OP-America Small Cap Fund

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Beyond technology giants, there is a vast market in the US for small cap companies with enormous return potential. The US is a promised land of inventions and product development, and new innovative companies are constantly entering the market. Among them you'll find tomorrow's stock market success stories.

As a unitholder, you benefit from OP Asset Management's professional portfolio management and extensive diversification. From a large group of potential investments, the fund selects 100 to 150 companies that are seen as having particularly high long-term return potential. The selections are based on an analysis of large amounts of data and emphasise moderate valuation and good profitability.

In addition to market knowledge, achieving long-term returns requires risk management, which the fund carries out through sustainable investing, among other means. Companies producing fossil fuels, for example, are excluded from the fund because we perceive them as risky investments. Controversial sectors, such as the tobacco industry, are ruled out as well. Target companies are also screened regularly to ensure compliance with good governance, such as international taxation norms.

Why invest in the OP-America Small Cap fund

Good choice for return-oriented investors – There is plenty of room for growth behind the stock market's tech giants
Benefit from active portfolio management that selects a wide group of interesting companies to the fund
Diversify your portfolio effectively on the world's largest stock market

OP-America Small Cap

morningstar™

Online fees and charges

SUBSCRIPTION FEE	ANNUAL MANAGEMENT FEE	REDEMPTION FEE
0,75 %	1,60 %	0,75 %

Agreements under a systematic investment plan are not subject to subscription fees. Fund units generate OP bonuses.

More information on the fund

The US is the home of entrepreneurship which continues to invest heavily in research and development. Ideas and innovations continuously generate new small companies. From a huge selection of companies, stocks estimated to have the best elements for long-term earnings growth are picked in the portfolio of OP-America Small Cap.

The world's largest stock market is a vital element of each well-diversified portfolio. OP-America Small Cap is suitable for an investor who wants to be at the forefront to benefit from the most interesting new companies' growth potential and who is not afraid of high price movements from time to time. This fund is recommended to an investor who intends to redeem his/her units after seven years at the earliest.

Investment policy

OP America Small Cap (Fund) is an equity fund which mainly invests its assets in equities of listed SMEs in the U.S. equity markets.

The Fund mainly invests directly in equities. The Fund may use derivative instruments in order to hedge against adverse market movements, to replace direct investments and to otherwise promote effective portfolio management.

In normal conditions, the Fund maintains a diversified portfolio, investing in equities of about 100–150 companies but this number may vary depending on the investment manager's view.

The Fund's benchmark is the MSCI USA Small Cap Index. With active investing, the Fund seeks to outperform its benchmark index in the long term. The Fund mainly takes notable active risk and it may differ significantly from the composition, weights and risk level of the benchmark index.

The Fund uses a relative Value at Risk (VaR) analysis to monitor total risk. The Fund’s VaR may not be more than double the benchmark portfolio’s VaR. More information on VaR calculation can be found in OP Fund Management Company’s fund prospectus.

Any income received from the investments of the fund is reinvested in the fund.

Recommendation: This fund may not be appropriate for investors who plan to withdraw their money within 7 years.

Shares in the mutual fund can be purchased, sold or changed Each Banking Day. If the execution order is received by 16:00:00', the order is executed to the value of the order date.

Responsibility of the fund

The Fund promotes environmental and social characteristics and, to ensure it, uses environmental, social and governance (ESG) analysis and excludes certain investments.

Exclusion: The Fund excludes from its active direct investments controversial weapon manufacturers, mining companies producing thermal coal, power companies using thermal coal, tobacco companies, and companies that have breached international standards and where engagement has been unsuccessful. The list of exclusions is public. In addition to general exclusion rules, the Fund does not invest in companies whose principal business is in unconventional oil and gas extraction.

Use of ESG data in the investment analysis: ESG factors are considered in the investment process with the help of data by an external ESG service provider and the ESG tool developed internally by OP Asset Management. Considering ESG factors in the investment process means, for example, that the risks and opportunities related to the environment, society and governance are made transparent using selected indicators from each area.

Violations of international standards: The Fund is screened regularly for non-compliances with international standards. In the event that a non-compliance is detected, an influencing process is begun with the company in question. The aim is to make non-compliant companies change their practices and begin to comply with international standards in their operations. If influencing proves fruitless, the company may be removed from the Fund portfolio and placed on the exclusion list.

Minimum share of sustainable investments: In accordance with the minimum amount stated below, the Fund allocates investments into companies whose business promotes one or more UN Sustainable Development Goals (SDG) without harming other sustainability factors or objectives. Sustainable investments are determined using OP Asset Management’s analysis model which is based on an external service provider’s SDG and sustainability data.

Shareholders’ meetings: The Fund votes in shareholders’ meetings through a service provider in line with OP Fund Management Company Ltd’s shareholder engagement principles that take responsibility aspects into account.

Assessing good governance practices: Analysing the target company’s governance is an important part of the investment process. To us, good governance is a key foundation for any company’s financial success, regardless of sector. When assessing governance, some of the areas considered include the appropriateness of the target company’s administrative organisation, the target company’s actions in relation to its personnel, and the target company’s rewarding and taxation practices. In assessing good governance, we use an external service provider’s analysis and our own qualitative analysis if no external data is available. We screen the funds regularly to check them against the criteria of good governance. Minimum limits apply for these criteria.

Supplementary sustainability data

Portfolio manager's review

More details Basic data, performance and fact figures

Basic data

Fund manager: Ida Laitoniemi, Juha Asikainen
Benchmark index: MSCI USA Small Cap Net Return
Start date: 08.07.2013
ISIN: FI4000066642
fund serie: Accumulation unit
Fund size: 388 Meur
Serie value (13.03.): 266,75 EUR
Monthly review: Download
Key Information Document: Download
Rules: Download
Sustainability data: Download

Accumulated profit (13.03)

	1mth	3mth	6mth	1 y	3 y p.a.	5 y p.a.
OP-America Small Cap A	−17,64 %	−18,10 %	−4,93 %	−3,17 %	+6,04 %	+14,62 %
Benchmark	−15,76 %	−16,81 %	−4,13 %	−0,73 %	+3,46 %	+13,94 %

Yearly performance

	2020	2021	2022	2023	2024	YTD
OP-America Small Cap A	+3,55 %	+28,23 %	−9,63 %	+18,99 %	+21,19 %	−14,68 %
Benchmark	+8,55 %	+28,15 %	−12,15 %	+13,87 %	+19,02 %	−13,70 %

Key figures

	Volatility 12 m	vola 12m	Sharpe 12 m	Duration
OP-America Small Cap A	18,56 %	-	-
Benchmark index	-	-	-

Owner-customers’ saving and investing benefits

As our owner-customer, saving and investing is especially worthwhile thanks to the excellent benefits you receive.

Your benefits when investing in funds:

Buy and sell almost all OP mutual funds with no fees.*
You earn 0.35% OP bonuses from mutual fund and insurance assets.**

Your benefits when investing through insurance:

Begin saving through insurance free of charge.
You will earn 0.35% of OP bonuses from funds linked to insurance assets.***
Switch between investments, invest additional funds and change your payment and investment plan for OP Unit-linked Insurance and OP Capital Redemption Contract free of charge in our digital services.

**OP bonuses are used to pay the bank’s service charges and insurance premiums.

***You earn OP bonuses from unit-linked insurance policies, excluding individual unit-linked insurance policies and Individual Capital Redemption Contracts. The principles of contribution towards OP bonuses from funds linked to insurance assets will be harmonised with direct investments. As of 1 January 2025, the following funds linked to insurance assets will no longer contribute towards OP bonuses: third-party funds such as JP Morgan funds, structured loans and institutional class funds such as OP-World III A.

Your benefits in equity and ETF investing:

Open an equity savings account or book-entry account free of charge.
You get a discount on equity trading and a 1% fee ceiling when trading in Finnish listed companies through a book-entry account The discounts apply in digital services.
Get access to free stock picks and analysis.
Get a discount on the service packages for savers and investors:
Equity savings account:
Saver: €0/month (normally €2.99/month)
Investor: €9.99/month (normally €14.99/month)
Book-entry account:
Saver: €0/month (normally €2.99/month)
Investor: €0/month (normally €5.39/month)

Other benefits:

Only owner-customers can invest in Profit Shares.

Remember to make use of all benefits:

Check the status of your owner-customer membership or become an owner-customer

*Standard fees are charged for the following special common funds: OP-Public Services Real Estate, OP-Forest Owner, OP-Rental Yield, OP-Alternative Portfolio and OP-Private Equity.

The fund's other unit classes

Income unit generating annual cash flow, suitable for foundations

Fondserien III A där minimiteckningsbeloppet är 1 000 000 e

Fondserien IV A där minimiteckningsbeloppet är 10 000 000 e

This is an advertisement. The funds are managed by OP Fund Management Company Ltd. The portfolio manager is the portfolio management company specified in the fund prospectus for OP funds. Investments always involve risks. The value of investments can rise and fall, and the investor may lose part of or all the invested funds. Past performance is no guarantee of potential future yield. The larger the fund’s expenses, the greater the impact on the expected return on the investment. Any yield also depends on taxation, which in turn varies depending on the investor’s personal circumstances and is subject to future changes. If the fund is marketed outside Finland, OP Fund Management Company Ltd may decide to end such marketing. The information presented on this page does not fully describe all the fund’s characteristics.

Before making an investment decision, take all the characteristics or objectives of the fund into consideration, as described in the fund prospectus for OP funds and other documents related to the fund. Only make your final investment decision after reading the fund prospectus for OP funds and the key investor information document and rules of the fund. These documents can be found on the web page of the respective fund. The fund prospectus and the summary of investors’ rights in mutual funds are available at op.fi in Finnish, Swedish and English.