Establishment of a VPS account
To subscribe units in SKAGEN Funds you must have an account in the Norwegian Central Securities Depository (VPS). If you do not have an account, SKAGEN Funds will open one automatically and free of charge upon the first subscription.
Subscription
SKAGEN funds’ prices are set in NOK and we also calculate the prices in SEK, DKK, EUR, GBP, USD and CHF. You may select the preferred currency you wish to subscribe in thus avoiding extra costs associated with exchange rate transactions. Each fund has its own bank account with our custodian Svenska Handelsbanken. You are responsible for making sure that payment is made in the correct currency to the correct account using the relevant IBAN. Those clients transferring money from foreign banks to our funds will receive the relevant unit price on the day payment is credited to the fund's bank account. The transaction may take a couple of days to be processed due to the delay in transferring money between banks from abroad.
Download a subscription form and send us the completed form and attached information by fax or post along with payment.
If you have a NOK bank account in a Norwegian Bank and makes a subscription in NOK, SKAGEN Funds can debit your bank account when this is preferred, so long as there are no restraints on the account.
Subscription forms received before 1500 CET will receive the unit price of the day, as long as money is transferred the same day (when subscribing in amount). Trade date will be when the amount is credited to the funds bank account, unless otherwise agreed.
Redemption
To sell units in our funds directly through SKAGEN Funds, download a redemption form and send it back to us signed and completed. There is no minimum redemption amount. Redemptions can be made by selling a number of units or a given amount.
All redemptions in SKAGEN Funds can be settled in NOK or any of the currencies which we price our funds in – please specify on the redemption form your required currency. If you redeem in NOK and your bank account does not accept NOK, your bank will convert the amount into the preferred currency using their exchange rates. Any currency risk associated with the bank transaction is then assumed by the unit holder. Any costs associated with currency conversion / bank charges made by your bank are your responsibility.
Redemptions in our funds will receive the relevant price on the day that we receive and register the redemption order. Please be aware that redemption orders must be received by SKAGEN Funds by 1500 CET in order to qualify for the current day’s price. Orders received after 1500 CET will be processed with the following working day’s price.
Payment and settlement of redemption orders will be executed one day after the order has been registered. The time delay before the money is visible in your account will depend on how long it takes for the banks to process the interbank transfer.
Please be aware that we cannot redeem units unless we have an approved copy of your ID. For more information on this please click here.
Transfers between SKAGEN Funds
You will receive the relevant unit price the day SKAGEN Funds receives the order for transferring funds (orders must be received before 1500 CET). Download the relevant form here.
