Major Norwegian Fund Manager Merges Funds

Sandra Kilhof

14 February 2014

One of Norway’s biggest firms, ODIN Fund Management, is planning to merge its ODIN Europa SMB with its ODIN Europa fund.

In a statement, the firm said that all unit holders have received information on the planned merger, which will be dealt with at a special meeting of unit holders on 5 March 2014. The planned date for the merger is 24 March 2014.

The firm said “that it is in everyone's interest to merge these funds as it will allow a more focused asset management process,” by giving the portfolio manager “a maximum degree of freedom to compose a concentrated and balanced portfolio”.

ODIN Europa SMB and ODIN Europa are currently managed by portfolio managers Alexandra Morris and Håvard Opland. Following the merger, both will be free to choose holdings in the portfolio regardless of market capitalisation, ensuring a portfolio of both large and small companies.

In addition, the firm said that the merger “will be an important step further in ODIN's general strategy to concentrate our portfolios to raise the overall quality of the investment decisions we make”.

As at end December 2013, ODIN Forvaltning, the parent company of ODIN Fund management, had over $1 billion in assets under management.