Scandinavian Credit Fund I

As an investor in Scandinavian Credit Fund I you get access to an investment product with a high expected return and a low market risk. At the same time, an investment contributes to social benefit, as the investment philosophy is based on direct lending to facilitate for small and medium-sized companies to expand and develop.

Scandinavian Credit Fund I 1
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Who can invest?

Anyone who has a custodian account or VP account via Bank or Fund Commissioner can invest in Profit Sharing Loans, as these are listed on NGM (Nordic Growth Market).
Profit-sharing loans can also be a type of asset in a custodian insurance (equity or pension insurance) or investment savings account (ISK). When investing via custodian insurance or ISK, it should be contacted beforehand with your Försäkringbolaget or your Bank / Fund Commissioner if possible.

Anyone who has a custodian account or VP account via Bank or Fund Commissioner can invest in Profit Sharing Loans, as these are listed on NGM (Nordic Growth Market).
Profit-share loans can also be an asset class in a custodian insurance (occupational pension or equity insurance). When investing through custody insurance, you should contact your insurance company before investing to ensure that this is possible.

Anyone who manages discretionary management assignments can invest in Profit Sharing Loans, as these are listed on NGM (Nordic Growth Market).

Professional investors can invest in Profit Sharing Loans if current legislation and management mandates allow. Contact Kreditfonden for more information.

Risks

All investments are associated with risks and historical returns are no guarantee of future returns. The funds invested in Scandinavian Credit Fund 1 AB can both increase and decrease in value, and it is not certain that anyone investing in Scandinavian Credit Fund 1 AB will recoup all of the invested capital. Below we list the risks associated with an investment in the fund. Before investing, the information brochure and prospectus should be read in full.

Interest rate risk
Interest rate risk The value of the loan share is to a large extent dependent on a number of different factors. One of such factors is the market's general interest rate level, which is why investors in the fund's profit-sharing loans should understand that the development of returns can be adversely affected by changes in interest rates in the markets in which the fund and borrowers operate.
Return Investment Risk
Long-term return opportunities on the profit-sharing loans issued by the Fund are highly dependent on the Fund finding new lending items that require financing and which are also suitable based on the requirements set by the Fund.
Macroeconomic risk
A sharp downturn in the country's or region's economy can affect companies' ability to pay interest and can also result in loan repayments not being completed on time or failing completely. For the Fund, this means a risk that the invested capital will not remain intact or that the return on the invested capital will not be as high as expected or not fully realized. However, the AIF has made an analysis of other funds in other countries that have similar strategies that showed that the funds were not affected at all during, for example, the recent financial crisis.
marketing Risk
The fund's product is relatively new and unknown to smaller investors, so it may be difficult to reach out and attract sufficient investors.
Value development of investments
The fund offers short-term direct lending to small and medium-sized companies to achieve the target, which is a high risk-adjusted return with little or no correlation with other asset classes. Thus, there is no guarantee that the fund's investments will produce the expected return, or that the value of the invested capital is kept intact, and that there is no guarantee that invested capital can be recovered upon redemption. It should be emphasized that the fund will to a large extent invest in small and medium-sized companies that have good liquidity and financial position and who need extra capital for various projects. This means that the fund differs from the objects that private individuals usually have the opportunity to invest in, and also means that you as an investor get a spread of risk that is otherwise difficult to achieve as an individual investor.
Trading with Scandinavian Credit Fund In profit share loans
Investment in the company's profit-sharing loan should primarily be seen as an investment for the entire term of the bond. Profit-sharing loans are freely transferable with the restrictions that apply to the right. The profit share loans will be listed on NGM-NDX where they are priced continuously.
The duration of the investment opportunity and volatility
Investment in the Fund's strategy is associated with risk, also in terms of its duration. However, the Fund estimates that the investment opportunity will remain as long as the banks' capital requirements are at least at the same high level as today. In addition, the Fund's investment strategy is relatively cyclically sensitive, provided that market conditions do not deteriorate significantly.
currency risks
The fund may make investments of a certain portion of the capital in currencies other than the Swedish krona. The fund intends to hedge the investments made in currencies other than the Swedish krona, which is why the risk is considered small.
Credit
The Fund's investment strategy involves a certain credit risk as there is always a risk that the loaned capital will not be repaid to the Fund at the end of the loan's term, which may affect the return. In the event of a significant deterioration in the fund's position, the fund may become unable to fulfill its obligations under the investment agreements concluded with the bondholders.
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2020-02-25
2020-02-27
2020-03-02

Current subscription dates

LAST SUBSCRIPTION DATE
LAST DAY FOR CASH DEPOSITS
SUBSCRIPTION DATE
2020-02-10
2020-03-02
2020-03-11

Current withdrawal dates

REDEMPTION FORM TO US
Settlement
WHEN PAYMENT IS MADE

Fund Performance

MONTHLY PERFORMANCE IN % NET OF FEES

Year
January
February
March
April
May
June
July
August
September
October
November
December
Annual return
20200,510,51%
NAV100,51
20190,520,310,420,360,110,580,580,550,520,460,740,625,77%
NAV100,52100,83101,25101,61101,72102,30102,88103,43103,95104,41105,15105,77
20180,540,560,640,580,580,850,60,530,660,530,520,437,02%
NAV100,54101,10101,74102,32102,90103,75104,35104,88105,54106,07106,59107,02
20170,430,840,810,70,690,610,670,760,620,640,650,718,13%
NAV100,43101,27102,08102,78103,47104,08104,75105,51106,13106,77107,42108,13
2016-0.250,370,310,440,50,690,660,80,630,920,810,766,64%
NAV99,75100,12100,43100,87101,37102,06102,72103,52104,15105,07105,88106,64

Monthly reports

Financial Calendar

Press Releases

2020-02-24Scandinavian Credit Fund I AB (publ) - Announces Information Brochure and General Terms and Conditions for 2020
2020-02-21Scandinavian Credit Fund I AB (publ) - Year-end report 2019
2020-02-13Scandinavian Credit Fund I AB (publ) - Announces Final Terms for Issue 12 2020
2020-02-03Scandinavian Credit Fund I AB (publ) - Announces NAV course 100.51 for January 2020
2020-01-02Scandinavian Credit Fund I AB (publ) - Announces NAV course 105.77 for December 2019
2019-12-13Scandinavian Credit Fund I AB (publ) - Correction of previous mailings regarding the last day for subscription, which has been changed to 2020-01-28 - Announces Final terms for issue 11 2020
2019-12-13Scandinavian Credit Fund I AB (publ) - Announces Final Terms for Issue 11 2020
2019-12-05Scandinavian Credit Fund I AB finances green real estate projects in Jutland through direct loans to Birch Ejendomme
2019-12-02Scandinavian Credit Fund I AB (publ) - Announces NAV course 105.15 for November 2019
2019-11-18Scandinavian Credit Fund I AB signs direct loans with subsidiaries to Mimir Invest AB for financing acquisitions from Epiroc AB
2019-11-07Scandinavian Credit Fund I AB signs significant direct loans with Global Scanning A / S
2019-11-05Scandinavian Credit Fund I AB (publ) - Announces Final Terms for Issue 10 2019
2019-11-04Scandinavian Credit Fund I AB (publ) - Announces NAV course 104.41 for October 2019
2019-10-07Scandinavian Credit Fund I AB (publ) - Announces Final Terms for Issue 9 2019
2019-10-01Scandinavian Credit Fund I AB (publ) - Announces NAV course 103.95 for September 2019
2019-09-02Scandinavian Credit Fund I AB (publ) - Announces NAV course 103.43 for August 2019
2019-08-30Scandinavian Credit Fund I AB (publ) - Interim Report 2019
2019-08-09Scandinavian Credit Fund I AB (publ) - Announces Final Terms for Issue 8 2019 - Announces Suspended Issue 7 of Profit Sharing Loan for 2019
2019-08-01Scandinavian Credit Fund I AB (publ) - Announces NAV course 102.88 for July 2019
Olderhttps://news.cision.com/se/scandinavian-credit-fund-i/

Document

Before investing in Scandinavian Credit Fund I AB, it is important that you read the written material about the fund in order to make an informed decision which means that you understand the risks that exist with the fund and that you understand how the fund works. Therefore, you should carefully read the information brochure, the basic fact sheet as well as the prospectus and its additions. You will find all relevant documents here.

Management Concept

Investment Process
The investment objects are approved by an investment committee after a well-developed credit process. The Fund strives to consistently engage with borrowers whose expected return is attractive in relation to the credit risk that the commitment entails. The individual commitments are weighed against each other in order to achieve an efficiently 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 should 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 shares
The Fund may, on a selective basis, invest funds in fund units in similar funds without geographical limitation.

Derivative
The fund has the opportunity to use derivative instruments, partly to reduce such undesirable risks and partly to obtain exposures that are deemed attractive to the fund and its risk profile.

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

Deposits to bank
The fund may place liquidity with credit institutions after a credit check.

Profit Sharing Interest

Scandinavian Credit Fund I AB's return (annual Profit Share Rate) will be converted into new Profit Share Loans to Profit Share Loan holders. For each financial year, the Fund shall determine the Profit Share Rate for the management of the Investment Portfolio in accordance with generally accepted accounting principles.

Profit share interest accruing to the Profit Share Loan holders shall be made on the Interest Maturity Date by issuing additional Profit Share Loans. The profit share rate shall be rounded down to the nearest krona and rounded off at the custodian institution level.

You will find full terms and conditions here.

On January 13, the rate will be reduced to 100.00 after booking the Profit Share Rate and the new nominal amount for the Profit Loan should be shown in the respective custody account on January 23.

Important! This means that during the period from January 13 until the custodian institution has issued the new Profit Sharing Loans, there appears to be a negative return on the deposit.

How can the Profit Share Rate and Value be calculated?

Example 1
Investment in the fund was made on 1 February 2017

Invested capital SEK 100,000 at NAV rate 100.43. It gives a nominal SEK 99,500 (100,000 / 1,0043 = 99,571, which is rounded to 99,500)

The value of the investment on 1 February 2017 was SEK 99,927 (99,500 * 1,0043).

The NAV rate on January 2, 2018 is 108.13 before the issue of Profit Share Interest.
The value of the investment on January 2, 2018 was SEK 107,589 (99,500 * 1,0813).

The return (Profit share interest) is paid to the investor in the form of new profit share loans, giving the total nominal amount SEK 107,589 *)
New NAV rate 10/1 2018 is 100.00 after the issue of Profit Share Interest

The value of the holding after the issue of new profit share loans will then be SEK 107,589 (107,589 * 1,0000)

Example 2
Investment in the fund was made on July 3, 2017

Invested capital SEK 100,000 at NAV price 104.08. It gives a nominal SEK 96,000 (100,000 / 1,0408 = 96,079, which is rounded to 96,000).

The value of the investment on July 3, 2017 was SEK 99,916 (96,000 * 1,0408)

The NAV rate on January 2, 2018 is 108.13 before the issue of Profit Share Interest.
The value of the investment on January 2, 2018 was SEK 103,804 (96,000 * 1.0813).
The return (Profit share interest) is paid to the investor in the form of new profit share loans, which gives the total nominal amount SEK 103,804 *)

New NAV rate 10/1 2018 is 100.00 after the issue of Profit Share Interest
The value of the holding after the issue of new Profit Shares will then be SEK 103,804 (103,804 * 1,0000)

*) As rounding of the Profit Share Rate occurs at the custodian level, the new nominal amount may vary from these examples.

Note that after the Swedish Financial Supervisory Authority's approval of the AIF Fund's addition to the prospectus in December 2017, the nominal amount has changed from SEK 100 to SEK 1.

Traded Markets

The main activity of the Fund is to provide loan capital to small and medium-sized companies with funds that influence the offer through this prospectus. The fund's lending objects are primarily found in Scandinavia. The fund may also invest on a selective basis in fund units in similar funds or through co-financing with national or international partners without geographical limitation. Through this, the fund intends to create an investment that has lower risk than equities and better return potential than traditional fixed income investments.

Management Fee

Management fees are paid partly in the form of a fixed remuneration and partly in the form of a profit-sharing remuneration.

The fixed remuneration amounts to 1.6 per cent per year. The fixed remuneration is paid quarterly.

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

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

Redemptions

Sales and redemption of profit share loans are made on the first banking day of each month.

Notification must be made on a special form. (Subscription can be made for 4 banking days before each change of month, February to December, not January)

You can also subscribe with BankID via mangold.se/emission/teckning

The minimum amount for subscription is SEK 100,000.

Redemption must be made by Scandinaviska Kreditfonden AB no later than 15 banking days before the end of the month when the redemption must take place and must take place on special form.