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The new regulations are part of a broader effort to modernise the financial markets and to align with global standards. Specifically, the new regulations speed up the settlement cycle from T+2 to T+1 (from two trade days to one). This change allows for faster trades and more efficient management, as the shorter settlement cycle minimises exposure to market risk, counterparty risk, and credit risk.  

As a result of these regulatory changes, we need to adjust our operational processes to accommodate the shorter settlement period. We are therefore changing the cutoff times for transactions in the funds. 

What is happening in brief

  • As of 28 May 2024, for all transactions involving US securities, the financial sector will transition from the current settlement standard of trade date plus two business days, to a settlement standard of trade date plus one business day.
  • As of 21 May 2024, the Norwegian-domiciled funds managed by Storebrand Asset Management will change cutoff time to 13:00 CET (previously 15:00 CET) 

What this means for you

Given the shorter settlement time for US securities, as of 21 May, the following cutoff times will apply in order for the price on the day of transaction (NAV) to be valid for the relevant transaction: 

  • Purchase of funds involving transfer from an external bank account; before 9:00 CET
  • Purchase of funds involving transfer from an internal account; before 13:00 CET
  • Redemptions; before 13:00 CET
  • Fund switches; before 13:00 CET 

If you have any queries about the above changes, please send an email to  


Historical returns are no guarantee for future returns. Future returns will depend, inter alia, on market developments, the fund manager’s skills, the fund’s risk profile and management fees. The return may become negative as a result of negative price developments. There is risk associated with investing in funds due to market movements, currency developments, interest rate levels, economic, sector and company-specific conditions. The funds are denominated in NOK. Returns may increase or decrease as a result of currency fluctuations. Prior to making a subscription, we encourage you to read the fund's prospectus and key investor information document which contain further details about the fund's characteristics and costs. The information can be found on Storebrand Asset Management administers the SKAGEN funds which are by agreement managed by SKAGEN's portfolio managers.