Fidelity funds soft closed
Discussion
I have four Fidelity funds which I can suddenly not add funds to as, according to BestInvest, they have all 'soft-closed'
This is an new one for me. If I look on other sites and even on Fidelity's own site then there is nothing mentioned about this.
e.g. GB00BLT1YT76
Is this a permanent thing, or just a restriction placed by BestInvest ?
Would you generally just start investing in a new fund in the same sector, and keep the soft-closed ones?
This is an new one for me. If I look on other sites and even on Fidelity's own site then there is nothing mentioned about this.
e.g. GB00BLT1YT76
Is this a permanent thing, or just a restriction placed by BestInvest ?
Would you generally just start investing in a new fund in the same sector, and keep the soft-closed ones?
I received this in my TD direct account in relation to BLT1YT7 (GB00BLT1YT76) and may be relevant.
cooperate action notice said:
Stock
FIL INVESTMENT SERVICES(UK)LIMITED
Event Type
Mandatory Conversion
Description
Merger Effective date: 6th October 2017 Terms: Holders will be issued with P shares in exchange for their W shares at a rate to be confirmed Pay date: to be confirmed Fidelity International have announced that they are moving holders of the W share class of each Fidelity Index fund into the equivalent P Share class effective from the 6th October 2017. This will give investors the benefit of lower Ongoing Charges. Under the terms of the Merger, holders will be issued with P shares of Fidelity Index Fund in exchange for every W share in Fidelity Index Fund. Accounts will be updated upon receipt of the stock from our custodian.
ETA Fund classes and ISINFIL INVESTMENT SERVICES(UK)LIMITED
Event Type
Mandatory Conversion
Description
Merger Effective date: 6th October 2017 Terms: Holders will be issued with P shares in exchange for their W shares at a rate to be confirmed Pay date: to be confirmed Fidelity International have announced that they are moving holders of the W share class of each Fidelity Index fund into the equivalent P Share class effective from the 6th October 2017. This will give investors the benefit of lower Ongoing Charges. Under the terms of the Merger, holders will be issued with P shares of Fidelity Index Fund in exchange for every W share in Fidelity Index Fund. Accounts will be updated upon receipt of the stock from our custodian.
| FID FIF - Fidelity Index Emerging Markets Fund P-ACC-GBP | GB00BHZK8D21 |
| FID FIF - Fidelity Index Emerging Markets Fund P-Inc-GBP | GB00BP8RYT47 |
| FID FIF - Fidelity Index Emerging Markets Fund W-ACC-GBP | GB00BLT1YT76 |
| FID FIF - Fidelity Index Emerging Markets Fund W-Inc-GBP | GB00BP8RYV68 |
Edited by 8.4L 154 on Friday 6th October 12:11
Thanks, that makes sense - I spoke to BestInvest and they weren't really sure, which wasn't particularly confidence inspiring. Apparently it might reopen again "in a few days"
I'm assuming my holdings were transferred to the P account today and once BI's platform updates I'll be able to add shares.
I'm assuming my holdings were transferred to the P account today and once BI's platform updates I'll be able to add shares.
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