Fidelity funds soft closed
Fidelity funds soft closed
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essayer

Original Poster:

10,410 posts

224 months

Friday 6th October 2017
quotequote all
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?




8.4L 154

5,775 posts

283 months

Friday 6th October 2017
quotequote all
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 ISIN

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

essayer

Original Poster:

10,410 posts

224 months

Friday 6th October 2017
quotequote all
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.