OP-BraveAn active portfolio manager making brave, not foolhardy investments
Better return through investing in the fund
Offering a solution for long-term savings, OP-Brave is suitable for an investor who seeks high yields but is not afraid of temporary value fluctuations.
A fund for investment with a long-term horizon
OP-Brave is suitable, for example, for saving money for retirement or bigger purchases.
Take advantage of owner-customer benefits
As our owner-customer, you can buy, sell and switch OP-Brave fund units at no charge.
A fund for stock investors
Most of the assets of OP-Brave are invested in the stock market, while a smaller portion goes to the bond market. This pushes the fund's risk level lower than for an equity fund. The comprehensive diversification, both geographically as well as into bond and stock markets, make OP-Brave an attractive alternative for those who do not want to actively monitor movements in the capital markets. When putting your money into OP-Brave, you can trust that professional portfolio managers follow constantly the markets and take the necessary measures, letting you focus on other things.
A fund for profit-seeking and patient investors
OP-Brave has high expected yield because it has higher equity weighting than the rest of our Saver's funds. This brings about higher exposure to market fluctuations than for funds emphasising fixed income. When investing in OP-Brave, you need to be ready to tolerate moments when the value of your fund units is going down. What you need to understand is that, in long-term investment, the time to cash in your fund units will come at another, more favourable moment. OP-Brave is best suited to a passive investor who intends to redeem his/her units after six years at the earliest. For short-term investing, we recommend funds with a more stable performance.
|Subscription fee||Annual management fee||Redemption fee|
|0,00 %||1,45 %||0,50 %|
No subscription fee will be charged for fund subscriptions. Fund units generate OP bonuses.
OP-Brave is a balanced fund investing its assets primarily in the global equity markets and partly in the global fixed-income markets.
In the base scenario, the fund invests 80% of its assets in equity markets and 20% in the fixed-income markets. The proportion of equity investments may range between 70–100% and fixedincome investments between 0–30%.
The fund's investments are primarily made through other investment funds. The fund may use derivatives instruments in its investment activities to hedge against market fluctuations, to replace direct investments and to otherwise promote efficient portfolio management. Primarily derivatives are used in equity and interest-rate risk management.
The Fund diversifies its investments on a broad basis among various companies and bonds, since the investments are mainly implemented using funds.
The Fund’s benchmark index is a combination of several indexes. The composition of the benchmark index is described in the fund prospectus. 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’s equity weighting is actively adjusted to control equity market risk and to capture yield opportunities. Derivative instruments can also be used especially to control equity risk and interest rate risk.
The risk appetite remained positive also in November since it looks like the accommodative monetary policy will continue. Global economic growth seems to have stabilised, too, after the summer's weakness. European economic figures indicate that growth is still on a moderately improving trajectory. In China, growth is mixed as consumers are doing well while manufacturing is still trapped between high overcapacity and poor demand. In Japan, the situation is very much the same. Although the US Federal Reserve has expressed a stronger desire to raise its interest rate for the first time since 2006, the cycle for tightening the monetary policy is believed to be moderate. At the same time, the ECB has strongly indicated its intent to increase stimulus, possibly by pushing its deposit rate even deeper into negative territory and by extending its current public sector purchase programme. Expectations are sky high and measures should be taken right away at the early December meeting in order to avoid a setback to sentiment. The capital market has warmly welcomed the ECB's message.
We went overweight equities after the correction in the stock market took place in late August. In early October and in November, we increased the overweight position further. In equities, we focus on Europe and Japan. In Japan we rely on upcoming additional stimulus, rising interest in Japanese stocks and corporate earnings growth potential. In Europe, we seek diversification and also have heightened emphasis on OP-Property, since low interest rates support the property sector. We also have a significant weight in OP-Europe Dividend Companies. New remarkable focus is set on OP-Europe Rising Stars, a fund investing in small and mid-cap companies. Tapping into the weak market, we raised our low weight in emerging markets. In global themes, we have chosen to focus on OP-Low-carbon World, a fund investing in lower carbon footprint companies building a responsible future. In fixed-income investments, we prefer corporate bonds over government bonds. In corporate bonds with high credit ratings, our focus on OP-US Corporate Bond has outperformed European corporate bonds in terms of running yield. In the portfolio, we have applied our view of strengthening dollar and weakening euro.
- Fund manager
- Harri Kojonen, Patrik Moring
- Benchmark index
- Composite benchmark, see the fund Prospectus for details.
- Start date
- fund serie
- Accumulation unit
- Fund size
- 543 Meur
- Serie value (21.01.)
- 109,52 EUR
- Monthly review
Accumulated profit (21.01)
|1mth||3mth||6mth||1 y||3 y p.a.||5 y p.a.|
|OP-Brave A||+4,87 %||+10,29 %||+11,65 %||+4,61 %||+4,37 %||+7,03 %|
|OP-Brave A||+4,15 %||+5,11 %||−9,04 %||+20,14 %||+3,67 %||+3,21 %|
|Volatility 12 m||vola 12m||Sharpe 12 m||Duration|
|OP-Brave A||20,72 %||0,25||-|
Owner-customer benefits as of 1 January 2021
- Book-entry account and custody €0: Custody of Finnish and foreign shares and ETFs without monthly charges.
- Buy and sell fund units €0: Buy, sell and switch funds without costs and earn OP bonuses by investing in mutual funds.*
- Discount on share trading: Brokerage fee 0.17% (at least €7), maximum trading fee for Finnish shares and ETF products 1% until August 2021.
- New benefit: Equity analyses €0: Free equity and market analysis.
- Benefits of saving through insurance
- Take out an insurance policy, switch between investment instruments and transfer funds free of charge. Earn OP bonuses from unit-linked insurance assets.
In addition to OP bonuses earned through saving and investment, owner-customer earn bonuses from
- funds in accounts
- purchases you have paid with the OP-Visa credit
- insurance premiums for home, family and motor vehicle policies.
From 1 November 2020, OP bonuses will accrue from:
- home loans, secured bank loans, student loans
- savings and investment accounts
- mutual fund units and unit-linked insurance
- non-life insurance bills
The change on 1 November 2020 means that no OP bonuses will accrue from:
- deposits in current accounts
- unsecured consumer loans (Flexible Consumer Credit, Special Consumer Credit, One-off Credit and Overdraft Facility)
- OP hire purchase
- Purchases paid using OP Visa as a credit card, the balance of credit with interest of OP-Visa and OP-Mastercard cards
OP bonuses are used for the bank’s service charges and insurance premiums.
OP Fund Management Company Ltd manages OP mutual funds.