An order to redeem fund units is placed by fax or sent by mail. The execution of the order is conditional upon the unit holder stating VPS account number in connenction with placing the order. The cut-off time for ODIN Maritim, ODIN Offshore, ODIN Global and ODIN Global SMB is set to 3.00 p.m. (GMT+1) the day prior to the unit value calculation. For ODIN’s other funds the cut-off time is set to 12.00 (noon) (GMT+1) in order to receive the next unit value calculation (normally the same day).
The fee for redemption is 0.5 %. It is important that the unit holder states the VPS account number in connenction with a redemption order. ODIN normally pays the amount for the redeemed units into the bank account notified to it on the third banking day after the date when the unit price has been calculated. Payment for redeemed units is made in NOK. This amount may be converted into another currency in the receiving bank at the unit holder’s expense and exchange rate risk.
A redemption order cannot be made conditional or retracted.
An order to transfer units between ODIN’s funds is placed by fax or sent by mail. The execution of the order is conditional upon the unit holder stating VPS account number in connenction with placing the order. The cut-off time for ODIN Maritim, ODIN Offshore, ODIN Global and ODIN Global SMB is set to 3.00 p.m. (GMT+1) the day prior to the unit value calculation. For ODIN’s other funds the cut-off time is set to 12.00 (noon) (GMT+1) in order to receive the next unit value calculation (normally the same day). The subscription of units in the fund to which the units are transferred is made on the following trading day.
Transfer between the same type of fund does not entail any redemption or subscription fee. However please be advised that due to the delay in settlement date, the unit holder is subject to an exchange rate risk. Redemption in connection with a transfer is regarded as a sale for tax purposes.
A transfer order cannot be made conditional or retracted.
