Through Rahastotori Oy as its distributor of ODIN’s funds, ODIN Fund Management has been present in the Finnish market for a substantial period of time. Through this acquisition ODIN increases its presence and takes a more active part in the Finnish market, particularly within the institutional market. The acquisition provides ODIN with an extended distribution capacity in the Nordic region and interesting opportunities for further building its brand name.

ODIN is strategically moving towards an increased presence in the European market, and the acquisition of Fondex Oy and Rahastotori Oy is a step in that direction.

ODIN was founded in 1990 and has ever since been investing successfully in Finnish stocks. ODIN was early in setting up the country specific fund ODIN Finland which has had a historical performance of 4,300 per cent since its introduction on 27 December 1990 (in Euro as of 31 July 2008).

Through the divestment of Fondex Oy, pension insurance company Veritas completes its structural changes which commenced with the divestment of their life insurance company to Aktia Sparbank Apb, and Caj-Anders Skog, former CEO and part-owner of Fondex Oy, takes a first step into the private equity business.

The new board of directors of Fondex Oy and Rahastotori Oy consists of Leif Ola Rød (CEO of ODIN Forvaltning AS, Norway), Mikael Wickbom (CEO of ODIN Fonder, Sweden) och Caj Anders Skog. New CEO of Fondex is Mikael Wickbom whilst Sam Olin continues as CEO of Rahastotori.

Contact: Mikael Wickbom CEO ODIN Fonder,
subsidairy of ODIN Forvaltning AS, Norway.
Tfn: +46 8 407 14 12, mikael.wickbom@odinfond.no.