OP-Bond Yield
Invest in government bonds in the euro areaFonden OP-Obligation Avkastning placerar på euroområdets statslånemarknad alltså i de till den monetära unionen hörande ländernas obligationslån i euro. Bland fondens placeringsobjekt accentueras typiskt euroområdets största ekonomier, som har emitterat mest statslån, alltså Frankrike, Italien, Tyskland och Spanien.
| Subscription fee | Annual management fee | Redemption fee |
|---|---|---|
| 0,00 % | 0,55 % | 0,25 % |
No subscription fee will be charged for fund subscriptions. Fund units generate OP bonuses.
Government bond markets in the euro area are a diverse investment as the monetary union includes countries with both strong and weaker debt resilience. The fund's investments generally have a fixed interest rate and a long maturity which means that changes in market rates strongly impact the fund's performance. The investments also involve credit risk, this is offset by a higher current yield from bonds issued by countries with poorer debt resilience. The development return spread in government bonds is affected by the economic performance of the euro countries, by political themes related to the unity of the EU and the EMU, and by monetary policy in the euro area.
The OP-Bond Yield fund allows for diversification of an investment portfolio with interest rate risk while remaining in the familiar euro area.
OP-Bond Yield (Fund) is a long-term bond fund that mainly invests in fixed-income instruments issued by euro area governments with a minimum credit rating of BBB- or comparable. These investments’ share of the Fund's value may vary between 75% and 100%. The Fund's investments are mainly direct fixed-income investments. 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. Derivative contracts used in portfolio management can include, for example, interest rate swaps or futures whose underlying instruments are government bonds. The Fund hedges its non-euro investments against currency risks as fully as possible.
The modified duration of the Fund, a measure of the price sensitivity of a fixed-income investment to interest rate movements, is typically 6–10, which means that the Fund value will decrease by 6–10 percent if interest rates increase by one percentage point. If interest rates fall, the Fund’s value increases correspondingly.
The Fund's portfolio management makes investment decisions on the basis of the prevailing market view at the time. The Fund's investment decisions specifically highlight controlling the Fund's interest rate risk and interest rate risk distribution and weights between various countries.
The Fund’s benchmark index is Barclays EuroAgg Treasury Total Return Index Value Unhedged EUR. 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 promotes environmental and social characteristics and, to ensure it, uses environmental, social and governance (ESG) analysis and excludes certain investments.
Negative screening: the Fund excludes countries with significant adverse impacts on society from its investments. The Fund does not invest in excluded countries, and if an investment product of the Fund later falls within the scope of the exclusion, the aim is to terminate the investment within a reasonable time period.
Use of ESG data in the analysis of investments: The average values of the sustainability indicators of the Fund’s investments are regularly monitored. The values of the indicators are considered when making investment decisions, and the average values of the portfolio and their development in relation to the benchmark index are monitored.
The investment process of the Fund includes analysing the creditworthiness of the investment products. In analysing creditworthiness, environmental and social characteristics as well as good governance are considered, among other factors.
Basic data
- Fund manager
- Lauri Laaksonen
- Benchmark index
- Barclays EuroAgg Treasury Total Return Index Value Unhedged EUR
- Start date
- 01.12.2010
- ISIN
- FI4000019088
- fund serie
- Accumulation unit
- Fund size
- 665 Meur
- Serie value (20.11.)
- 122,52 EUR
- Monthly review
- Download
- Key Information Document
- Download
- Rules
- Download
- Sustainability data
- Download
Accumulated profit (19.11)
| 1mth | 3mth | 6mth | 1 y | 3 y p.a. | 5 y p.a. | |
|---|---|---|---|---|---|---|
| OP-Bond Yield A | −0,74 % | +0,64 % | +2,83 % | +6,02 % | −4,41 % | −2,35 % |
| Benchmark | −0,51 % | +1,03 % | +3,19 % | +6,43 % | −4,40 % | −2,24 % |
Yearly performance
| 2019 | 2020 | 2021 | 2022 | 2023 | YTD | |
|---|---|---|---|---|---|---|
| OP-Bond Yield A | +6,27 % | +4,60 % | −3,48 % | −18,32 % | +7,41 % | +1,06 % |
| Benchmark | +6,77 % | +4,99 % | −3,46 % | −18,46 % | +7,13 % | +1,56 % |
Key figures
| Volatility 12 m | vola 12m | Sharpe 12 m | Duration | |
|---|---|---|---|---|
| OP-Bond Yield A | 5,32 % | - | - | |
| 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
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.