Annual-/ and semi-annual reports
Read our annual and semi-annual reports to get to know Odin better. In the reports you will find the fund portfolios, fund comments written by our portfolio managers, the funds performance and key indicators for future performance.

Annual reports
Odins Mutual Funds 2023
The year 2023 was one of somewhat mixed results for ODIN’s equity funds. Our Swedish funds were slightly behind the indices, while ODIN Norden had a good year.
Odins Mutual Funds 2022
As we may remember, 2021 was a very good year for Odin’s equity funds. In many ways, 2022 was the exact opposite. There was a reduction in risk appetite, as well as substantial increases in interest rates.
Odins Equity Funds 2021
It is with great pride that we can say that all of Odin’s equity, interest and balanced funds outperformed their benchmarks in 2021. The funds’ long-term returns have also been good. Eight out of nine funds are outperforming their respective benchmarks from a three and five-year perspective (A unit classes). Overall, our equity funds provided a capital-weighted return of no less than 31.7 per cent.
Odins Equity Funds 2020
In what became a different kind of year, 2020, Odin took a diligent, structured approach to sustainability, as we have also done in recent years. Meanwhile, last year represented a further strengthening of this long-term, important work. As a result of our tireless focus on sustainability, we are proud to have finalised Odin’s sustainability strategy for the next few years
Odins Equity Funds 2019
Like 2018, year 2019 was a special year in a positive sense. Expansive central banks and a weaker macro resulted in one of the strongest stock exchange years in the last ten years. The lesson here is that the scepticism everyone felt a year ago turned into a major opportunity.
Odins Equity Funds 2018
In many ways 2018 been a special year for both stock and credit markets worldwide. Weaker macroeconomic development and trade wars have led to increasing fears that we are heading towards an economic downturn.
Odins Equity Funds 2017
The year 2017 was characterised by strong equity markets, and the political events we were worried about at the beginning of the year turned out to be almost non-events for the equity market in 2017. Odin has again created added-value for customers through excess returns measured against the index.eks.
Odins Equity Funds 2016
2016 is now history. However, it might be appropriate for some reflections. For many, the year will be remembered for UK`s decision to leave the European Union. Grassroot voters took a stand against the elite in Brussels. Others might look back and think of Marine Le Pen and her progress in the French polls
Odins Equity Funds 2015
At Odin, we believe it is best to stick to a classic, timeless style when it comes to how we invest the funds our clients have entrusted us with. We know that this means that in periods we will not be seen as the "cooolest", but we believe our strategy will yield good results in the long run and stand the test of time.
Odins Equity Funds 2014
Odin exists to serve our customers. That is our main priority. Our goal is to create good long-term returns with moderate risk. Reaching this goal is also essential to our ability to provide a good workplace for our employees and good results for our owners.
Semi-annual reports
Odins Mutual Funds 2024
The first six months of the year have been very good for the stock markets, surprisingly good in fact. If we wind the clock back six months, most people believed that the only thing that could save both the economy and the markets was significant interest rate cuts.
Odins Mutual Funds 2023
Our equity funds have delivered high returns over the past six months. The combination of a general stock market upturn with a weak Norwegian krone has been very favourable for our international funds.
Odins Mutual Funds 2022
The first half of 2022 will go down in history as one of the worst in many years. Almost all stock exchanges have fallen significantly since the new year. Almost everything that sent the stock market skywards in recent years has turned around in 2022.
Odins Equity Mutual Funds 2021
Sustainability is at the heart of Odin’s investment process. We are close to the management of the companies we own and engage in active dialogue to influence and put sustainability issues higher up on the agenda. During the first half-year we took various measures to further strengthen our sustainability work.
Odins Equity Mutual Funds 2020
Odin has performed well in the first half of 2020. We have gained market share, and most of our equity funds have delivered a return on par with or better than the index against which we measure our return.
Odins Equity Mutual Funds 2019
The first half of 2019 in the financial world was characterised by strong markets, geopolitical uncertainty, changing interest rate expectations and weaker macroeconomic figures.
Odins Equity Mutual Funds 2018
The first six months of 2018 have been characterised by nervous stock exchanges, and developments in our funds have been mixed.
Odins Equity Mutual Funds 2017
The first half of the year has seen a moderate positive stock market increase, and most markets can report a good return.
Odins Equity Mutual Funds 2016
The first two quarter of 2016 was characterized by great volatility in the stock market. The last major event that gave negative impact on the market was Brexit after the election on June 23.
Odins Equity Mutual Funds 2015
The first half of 2015 was a goodperiod for our customers and therefore it was a good period for ODIN as well. The unit holders in ODIN’s mutual fundshad an average return of 11.5 per cent (NOK) as per 30 June. For the money market and bond funds, the return for the period was 0.9 per cent.