ODIN Forvaltning is set to implement two significant changes in its funds effective August 15, 2024. These changes include a shift in the pricing time for ODIN’s equity funds and the introduction of swing pricing.

Change in pricing time
Starting August 15, 2024, ODIN Forvaltning will adopt end-of-day pricing for all its equity funds. This adjustment entails that the funds will be priced at the closing price of the securities in which the funds are invested. Currently, the funds are priced at spot prices as of 16:30.

Practically, this modification means that the prices for the equity funds will be published as follows:

• For the funds ODIN Eiendom, ODIN Norden, ODIN Norge, ODIN Small Cap, ODIN Sverige, and SpareBank 1 Norge Verdi, prices will generally be published by 19:00 on the same day.
• For the funds ODIN Bærekraft (Sustainable Equities), ODIN Emerging Markets, ODIN Global, ODIN USA, ODIN Aksje, SpareBank 1 Utbytte, SpareBank 1 Verden Verdi, and SpareBank 1 Alt-i-ett 100, prices will typically be published by 10:00 the following morning.

There will be no change in the funds’ cut-off time for trading, which remains at 12:00 CET.

Introduction of Swing pricing
From August 15, 2024, ODIN Forvaltning will also introduce swing pricing for several of our funds. The amendment to the articles of association has been approved by the Norwegian Financial Supervisory Authority and the Swedish Financial Supervisory Authority.

The introduction of swing pricing applies to the following funds:

ODIN Norge, ODIN Sverige, ODIN Norden, ODIN Small Cap, ODIN USA, ODIN Emerging Markets, ODIN Bærekraft (Sustainable Equities), ODIN Global, ODIN Eiendom (Fastighet), ODIN Kreditt, ODIN Europeisk Obligasjon, ODIN Norsk Obligasjon, ODIN Likviditet and ODIN Sustainable Corporate Bond.

Swing pricing allows for the fund’s price to be adjusted upwards or downwards in response to substantial subscriptions or redemptions. The primary objective of swing pricing is to safeguard the interests of the fund’s unit holders by allocating the costs arising from significant transactions to the investors responsible for these transactions.

Swing pricing will be implemented if the net subscription or redemption surpasses a predetermined threshold value. This threshold is established based on an assessment of when the fund is likely to incur significant trading costs due to net customer flows necessitating extensive trades in securities.

Simultaneosly with the introduction of swing pricing, the right to charge subscription and redemption fees is also removed. Although several funds have retained this right until now, it has not been exercised in practice.

A comprehensive list of all share classes affected by these changes can be found in the attached document.