Corporate Actions

A corporate action may affect any investment held through the Novia Global Wealth Management Service. This could involve a significant change to an investment including, amongst others:

  • A change of name, investment objective or policy.
  • A change to the level or nature of charges that apply to your investment.
  • Your investment closes, merges into another or becomes unavailable through the Service.
  • A change to the type, structure or regulation of your investment.

You may be unable to buy or sell investments via the service during the time in which we process corporate actions. This will include, amongst others, name changes, mergers or closures. It will typically not be possible to carry out transactions on investments about to undergo a corporate action for up to 20 business days prior to the effective date of the action.

Below you can find details of the investment affected, the corporate action that is going to happen and the date on which the change will become effective. You should check this page regularly to keep up to date with corporate actions and any impact they may have.

Property funds

Further to the recent announcement on 9th September from a number of independent property valuing bodies’ , their opinion is there is now sufficient evidence to be able to accurately value properties without the previous uncertainty they believed existed. However, the majority of fund groups have since confirmed that they will still retain the trading exclusion on their UK property funds until further notice.  On platform this includes Aviva, BMO, Kames and Janus Henderson.  As and when these suspensions are lifted and we are notified by the relevant fund groups, we will update accordingly.

Aberdeen have lifted the suspension of trading on their property funds. 

Cash

In these times of uncertainty and volatility, there is often a flight to cash and deposit holdings. With governments across the globe using interest rates as part of their economic response, we suggest you regularly review which currency holdings are most appropriate for any client and how long they hold them for. With interest rates at low levels (some negative) charges will only reduce returns further. Therefore, clients need your advice to help them understanding the real risks they face more than ever. You can find information on current interest rates here.

 

Effective Date Investment Affected Corporate Action
31/05/2024 Regnan Global Equity Impact Solutions GBP, Seed Regnan Global Equity Impact Solutions USD, Seed Regnan Global Equity Impact Solutions EUR, Seed Regnan Sustainable Water and Waste Fund GBP, A Regnan Sustainable Water and Waste Fund EUR, A Regnan Sustainable Water and Waste Fund USD, A Regnan Sustainable Water and Waste Fund GBP, Y Regnan Sustainable Water and Waste Fund EUR, and Y Regnan Sustainable Water and Waste Fund USD Y. We have been informed by the fund manager that these funds with undergo a merger with effect from 31/05/2024. Please contact the fund manager for further information.
 23/05/2024  Fed Hrms Mlti-Strtgy Cred Hgd Acc EUR We have been informed that the Fed Hrms Mlti-Strtgy Cred Hgd Acc EUR will merge into the Federated Hermes Uncon Crd F Hgd Acc EUR with affect from 23/05/2024. Please contact the fund manager for further information.
21/05/2024 Aviva Investors Gbl Conver Rah GBP We have been informed that the Aviva Investors Gbl Conver Rah GBP will undergo a fund closure with effect from 21/05/2024. Please contact the fund manager for further information.