On 22 September 2022, the Board of Directors of OP Fund Management Company Ltd decided to merge the OP-Finland Micro Cap special common fund and OP-Nordic Micro Cap special common fund with the OP-Finland Small Cap special common fund. On 7 October 2022, the Finnish Financial Supervisory Authority approved the merger, which will be implemented on 30 November 2022.
The merger will not require any action on the part of unitholders: the intention is to reduce the number of funds that are highly similar to one another. With the mergers, we will eliminate overlaps between our funds and provide the unitholders of the merging funds with investment instruments that we regard as having potential for better returns in the long term.
Through the merger, we will transfer the assets of OP-Finland Micro Cap and OP-Nordic Micro Cap to OP-Finland Small Cap by cashing them in, or transferring the merging funds’ financial instruments to the acquiring fund. The unitholders of the merging funds will receive holdings in the acquiring fund in proportion to their holdings in the merging funds.
Unitholders of the merging funds have the right to redeem their units, free of fee payments, from 1 October 2022 to 29 November 2022, and unitholders of the acquiring fund can do so from 1 November to 29 November 2022. They have also been sent a letter – or a message via the op.fi service or OP-mobile – on the matter.