.

Deposit to bank
The fund can place liquidity with credit institutions after a credit check.

Management fee is paid partly in the form of a fixed remuneration, partly in the form of a profit-sharing remuneration.

The fixed compensation amounts to 1.6 percent per year. The fixed compensation is paid quarterly.

Profit sharing amounts to 20 percent of the fund's increase in value in addition to the average return on 3-month treasury bills after the "high watermark". High watermark means that the fund only pays a performance-based fee after any underperformance from previous periods has been compensated. The performance-based compensation is paid annually.

Brokerage, clearing fees and other transaction costs attributable to the fund's investments are paid on an ongoing basis by the fund.

The fund will be open for Early Redemption on January 1, April 1, July 1 and October 1. In order for the fund to be able to plan its liquidity, we need to receive requests for early Redemption 90 days before the next quarter. In practice, this means that redemption needs to be available to us no later than December 31, March 31, June 30 and September 30 in order to receive redemption for the next calendar quarter.

The fund's liquidity under normal conditions amounts to 3-6% of the portfolio. If the Fund lacks sufficient liquid funds, funds for redemption must be acquired by divesting parts of the Portfolio. If such divestment due to prevailing market conditions or according to the Fund's assessment would significantly disadvantage other Investors, the Fund may delay such divestment until such divestment can take place in good order.

If funds for redemption need to be acquired through the sale of property included in the Fund, the sale must take place and the redemption executed as soon as possible. The fund may postpone the sale and redemption of the shares, if there are special reasons for the measure and it is justified by taking into account the interests of the Investors.

Redemption takes place at the NAV rate determined at the end of the calendar year quarter closest to the redemption date.

You can find the redemption form under Documents on this page.