A fund with better return potential without any major risks

  • Investing in mutual funds pays off

    OP-Moderate offers a convenient solution for an investor who is interested in returns but not in following the stock market closely.

  • Well-balanced fund

    A balanced asset mix with stocks increasing the growth potential and fixed-income instruments offering protection.

  • Take advantage of owner-customer benefits

    As our owner-customer, you can buy, sell and switch OP-Moderate fund units at no charge.  

Investing is easy – our portfolio manager does it for you

OP-Moderate is one of the three fund alternatives OP suggests for passive investors. As typical for balanced funds, OP-Moderate comprises both stocks generating returns during an upswing and fixed-income investments providing protection during a downswing. A portfolio management professional changes the fund's equity weighting for the fund investor. The investments are diversified broadly geographically as well as across advanced and emerging markets.

OP-Moderate offers the benefits of wide diversification also for a retail investor.

A fund for those who seek a moderate return

OP-Moderate suits investors seeking reasonable capital appreciation who can tolerate a slightly higher risk level in exchange for higher returns. In the case of OP-Moderate, the risk level is between those of fixed-income investments and equity investments. OP-Moderate is best suited to a passive investor who intends to redeem his/her units after 3 to 4 years at the earliest. The fund is suitable, for example, for someone planning to buy a car or renovate their kitchen.

Subscription fee Annual management fee Redemption fee
0,00 % 1,25 % 0,50 %

No subscription fee will be charged for fund subscriptions. Fund units generate OP bonuses.

OP-Moderate Fund is a balanced fund investing its assets in the global fixed-income and equity markets. In the base scenario, the fund invests 50% of its assets in the fixed-income markets and 50% in the equity markets. The proportion of fixed-income investments may range between 30–70 % and equity investments between 30–70 %.

The fund’s investments are primarily made through other 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.

Stock investments are diversified globally as well as across advanced and emerging markets. The focus of fixed-income investments is on fixed-income instruments issued by public-sector entities and companies with a good credit rating. To a limited extent, the fund may also invest its assets in fixed-income instruments issued by issuers with a lower credit rating or by non-rated issuers.


Read the portfolio manager's review on the fund's Finnish pages.

Read more about fund’s responsibility on the fund’s Finnish pages.

More details Basic data, performance and fact figures

Basic data

Fund manager
Harri Kojonen
Benchmark index
Composite benchmark, see the fund Prospectus for details.
Start date
fund serie
Accumulation unit
Fund size
2186 Meur
Serie value (26.01.)
141,93 EUR
Monthly review
Key Information Document

Accumulated profit (26.01)

1mth 3mth 6mth 1 y 3 y p.a. 5 y p.a.
OP-Moderate A +2,97 % +3,50 % −1,09 % −5,87 % +0,48 % +1,47 %
Benchmark - - - - - -

Yearly performance

2018 2019 2020 2021 2022 YTD
OP-Moderate A −7,41 % +14,44 % +3,27 % +10,85 % −12,84 % +3,52 %
Benchmark - - - - - -

Key figures

Volatility 12 m vola 12m Sharpe 12 m Duration
OP-Moderate A 8,99 % -0,93 -
Benchmark index - - -

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 nearly all of our funds without costs and earn OP bonuses by investing in mutual funds.*
  • Benefits from equity trading: 
    • A 1% brokerage fee cap on Finnish and Swedish shares and securities – shares, warrants and ETFs.
    • Brokerage fee 0.05–0.17, i.e. the more you trade, the lower your trading costs. The benefits mentioned above are available on OP-mobile, OP Business mobile and at op.fi (in Finnish for personal customers).
  • 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.**

*No OP bonuses will accrue from the R2 Crystal Fund nor from institutional series of funds.

OP bonuses

In addition to OP bonuses earned through saving and investment, owner-customer earn bonuses from

  • loans
  • funds in accounts
  • 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 Duo cards

OP bonuses are used for the bank’s service charges and insurance premiums.

**The following investment products linked to the insurance assets do not bring OP bonuses from 1 April 2022: OP-Venäjä A, JPM Russia A, JPM Emerging Europe Equity Fund and BlackRock GF Emerging Europe Fund A.

Remember that investment always involves risks. The value of investments can rise and fall, and an investor can lose part or all of the money they invest. OP funds are managed by OP Fund Management Company Ltd, with OP cooperative bank acting as its agent. Normal transaction costs are charged for the following special common funds: OP-Public Services Real Estate, OP-Forest Owner, OP-Rental Yield and OP-Alternative Portfolio special common funds.