We have decided to close the following funds on 22 March 2018:
- Threadneedle Navigator Growth Trust
- Threadneedle Navigator Income Trust
- Threadneedle Navigator UK Index Tracker Trust
The Threadneedle Navigator Growth Trust and the Threadneedle Navigator Income Trust have fallen in size to a level which makes them economically unviable to run and we have identified that they are unlikely to attract new investors in the future. We are also aware of further planned redemptions from the Navigator Income Trust which would reduce its size further.
The Threadneedle Navigator UK Index Tracker Trust is an index tracking fund and there are no plans to develop our range of index tracking products.
We have considered alternatives to closing the Funds, but do not believe that alternative options are appropriate or in the best interests of investors.
Dealing in the Funds will be suspended from 12 noon on 21 March 2018, and the termination process will begin on 22 March 2018.
Ahead of the closures, your clients have the following options:
- You can switch your investment free of charge into another Threadneedle fund(s) up until 12 noon on 21 March 2018. Details of our funds can be found on the website: www.columbiathreadneedle.com. Before you switch funds, it is important that you read the Key Investor Information Document (KIID) for the fund(s) you wish to switch to. To switch to another Threadneedle fund(s), please complete and return the Form of Direction in the enclosed pre-paid envelope by 12 noon on 21 March 2018.
- You can sell your investment before the Funds are suspended. To sell your units, please complete and return the Form(s) of Direction in the enclosed pre-paid envelope by 12 noon on 21 March 2018.
- You can take no action and your units will be redeemed and the proceeds sent to you.
Please note, we must receive your Form of Direction to switch before 12 noon on 21 March 2018 in order to switch your units before the Funds are suspended. Instructions to switch on completion of the termination process will not be accepted after 12 noon on 21 March 2018 and we will redeem your holdings and send the proceeds to you instead.
If you are unclear about which option to choose, please speak to a financial adviser. If we do not receive your Form(s) of Direction by 12 noon on 21 March 2018, we will cash in your investment on 22 March 2018 and send the proceeds to you as soon as possible after the end of the termination process (we expect this to take approximately one month).
Additional information for ISA investors
If you want to keep your investment in an ISA, you have the following options:
- Switch your investment free of charge into another Threadneedle fund(s) before 12 noon on 21 March 2018.
- Transfer your ISA investment to another ISA manager. To do so, you will need to complete an ISA transfer form and send it to your new ISA manager, who will then contact us to complete the transfer. Please note ISA transfers can take up to 30 days.
If you choose to sell your investment or do not take any action your investment will be cashed in when the Funds are closed, and your investment will lose its ISA status.
Please refer to the Q&A for any questions you may have regarding the proposal.
|FURTHER INFORMATION |
If you are unsure about the implications for your investment and the action you should take, please contact your financial adviser. If you do not have a financial adviser, you can find one in your area by visiting www.unbiased.co.uk – please note that we do not endorse this site or the advisers found on it.
If you are unclear about any of the details relating to this proposal, or have any further questions, please call us on 0800 953 0134*. Our team is available from 8.00am to 6.00pm UK time, Monday to Friday.