OP-Yield Fund
OP-Yield is a short-term bond fund that invests the majority of its assets in European bond instruments with a high rating grade. The fund is a good choice for investors who seek to outperform bank deposits with moderate risk. It is also suitable for businesses as a cash management tool and a short-term investment for cash funds.
OP-Yield focuses especially on bonds issued by European banks and other businesses with a high rating grade. In addition, the fund makes limited investments in high-yield bonds. As a unitholder, you benefit from the expertise and extensive data resources of OP Asset Management's bond investment team. In addition to broad diversification, the fund's portfolio manager selects investments based on an attractive risk-return ratio and adequate liquidity.
The fund takes sustainability factors into consideration. Industries that are harmful to the environment and society, such as thermal coal and controversial weapons, are excluded from investments. The fund's investments are also screened regularly to ensure compliance with good governance, such as international norms related to anti-corruption.
Why invest in the OP-Yield fund
- Moderate returns with low interest risk
- Effective cash management tool and for investing cash in the short term for companies
- As a unitholder, you benefit from the expertise of an experienced bond investment team
| Subscription fee | Annual management fee | Redemption fee |
|---|---|---|
| 0,0 % | 0,4 % | 0,0 % |
The fund units accrue OP bonuses for private customers who are owner-customers of an OP cooperative bank.
The short-term fixed-income fund's yield depends on changes in the interest rate level. OP-Yield is an enhanced fund investing mostly in fixed-income instruments issued in euros by banks, other companies, governments and other public-sector entities in Europe. Given that the fund's investments are diversified in fixed-income instruments issued by companies with relatively good credit ratings, OP-Yield is subject to both higher credit risk and yield potential compared to funds investing in typical short-term government bonds. The risk associated with individual issuers, however, is low thanks to extensive diversification.
OP-Yield offers a flexible alternative to twelve-month deposits and fixed-income investments. It is suitable for investors seeking higher capital appreciation than offered by deposits but who still want their assets to be rapidly available if necessary. The fund also serves companies which tolerate temporary value changes in exchange of above market rate yield. As an element of a diversified portfolio, a short-term fixed-income fund like OP-Yield can be used for modifying the size of equity weight.
OP-Yield Fund is an enhanced short-term fixed-income fund investing its assets primarily in euro-denominated fixed-income securities issued by European banks and other companies as well as European governments and other public sector entities. In the short term, the fund seeks capital preservation, and in the medium term, a return exceeding to the money market return.
The fund’s investments are primarily made through direct note and bond investments, but the fund may also use interest rate and credit risk derivatives to hedge against market fluctuations and to replace direct investments. The investment instruments used typically comprise floating rate bonds, commercial paper, debt certificates, short-term fixed interest notes and deposits. The fund’s assets are diversified in the fixed-income instruments of many issuers.
The modified duration of the fund, a measure of its interest rate sensitivity, is typically 0.4–0.8. This indicates the negative NAV impact on the fund in terms of percentages, if the interest rate level rises by one percentage point. As the level of interest rates decreases, the NAV of the fund increases accordingly.
The fund’s average remaining maturity, that is the period until the repayment of principal, may however be long mostly due to investments in floating-rate bonds. Therefore, changes in credit risk premia or insolvency of issuers may have a material impact on the NAV of the fund.
The fund’s investments are diversified primarily in fixed-income instruments of issuers with good creditworthiness. The fund may have a limited amount of investments in fixed-income instruments of issuers with a weak credit rating. Furthermore, the fund may invest in fixed-income instruments of non-rated issuers.
The Fund's benchmark index is 3 month Euribor. With active investing, the Fund seeks to outperform its benchmark index in the long term. The Fund’s active risk level is mainly low and differs only slightly from the composition, weights and risk level of the benchmark index.
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.
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 the analysis of third-party service providers 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.
The portfolio manager's review is available on the fund's Finnish pages.
Basic data
- Fund manager
- Tuula Vierimaa
- Benchmark index
- Euribor 3 months
- Start date
- 16.09.2002
- ISIN
- FI4000020375
- fund serie
- Accumulation unit
- Fund size
- 1260 Meur
- Serie value (04.04.)
- 136,44 EUR
- Monthly review
- Download
- Key Information Document
- Download
- Rules
- Download
- Sustainability data
- Download
Accumulated profit (04.04)
| 1mth | 3mth | 6mth | 1 y | 3 y p.a. | 5 y p.a. | |
|---|---|---|---|---|---|---|
| OP-Yield A | +0,03 % | +0,63 % | +1,55 % | +3,68 % | +2,41 % | +2,00 % |
| Benchmark | +0,25 % | +0,74 % | +1,63 % | +3,69 % | +2,53 % | +1,31 % |
Yearly performance
| 2020 | 2021 | 2022 | 2023 | 2024 | YTD | |
|---|---|---|---|---|---|---|
| OP-Yield A | +0,12 % | +0,07 % | −2,41 % | +3,95 % | +3,96 % | +0,64 % |
| Benchmark | −0,39 % | −0,55 % | −0,33 % | +3,04 % | +3,99 % | +0,76 % |
Key figures
| Volatility 12 m | vola 12m | Sharpe 12 m | Duration | |
|---|---|---|---|---|
| OP-Yield A | 0,35 % | - | - | |
| Benchmark index | - | - | - |
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:
*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.
Income unit generating annual cash flow, suitable for foundations
The fund’s unit class III A with a minimum subscription of 1 000,000 euros
The fund’s unit class III B with a minimum subscription of 1 000,000 euros
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.