If your clients are invested in the Fund, they need to complete the Form of Direction and send it back to us as soon as possible at: Threadneedle Investment Services Limited, Client Services, PO Box 10033, Chelmsford, CM99 2AL, United Kingdom.
The Fund has fallen to a size, £13.3 million^, which makes it economically unviable to manage and following a review we identified that it is unlikely to attract new investors in the future. We therefore believe the closure of the Fund is in the best interests of investors.
Dealing in the Fund will be suspended from 12 noon on 27 February 2017, and the termination process will begin on 28 February 2017 (the “Effective Date”).
Your clients can choose to:
- Switch their investment free of charge into another Threadneedle fund(s) up until 12 noon on 27 February 2017. Details of our funds can be found on our website www.columbiathreadneedle.com.
- Sell their investment before the Fund is suspended.
- Take no action and your clients’ shares will be redeemed and the proceeds sent to them.
If your clients want to keep their investment in an ISA, they have the following options:
- Switch their investment(s) free of charge into another Threadneedle fund(s) before 12 noon on 27 February 2017.
- Transfer their ISA investment(s) to another ISA manager.
If your clients choose to sell their investment or do not take any action, their investment will be cashed in when the Fund is closed, and it will lose its ISA status.
There may be tax implications depending on your individual circumstances and which option you choose. We are unable to provide tax advice and we therefore suggest that you seek advice from your tax adviser about any potential tax implications before you take any action.
On the Effective Date we will begin the termination process which we expect to take approximately one month. Once completed, if you have left your investment to be cashed in, the proceeds of your investment will be sent to the registered shareholder at the address we have on our records.
Please complete and return your Form of Direction by 12 noon on 27 February 2017 to let us know what action you would like to take.
If you have any further questions, please call us on 0800 953 0134*. Our team is available from 8:00 am to 6:00 pm, Monday to Friday.
*Calls may be recorded