Agenda
1. The Board of Directors’ review of the previous year.
2. Presentation of the annual report for adoption, proposal for the allocation of profit for the year, any proposals for the allocation of proceeds in relation to asset realisations as well as approval of the remuneration of board members, cf Article 19(6) of the Articles of Association.
3. Proposals submitted by the Board of Directors or investors.
Proposals submitted by the Board of Directors:
a) To change the names of the index funds Danmark Indeks KL, Verden Lav Volatilitet Indeks KL, Morningstar Sustainability Leaders Index KL and Verden Etik Indeks according to the below:
| Current name | New name |
|---|---|
| Danmark Indeks KL | Indeks Danmark KL |
| Verden Lav Volatilitet Indeks KL | Indeks Globale Aktier Lav Risiko KL |
| Morningstar Sustainability Leaders Index | Indeks Morningstar Leaders |
| Verden Etik Indeks KL | Indeks Verden Screened KL |
The reason for the proposal for the name change is for alignment purposes and to clarify that the funds are index funds and consequently pursue a passive investment strategy. Furthermore the funds Morningstar Sustainability Leaders Index and Verden Etik Indeks KL use ESG-related or sustainability-related terms in their names and therefore the name changes are proposed so that they will comply with the future guidelines applying specifically to funds’ use of ESG-related or sustainability-related terms in their names.
b) To change the investment strategy of the fund Tyskland KL from active management to passive management and at the same time to change its name to Indeks Tyskland KL. Furthermore the benchmark of the fund will be changed.
The reason for the proposal to change the investment strategy and the name is a decline in the fund’s assets and because the fund’s relative performance has not been satisfactory. There is a wish to retain a German profile as regards the future index fund because the fund can thereby maintain its claim regarding dividend tax with the German authorities.
c) To change the name of the fund Bæredygtige Aktier KL to Kvalitetsaktier KL.
The reason for the proposal for the name change is to adapt the fund’s name so that it complies with the future guidelines applying specifically to funds’ use of ESG-related or sustainability-related terms in their names.
d) To change the names of the funds HøjrenteLande Mix ESG KL, HøjrenteLande Mix ESG Akkumulerende KL, HøjrenteLande Mix Etik Akkumulerende KL and HøjrenteLande Lokal Valuta Akkumulerende KL according to the below:
| Current name | New name |
|---|---|
| HøjrenteLande Mix ESG KL | HøjrenteLande KL |
| HøjrenteLande Mix ESG Akkumulerende KL | HøjrenteLande Akkumulerende KL |
| HøjrenteLande Mix Etik Akkumulerende KL | Emerging Market Blended Debt Acc KL |
| HøjrenteLande Lokal Valuta Akkumulerende KL | HøjrenteLande LC Akkumulerende KL |
The reason for the proposal for the name change is to simplify the names to suit the respective investor segments. Furthermore the funds HøjrenteLande Mix ESG KL, HøjrenteLande Mix ESG Akkumulerende KL and Højrentelande Mix Etik Akkumulerende KL use sustainability-related or ESG-related terms in their names and therefore the name changes are proposed so that they will comply with the future guidelines applying specifically to funds’ use of sustainability-related or ESG-related terms in their names. The funds HøjrenteLande LC Akkumulerende KL and Emerging Market Blended Debt Acc KL only have unit classes W and I, which are reserved for collective investment schemes and investors with individual portfolio management agreements.
e) To change the name of the fund Blandede Obligationer ESG KL to Formue Obligationer KL. Furthermore it is proposed that the investment strategy and the fund’s benchmark composition be changed.
The reason for the proposal for the name change, the change in investment strategy as well as a change in the benchmark composition is due to a new approach as regards the ESG area compared to the fund’s original investment policy. Furthermore the fund uses sustainability-related or ESG-related terms in its name and therefore the name change is proposed so that it will comply with the future guidelines applying specifically to funds’ use of sustainability-related or ESG-related terms in their names. It is proposed that the name and investment strategy be changed so that it can be combined with the products of Værdipapirfonden Sydinvest.
f) To change the names of the funds USA Ligevægt & Value KL, USA Ligevægt & Value Akkumulerende KL, Europa Ligevægt & Value KL, Verden Ligevægt & Value KL, Verden Ligevægt & Value Akkumulerende KL according to the below:
| Current name | New name |
|---|---|
| USA Ligevægt & Value KL | USA Value KL |
| USA Ligevægt & Value Akkumulerende KL | USA Value Akkumulerende KL |
| Europa Ligevægt & Value KL | Europa Value KL |
| Verden Ligevægt & Value KL | Global Value KL |
| Verden Ligevægt & Value Akkumulerende KL | Global Value Akkumulerende KL |
Furthermore it is proposed that the above funds change their investment strategy as well as their benchmark.
The reason for the proposal for the name change and the change in investment strategy is to allow the portfolios to deviate from the equal-weight strategy if this is advantageous to the portfolios. If the equal-weight strategy is deviated from the names do not support in a material way the funds’ investment objective and investment policy and therefore it is proposed that “ligevægt” (equal-weight) be deleted from the names.
g) To change the name of the fund Verden Ligevægt & Value Etik KL to Globale Aktier PM Screened KL and at the same time to change the investment strategy.
The reason for the proposal for the name change and the change in investment strategy is to allow the portfolio to deviate from the equal-weight strategy if this is advantageous to the portfolio. If the equal-weight strategy is deviated from the name does not support in a material way the fund’s investment objective and investment policy and therefore it is proposed that “ligevægt” (equal-weight) be deleted from the name. The fund only has a unit class W, which is reserved for collective investment schemes and investors with individual portfolio management agreements.
h) To change the names of the funds Virksomhedsobligationer HY Etik KL and Virksomhedsobligationer IG Etik KL according to the below:
| Current name | New name |
|---|---|
| Virksomhedsobligationer HY Etik KL | Virksomhedsobligationer HY Screened KL |
| Virksomhedsobligationer IG Etik KL | Virksomhedsobligationer IG Screened KL |
The reason for the proposal for the name change is to adapt the funds’ names so that they comply with the future guidelines applying specifically to funds’ use of ESG-related or sustainability-related terms in their names.
i) To delete the funds’ secondary names where it is not considered relevant. It is proposed that the following secondary names be preserved:
| Name | Secondary name |
|---|---|
| HøjrenteLande KL | Emerging Market Bonds KL |
| Mellemlange Obligationer Akkumulerende KL | Danish Bonds Acc KL |
| HøjrenteLande Akkumulerende KL | Emerging Market Bonds Acc KL |
| HøjrenteLande LC Akkumulerende KL | Emerging Market Local Currency Bonds Acc KL |
| Global Value Akkumulerende KL | Global Value Equities Acc KL |
| Fjernøsten Akkumulerende KL | Far East Equities Acc KL |
| Globale EM-aktier Akkumulerende KL | Global EM Equities Acc KL |
4. Election of board members.
A description of nominated candidates is available at sydinvest.dk.
5. Appointment of auditor.
6. Any other business.
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