Transactions UK

1. Set up an account

To subscribe units in SKAGEN Funds, you need to set up an account with SKAGEN Funds.

2. Subscription

SKAGEN funds' prices are set in NOK and we also calculate the prices in SEK, DKK, EUR, GBP, USD and CHF. Select the currency you wish to subscribe in to avoid extra costs associated with exchange rate transactions.

Please ensure that payment is made in the correct currency to the correct account using the relevant IBAN. If you are transferring money from a foreign bank, you will receive the relevant unit price on the day payment is credited to the fund's bank account. It may take a couple of days for the transaction to be processed due to the delay in transferring money between banks from abroad.

Please note that all payments to SKAGEN must be sent as a SWIFT MT103. We are not a bank and therefore cannot receive SWIFT MT202 messages. Payments made as a SWIFT MT202 will be returned by our custodian bank.

Please send the completed subscription form(s) as an attachment by e-mail to fund@skagenfunds.com and initiate the payment. Please ensure that the form has been signed in accordance with the latest authorised list of signatories. 

Subscription forms received before 10am (UK time) will receive the unit price of the day, as long as the payment is credited to the fund's bank account the same day. This applies when subscribing in amounts, unless otherwise agreed.

3. Redemption

To sell units in our funds directly through SKAGEN, please send a completed and signed redemption form as an attachment by e-mail to fund@skagenfunds.com

All redemptions in SKAGEN can be settled in GBP to a GBP bank account or any of the currencies which we price our funds in. If you redeem in NOK and your bank account does not accept NOK, your bank may return the amount to SKAGEN or alternativley convert the amount into the preferred currency using their exchange rates. Any currency risk or charges made by your bank are your responsibility.

Redemptions in our funds will receive the relevant price on the day that we receive the redemption order. Please be aware that redemption orders must be received by SKAGEN before 2pm (UK time) in order to qualify for the current day's price. Orders received after cut-off time will be processed with the following working day's price.

Payment and settlement of redemption orders will normally be executed one day after the order has been registered. The time delay before the money is visible in your account will depend on how long it takes for the banks to process the interbank transfer.

4. Switch

You will receive the relevant unit price the day SKAGEN receives the switch order. Orders must be received before 2pm (UK time) in order to qualify for the current day's price.

5. Transfer of units

If you wish to transfer SKAGEN units, you can forward a stock transfer form as an attachment by e-mail to fund@skagenfunds.com