SEB starts new fund - SEB Wireless Communication

SEB starts new fund - SEB Wireless Communication The fund will invest globally in companies involved in wireless communications, mainly mobile Internet, and is one of the first of its type in the world. SEB Wireless Communication will initially invest in the following segments: equipment, components, operators, software and services as well as information and media. The fund is a high-risk product and should represent a touch of spice in a portfolio. "Our customers are demanding more specialised funds with high risk. Consequently, we have started several funds of this type and SEB Wireless Communication is the latest. In the new economy, wireless technology will play a very large and important role. Accordingly, it feels totally correct to start such a fund now, when we can 'be there from the start'," says Claes-Johan Thureson, Head of SEB Fonder. The fund will be globally invested, focusing on Europe, particularly Scandinavia, as well as the US and Japan. The fund will be administered by the same team that manages SEB's Teknologifond (Technology Fund) and Internetfond (Internet Fund), which are led by Thor Udenaes. "So far, the Internet has been the leader in technical development, but in the not too distant future the mobile segment will be at the leading edge. Development has just begun and the number of mobile users is still rising sharply," says Thor Udenaes, manager responsible for SEK Wireless Communication. Sales of SEB Wireless Communication will begin on 5 June this year. The fund will invest in 30 to 50 companies, of which about 90 percent will be listed. The start price will be EUR 1, about SEK 8.40 and is open for monthly instalment savings as well as lump-sum subscriptions. The management fee is 1.5 percent. For further information, contact: Claes-Johan Thureson, Head of SEB Fonder, +46 8 763 69 85 Thor Udenaes, responsible manager, +46 8 788 62 50 Boo Ehlin, Press Relations Manager, +46 8 763 8577, +46 70 763 85 77 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/30/20000530BIT00430/bit0001.doc http://www.bit.se/bitonline/2000/05/30/20000530BIT00430/bit0002.pdf