OP opens the OP-Palvelukiinteistöt and OP-Vuokratuotto special investment funds for subscriptions and redemptions

OP Fund Company opens OP-Palvelukiinteistöt and OP-Vuokratuotto special investment funds again today, Tuesday, for subscriptions and redemptions, informs OP-Pohjola.

The funds suspended subscriptions and redemptions on December 31, 2024. The background was the exceptional situation of the real estate market.

OP is the first Finnish asset manager to open its real estate funds after their closure. Numerous real estate funds have closed their doors in the last couple of years because they have not been able to pay redemptions to their clients.

For example, Eq, Titanium and Ålandsbanken have said during January that their real estate funds will still remain intact.

“We have completed several real estate transactions in the second half of 2025. We see that the situation in the real estate market has now stabilized to the point that we can start fund subscriptions and redemptions in a way that is in the interest of the unit owners,” says OP Pohjola’s director of asset management Hanna Porkka in the bulletin.

According to Porka, the real estate market has been showing some light for a long time now.

“The starting points for the market’s recovery are good, although there is still uncertainty,” he says.

Pig according to the real estate market, transaction volumes doubled during 2025, which essentially eases the situation of real estate funds. If real estate needs to be sold, a buyer will be found, unlike in 2024.

OP’s Vuokratuotto fund sold several properties last year. For example, last summer the fund sold almost a thousand apartments to Sato. At the same time, the fund received money to pay the redemptions.

OP was paid the redemptions made to the funds in 2024 in July 2025. Since no new redemption requests have been made to the real estate funds for a year, OP currently has no redemption requests pending.

According to Porka, the OP has no information on how many redemptions there will be now that they are possible again. If the customer now makes a redemption request to OP’s real estate fund, the redemption will be paid one year from now, in January 2027. Entries in the funds are also possible again.

Carrot says that OP’s customers have taken the real estate funds’ problems calmly and at least not much feedback has come to his ears.

OP halved the management fees of real estate funds shortly after the suspension of redemptions. Now that the funds are opening again, the management fees will return to their previous levels.

The rental income fund has 34,000 unit owners and managed assets of over EUR 900 million. There are more than 12,000 unit owners in the Palvekinteistöt fund and more than EUR 300 million in assets.