Corporate Actions

A corporate action may affect any investment held through the Novia Global Wealth Management Service. This could involve a significant change to an investment including, amongst others:

  • A change of name, investment objective or policy.
  • A change to the level or nature of charges that apply to your investment.
  • Your investment closes, merges into another or becomes unavailable through the Service.
  • A change to the type, structure or regulation of your investment.

You may be unable to buy or sell investments via the service during the time in which we process corporate actions. This will include, amongst others, name changes, mergers or closures. It will typically not be possible to carry out transactions on investments about to undergo a corporate action for up to 20 business days prior to the effective date of the action.

Below you can find details of the investment affected, the corporate action that is going to happen and the date on which the change will become effective. You should check this page regularly to keep up to date with corporate actions and any impact they may have.

Property funds

Further to the recent announcement on 9th September from a number of independent property valuing bodies’ , their opinion is there is now sufficient evidence to be able to accurately value properties without the previous uncertainty they believed existed. However, the majority of fund groups have since confirmed that they will still retain the trading exclusion on their UK property funds until further notice.  On platform this includes Aviva, BMO, Kames and Janus Henderson.  As and when these suspensions are lifted and we are notified by the relevant fund groups, we will update accordingly.

Aberdeen have lifted the suspension of trading on their property funds. 

Cash

In these times of uncertainty and volatility, there is often a flight to cash and deposit holdings. With governments across the globe using interest rates as part of their economic response, we suggest you regularly review which currency holdings are most appropriate for any client and how long they hold them for. With interest rates at low levels (some negative) charges will only reduce returns further. Therefore, clients need your advice to help them understanding the real risks they face more than ever. You can find information on current interest rates here.

 

Effective Date Investment Affected Corporate Action
18/03/2020 UK Property Funds We have received notification that Kames, BMO (F&C), Aviva, Aberdeen Standard & Henderson have closed their UK property funds from any further trading. Please contact the relevant fund manager for further information.
10/07/2020 Artemis Global Income Fund We have received notification of the proposed merger of the Artemis Global Equity Income Fund into the Artemis Global Income Fund with effect from 10/07/2020. Please contact Artemis for further information.
01/07/2020 Janus Henderson Horizon Fund We have received notification that Janus Henderson will be making a number of changes to the Janus Henderson Fund with effect from 01/07/2020. Please contact Janus Henderson for further information.
07/07/2020 Standard Life Investments and Aberdeen Standard Global SICAV I We have received notification from the fund manager that a number of proposed changes of the Global SICAV fund plan to take effect from 07/07/2020. Please contact Aberdeen Standard for further information.
24/06/2020 Sarasin IE Sustainable Global Real Estate Equity (USD) We have received notification of the proposed merger of the Sarasin IE Sustainable Global Real Estate Equity (USD) Fund into the Sarasin IE Sustainable Global Real Estate Equity Fund with effect from 24/06/2020. Please contact Sarasin for further information.
02/06/2020 Investec Global Strategy Fund We have received notification of the change of name of the Investec Global Strategy Fund to the Ninety One Global Strategy Fund with effect from 02/06/2020. Please contact Ninety One for further information.
06/07/2020 CFP SDL UK Buffettology & CFP SDL Free Spirit We have received notification from Castlefield Funds of an arrangement affecting the CFP SDL UK Buffettology & CFP SDL Free Spirit sub-funds. Please contact Castlefield for further information.
09/11/2020 Heartwood Wealth Management With effect from November 9th 2020 Heartwood Wealth Management are changing their company name to Handelsbanken. The Heartwood fund names will change accordingly - further information on all of the changes are available to view on their website. Please contact Heartwood for further information.
27/11/2020 Link Fund Solutions Ltd With effect from November 27th the authorised corporate director of Link Fund Solutions Limited is to change to Premier Portfolio Managers Limited. Subject to legal transfer, the company will be operated by Premier Miton. Please contact Link fund Solution for further information.
14/10/2020 Natixis

H2) AM LLP has decided to split the H2O multibonds Fund into:

- one identical fund called H2) Multibonds FCP

- one fund called H2O Multibonds SP

Please contact Natixis for further information.

15/12/2020 M&G Securities Limited

We have received notification that M&G Securities Limited have announced that most non-sterling share classes of its OEIC fund range will close on December 15th 2020. This includes M&G Corporate Bond Fund, M&G European Index Tracker Fund, M&G Global Government Bond Fund as a number of others. Please contact M&G for a full list of the affected funds.

01/11/2020 Architas Funds

We have received notification that the Architas fund range will be changing name to Liontrust Multi-Asset Limited with effect from November 1st 2020. Please contact Architas for further information.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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