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SKAGEN Tellus to close
SKAGEN has decided to close its global bond fund SKAGEN Tellus. The liquidation will be effective from 28.10.2022.
SKAGEN Tellus was established in September 2006, offering investment in a portfolio of bonds and certificates issued or guaranteed by governments from around the world. SKAGEN Tellus has not attracted sufficient assets in recent years[1] as the mandate has proven challenging to sell and the fund appears to have limited prospects of reaching a sustainable size. SKAGEN therefore believes that closing the fund is in the best long-term interests of clients.
The portfolio manager of SKAGEN Tellus, Sondre Solvoll Bakketun, will remain within the SKAGEN portfolio team.
The Norwegian FSA has approved the liquidation, unit holders have been informed and trading in the fund has been suspended.
If you have any questions regarding the liquidation, please contact Customer Services on +47 51 80 37 09.
[1] As of 28 October 2022, SKAGEN Tellus had EUR 30 million in assets under management.