Fixed income funds reopen

On Friday, Carnegie Fonder decided to suspend trading in funds that invest in corporate bonds. As a consequence of the substantial turbulence in the market, there was a risk that the valuations (NAV) could be incorrect. It is our duty to ensure that valuations of the funds’ holdings are correct.

During Saturday we reviewed all our portfolios and all their holdings. We have also been in contact with the banks that set prices and have validated the prices of our holdings.

We are now confident that we have the correct valuation of our portfolios, and can therefore open the funds for trading. As of Monday, March 23, the funds will once again be valued as normal.

There have been rumours circulating that the suspension of fund trading was due to large flows or problems at the companies whose bonds we have invested in. This is not correct. Please feel free to follow us on LinkedIn and, where we regularly publish information and comments from the fund managers about the coronavirus crisis.

Feel free to contact your client manager if you have any concerns.

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