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Subcategories from this category: Aberdeen Standard Investments
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Please click here for details of Liontrust change of administration.
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Royal London ICVC Fund Mergers 12/04/19 - Royal London Short Duration Credit Fund

Further to the recent shareholder communication regarding the fund merger concerning the Royal London Short Duration Credit Fund, please note that the merger was approved at the EGM held on 20th March 2019. Therefore merger will be effective 12th April 2019. Please take note of the following detail:

  • Client dealing in respect of the donor fund (subscriptions and redemptions) will be suspended after the 12 noon VP on 11/04/2019.
  • The cut off point for free switches into or out of the donor fund is 12 noon 11/04/19.
  • Valuations used for the purposes of the merger 12 noon 12/04/19
  • The new Host Fund is open for dealing at 9:00 a.m. on 15/04/19

Should you have any queries on this communication please contact the DST Distributor Client Services Team, our contact details can be found by clicking here.

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Royal London ICVC Fund Mergers 12/04/19 - Royal London Ethical Bond Fund

Further to the recent shareholder communication regarding the fund merger concerning the Royal London Ethical Bond Fund, please note that the merger was approved at the EGM held on 20th March 2019. Therefore merger will be effective 12th April 2019. Please take note of the following detail:

  • Client dealing in respect of the donor fund (subscriptions and redemptions) will be suspended after the 12 noon VP on 11/04/2019.
  • The cut off point for free switches into or out of the donor fund is 12 noon 11/04/19.
  • Valuations used for the purposes of the merger 12 noon 12/04/19
  • The new Host Fund is open for dealing at 9:00 a.m. on 15/04/19
 

Should you have any queries on this communication please contact the DST Distributor Client Services Team, our contact details can be found by clicking here.
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Jupiter has received FCA approval to close the Jupiter Strategic Reserve Fund.

Please find attached a copy of the circular which was posted to our clients and agents on the 21st March 2019, confirming our intention to close the Fund.

The closure date will be the 23rd May 2019.

If you have any queries regarding this notification please contact your Jupiter Sales representative or account manager.


Fund Name   

Sedol  

  ISIN  

   

STRATEGIC RESERVE (ACC)  

B7LFLB0  

GB00B7LFLB03  

   

STRATEGIC RESERVE (INC)  

B7PF6W2  

GB00B7PF6W28  

   

STRATEGIC RESERVE I CLASS (ACC)  

B7KKF58  

GB00B7KKF583  

   

STRATEGIC RESERVE I CLASS (INC)  

B7HJRT6  

GB00B7HJRT66  

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Further to the recent mailing to notify current Donor shareclass unitholders of the upcoming event, dealing in the donor shareclass will be suspended after the 12:00VP on 29/03/19. All shares in the donor class will be converted to the host share class as detailed in the below table using the 12:05 VP of 29/03/19.

Should you have any queries on this communication please contact the DST Distributor Client Services Team, our contact details can be found by clicking here.




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Further to the recent communication to investors confirming that the below shareclass will close as of 27/03/2019, the last day to accept subscriptions and top-ups is 13/03/2019, repurchases and switch or transfers out will be accepted up to 12:00 on 26/03/2019.

Remaining unitholders in the closing shareclass will be repurchased in the valuation point at 12:00 noon on 27/03/2019.

Fund Name

SEDOL

ISIN

ABERDEEN CAPITAL TRUST (INC)

426800

GB0004268008


Should you have any queries on this communication please contact the DST Distributor Client Services Team, our contact details can be found by clicking here.
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On 04/03/19, a notification letter was issued to the current unitholders of the shareclasses listed below to inform them that the fund will be closing on 08/04/19.

Dealing in the closing shareclasses will continue up to the Valuation point of 12pm on 05/04/19, after this time dealing will be suspended and the fund will be closed as described in the letter.

Man GLG Unconstrained Emerging Market Equity Fund Institutional Acc Shares (Class E)

Man GLG Unconstrained Emerging Market Equity Fund Professional Acc Shares (Class C)


Should you have any queries on this communication please contact the DST Distributor Client Services Team, our contact details can be found by clicking here.

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DST will be completing a system migration affecting accounts held under the T. Rowe Price OEIC fund range. As a result, the OEIC ACD will be changing to TRP UK on 11th March 2019. To coincide with the system migration, new account numbers will be generated for existing holdings for use on and after Monday 11 March 2019. To facilitate this update we will also be restricting STP trading in the afternoon of 8 March 2019.
 

Automated Dealing - EMX & Calastone:

After the 12:00 VP on 8 March 2019 we will be restricting trading through both EMX and Calastone. Any trading submitted after the above VP will be rejected until the funds are re-opened on 11 March 2019. Please ensure your trades are resubmitted using the new account numbers we will provide to you shortly.

As of Monday 11 March 2019, when trading on EMX you will need to use the new Product Number “000001” as the old Product Number “ProductTRP” will no longer be in use.

 

Automated Dealing – SWIFT:

Any SWIFT trades instructed after the 12:00 VP on 8 March 2019 will not be placed. Please ensure your trades are resubmitted on 11 March 2019 using the new account numbers we will provide to you shortly.

 

Manual Dealing - Telephone, Fax and Post:

Telephone deals instructed after the 12:00 VP on 8 March 2019 will not be placed and need to be reinstructed on Monday 11 March 2019.

 

Trades instructed via fax or post will be held and placed on Monday 11 March 2019. The PO Box address and fax number will be updated for all trades instructed on and after Monday 11 March 2019. The relevant pages on www.dstdistributorportal.com will be updated with any changes to the contact details.

 

Settlement: Trades placed up to and on Friday 8 March 2019 can continue to be settled to the current bank details you have on file. All trades placed on or after Monday 11th March 2019 (settling 14 March 2019 onwards) will need to be settled to the following bank details:   



 We have updated the bank details provided on https://www.dstdistributorportal.com/fund-groups/item/t-rowe-price in line with this change.

Please ensure you have made all relevant internal parties aware of these changes and updates are made in line with the dates above.

 

 

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Due to the merger activities of non-sterling share classes between M&G Securities Ltd and M&G International Investments SA, M&G have announced the dealing suspension of related Sterling share classes of the M&G Optimal Income Fund at 12:00pm noon on 07/03/2019 until 11/03/2019. The individual share classes and market identifiers are shown on the following pages.

Operational Details:

  • Deals received for these share classes during the suspension period will be queued and placed at the first valuation point following the unsuspension.
  • Stock transfer requests will continue to be accepted but will not be processed during the suspension period.
  • Other features of these share classes will continue to function including distribution accruals, rebate accruals and pricing.
  • The share classes will be priced and published as usual on 08/03/2019.
  • Prices will not be calculated on 11/03/2019 but published prices will be issued on this date which will be the same as the prices made on 08/03/2019.
  • Usual pricing will resume on 12/03/2019.
  • All sterling share classes of M&G’s other OEIC funds are not affected by these dealing suspensions and will operate as business as usual.
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Effective 1 March 2019 the following changes will be made to the Invesco Global Distribution Fund (UK):  

  • Fund name changes to Invesco Global Income Fund (UK)  
  • Flexibility to invest up to 60% in equities (currently 40% max)  
  • Distribution type changes from interest to dividend   
  • Investment Series name changes name from ‘Invesco Fixed Interest 2 Investment Series’ to ‘Invesco 3 Investment Series’ (this will also affect the Invesco Global Emerging Markets Bond Fund (UK) that resides within this Investment Series)  
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Please click here for further information on the Legg Mason change of administration.
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Please click here for further details of the notice.

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Please click here for further information on the Phoenix change of administration.
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With effect from February 2019, Artemis has now made the following changes to how its funds operate:  

   

-          the way in which fund charges are calculated,  has moved from variable expenses to an administration fee  

-          how the unit trust funds are priced,  has changed from 'bid price' and 'offer price' to a single 'mid price'  

There will be no change to the way in which funds' investments will be managed.      

The funds’ prospectuses have been updated as a result of the changes and you can see the updated prospectuses on our fund literature page.  A full list of share classes and the ISIN codes, can be seen in full at www.artemisfunds.com/fund-changes .  

If you have any questions about the changes or require any further information, please contact our Client Services team on 0800 092 2051 between 8.00am and 6.00pm (Monday to Friday).  

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Jupiter has received FCA approval to change the name and update the policy of Jupiter Monthly Income Fund. 

 

Please find attached here a copy of the circular which we have posted to our clients and agents on the 17th January 2019, confirming our intention to change the Fund.  

 

The change date will be the 19th March 2019. 

 
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Please click here for further details of the notice.

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  • CHANGES TO THE WAY SOME FUNDS ARE PRICED
  1. With effect from 21 January 2019, the following Dual Priced funds will become Single Priced:

Fund Name

ISIN

Pricing convention to 18 January 2019 (inclusive)

Pricing convention from 21 January 2019

Rathbone Ethical Bond Fund Income

GB0030957020

DUAL

SINGLE

Rathbone Ethical Bond Fund Accumulation

GB0030957137

DUAL

SINGLE

Rathbone Ethical Bond Fund Institutional Inc

GB00B7FQJT36

DUAL

SINGLE

Rathbone Ethical Bond Fund Institutional Acc

GB00B77DQT14

DUAL

SINGLE

Rathbone Global Opportunities Fund Accumulation

GB0030349095

DUAL

SINGLE

Rathbone Global Opportunities Fund Institutional Acc

GB00B7FQLN12

DUAL

SINGLE

Rathbone Income Fund Income

GB0001229045

DUAL

SINGLE

Rathbone Income Fund Accumulation

GB00B06ZVC73

DUAL

SINGLE

Rathbone Income Fund Institutional Inc

GB00B7FQLQ43

DUAL

SINGLE

Rathbone Income Fund Institutional Acc

GB00B3Q9WG18

DUAL

SINGLE

Rathbone UK Opportunities Fund Income

GB0005062293

DUAL

SINGLE

Rathbone UK Opportunities Fund Accumulation

GB0030430804

DUAL

SINGLE

Rathbone UK Opportunities Fund Institutional Inc

GB00B77H7W31

DUAL

SINGLE

Rathbone UK Opportunities Fund Institutional Acc

GB00B7FQM503

DUAL

SINGLE

Rathbone Spenser Fund

GB0032852575

DUAL

SINGLE

Rathbone Strategic Bond Fund Institutional Income

GB00B6ZS1L87

DUAL

SINGLE

Rathbone Strategic Bond Fund Institutional Accumulation

GB00B6ZS2486

DUAL

SINGLE

Rathbone Dragon Trust Income

GB0008467879

DUAL

SINGLE

Rathbone Dragon Trust Accumulation

GB0008467762

DUAL

SINGLE

Rathbone Heritage Fund I Income

GB00B6SCP824

DUAL

SINGLE

Rathbone Heritage Fund I Accumulation

GB00B8CJW049

DUAL

SINGLE

Rathbone Heritage Fund S Income

GB00B8W46V86

DUAL

SINGLE

Rathbone Heritage Fund S Accumulation

GB00B910LL90

DUAL

SINGLE

Rathbone Income Fund S Income

GB00BHCQNL68

DUAL

SINGLE

Rathbone Income Fund S Accumulation

GB00BHCQVM34

DUAL

SINGLE

Rathbone Active Income and Growth Fund Income

GB00B844SW18

DUAL

SINGLE

Rathbone Ethical Bond Fund X Acc

GB00BYXJDC49

DUAL

SINGLE

Rathbone Ethical Bond Fund X Inc

GB00BYXJDF79

DUAL

SINGLE

Core Investment Fund for Charities Income

GB00BZ02MC60

DUAL

SINGLE

Core Investment Fund for Charities Accumulation

GB00BZ02MF91

DUAL

SINGLE

Rathbone Income Fund X Inc

GB00BD8CP691

DUAL

SINGLE

Rathbone Income Fund X Acc

GB00BD8CP584

DUAL

SINGLE

Rathbone Global Opportunities Fund X Acc

GB00BFNWMT05

DUAL

SINGLE

Rathbone Ethical Bond Fund S Inc

GB00BDD0RM82

DUAL

SINGLE

Rathbone Ethical Bond Fund S Acc

GB00BDD0RN99

DUAL

SINGLE

Rathbone Global Opportunities Fund S Acc

GB00BH0P2M97

DUAL

SINGLE

 

  • CHANGES TO INITIAL CHARGES

With effect from 21 January 2019, the following funds will have a 0% initial charge:

 

Fund Name

ISIN

Initial charge to 18 January 2019 (inclusive)

Initial charge from 21 January 2019

Rathbone Ethical Bond Fund Income

GB0030957020

1.0000

0

Rathbone Ethical Bond Fund Accumulation

GB0030957137

1.0000

0

Rathbone Global Opportunities Fund Accumulation

GB0030349095

2.5000

0

Rathbone Income Fund Income

GB0001229045

2.5000

0

Rathbone Income Fund Accumulation

GB00B06ZVC73

2.5000

0

Rathbone UK Opportunities Fund Income

GB0005062293

2.5000

0

Rathbone UK Opportunities Fund Accumulation

GB0030430804

2.5000

0

Rathbone Spenser Fund

GB0032852575

5.5000

0

Rathbone Dragon Trust Income

GB0008467879

8.0000

0

Rathbone Dragon Trust Accumulation

GB0008467762

8.0000

0

 

Implications:

Fund dealing point and deal cut off:

We need to make a change to our systems after the 12 noon deal cut off on Friday 18 January 2019, so would ask that you do not submit any STP trades between noon on Friday 18 January 2019, and 08:00 on 21 January 2019, as they will be rejected. Please hold your STP trade instructions until 08:00 on 21 January, when we will be able to accept STP instructions again, for the 12 noon dealing point on the 21 January 2019.

 

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As a result of merger activity, dealing in all share classes of the European High Yield Bond Fund will be suspended after the 12 noon VP on 24/01/2019.

The donor share class will be converted to the host share class as detailed in the below table on the effective date of 25/01/2019.



The share classes detailed in the below table will recommence dealing on the 28/01/2019.

Should you have any queries on this communication please contact the DST Distributor Client Services Team, our contact details can be found by clicking here.

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UPDATED 12 August 2016 16:50 - Updated statement received

We have been supplied with the below revised statement from Aberdeen Fund Managers Limited in regards to the suspension of the Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust suspensions:

Aberdeen Fund Managers Limited ("Aberdeen") reports that today's published price for the Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust (together "the Funds") now includes a fair value adjustment of minus 5% to the most recent end-month independent valuation of the underlying property portfolio, up from minus 7% which had been in effect from 6 July 2016. This reflects our revised assessment of the impact of the vote to leave the EU on property values in the Fund. This revision takes into account the latest emerging evidence from independent valuers, evidence of transactions in the market and other relevant inputs. These inputs continue to be reviewed regularly, taking account of updated information, and the adjustment may be changed (increased or decreased), without notice, in order to protect the interests of all investors.

Shareholders can find any additional information on our website at www.aberdeen-asset.co.uk


UPDATED 1 August 2016 10:00 - Updated statement received

We have been supplied with the below revised statement from Aberdeen Fund Managers Limited in regards to the suspension of the Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust suspensions:

Aberdeen Fund Managers Limited is pleased to report that it has completed the process of rebuilding liquidity levels in the Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust (together “the Funds”) and that trading in the Funds has reverted to levels which no longer require property sales in a compressed timescale.  Accordingly today’s published price includes a dilution adjustment of 1.25% which is the level which was in place prior to the EU Referendum.  Trading is monitored daily and the dilution adjustment may be increased without notice, if required in order to protect the interests of all investors.

Today's published price continues to include a fair value adjustment of minus 7% to the most recent end-month independent valuation of the underlying property portfolio, reflecting our assessment of the impact of the vote to leave on underlying property values.  This is also reviewed regularly, taking account of regular, updated information from independent valuers, evidence of transactions in the market and other relevant inputs, and may be changed (increased or decreased) without notice in order to protect the interests of all investors.

The Funds continue to be priced on terms set out in the Funds prospectuses, and our pricing basis has been notified to the Depositary.

Shareholders can find any additional information on our website at www.aberdeen-asset.co.uk

UPDATED 21 July 2016 12:45 – Updated statement received

We have been supplied with the below revised statement from Aberdeen Fund Managers Limited in regards to the suspension of the Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust suspensions:

Following the reopening of the Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust (together “the Funds”) we have been carefully monitoring the flows in and out of the Funds and the market sentiment within the UK commercial property sector as well as rebuilding the cash positions. As a result, we have reduced the dilution adjustment on the properties within the portfolio which has resulted in a 7.5% uplift on the Funds’ dealing price. A fair value adjustment of 7% continues to be applied to the underlying property portfolio.
 
The reduction in the dilution adjustment applied is a reflection of the reduced volume of redemptions experienced over the past week and the fact that cash levels of the Funds have been rebuilt following the completion of a select number of property disposals. The reduced dilution adjustment  figure still takes into account the potential need to dispose of properties more quickly than normal in order to provide liquidity. Doing so allows us to treat all customers fairly: protecting value for longer-term investors, whilst importantly continuing to provide daily liquidity to those who wish to redeem. If future trading in the Funds continues to revert to more normal levels, we would expect to lower further or remove the dilution adjustment. However, if redemptions from the Funds increase and cash levels are again depleted the dilution adjustment may rise.
 
Shareholders can find any additional information on our website at www.aberdeen-asset.co.uk

UPDATED 13 July 2016 12:00 – Updated statement received

We have been supplied with the below revised statement from Aberdeen Fund Managers Limited in regards to the suspension of the Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust suspensions:

As planned, Aberdeen Fund Managers Limited (“Aberdeen”) has today lifted the trading suspension on the Aberdeen UK Property Fund and the Aberdeen UK Property Feeder Unit Trust (together “the Funds”). The suspension was put in place to allow those who placed orders by reference to the 6 July valuation point, to reassess those trades and cancel them if they wished having been informed of the anti-dilutive measure put in place.
 
Any un-cancelled orders for subscriptions and redemptions in the Funds placed between 12 noon on 5 July and 12 noon on 6 July 2016 will now be processed at the diluted price as at noon 13 July 2016.

With the suspension removed, investors are now able to submit trades after 12 noon on 13 July 2016 but at a diluted price that reflects the current market environment and the fact that short-term sales in the property market have relatively penal consequences. Any orders placed during the suspension period will have been rejected and new trades will now need to be re-submitted after 12 noon on 13 July 2016. However, investors will not have the opportunity to cancel trades in the event of any future changes to the Fair value and Dilution adjustments as they did during the suspension period.

It is important to note that the anti-dilutive measures we have put in place have been imposed solely to reflect the need to dispose of properties in order to provide liquidity. Doing so allows us to protect value for longer-term investors and, although today’s price also incorporates a fair value adjustment of 7% on property holdings, the diluted price is quite distinct from that and not a reflection of what we believe is currently achievable in the absence of undue pressure to sell properties. Accordingly, if future trading in the Fund reverts to lower levels, we would expect to lower or remove the dilution adjustment, and the price would then revert to a level reflective of longer-term property values.
 
We recognise that the temporary suspension since 6 July 2016 and the anti-dilutive measures we have taken will have inconvenienced some shareholders, but Aberdeen remains absolutely focused on providing liquidity to shareholders who wish to access it, while protecting value for the remaining shareholders; our aim is to ensure all shareholders are treated fairly. Shareholders can find any additional information on our website at www.aberdeen-asset.co.uk

The decision to lift the suspension period was taken by Aberdeen in agreement with the Depositary.

Martin Gilbert, Chief Executive of Aberdeen Asset Management, comments:

“Following the lifting of the week-long suspension, I am pleased that investors will now be able to trade shares in the funds. Investors should be aware that the price may be adjusted on a daily basis to reflect the funds requirement to provide liquidity and the need to protect all investors. The market may take time to find its level but I have no doubt that property will continue to play an important part in investors’ portfolios.”

Aberdeen Fund Managers fund list

Aberdeen Fund Managers shareholder mailing

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Please click here for further details of the fax number change for Aberdeen effective from 15 May 2017.
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