SEBinvest - Danske Aktier Akkumulerende AKL Stock

Sebinvest Danske Aktier (Akkumulerende) (the Fund) is a Denmark-based investment trust. It is engaged in making specialty investments in the equities of companies listed in Denmark. The Fund operates a portfolio typically comprised of 20 to 35 companies. As of December 11, 2012, it primarily invested in such sectors, as finance (27.72%), industry (25.05%), and medicine and health (23.79%), among others, and most of its investments were located in Denmark (89%), Sweden (3.46%) and the United Kingdom (3.23%). As of August 31, 2012, the Fund's principal shareholdings comprised Novo-Nordisk (9.74%), Danske Bank (8.95%), Coloplast (7.91%), Carlsberg (6.69%) and A.P. Moeller - Maersk (6.42%), among others. Sebinvest Danske Aktier Akkumulerende is a division of Investeringsforeningen SEBinvest, an investment association based in Denmark.