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
01/11/2021 Polar Capital Funds Plc

Please note, that with effect from 1st November 20201, settlement times for subscriptions will be changing from three to two days and redemptions from four to three days for the following funds:

Class S Sterling Share Class           

Class S Hedged Sterling Share Class           

Class S Hedged Euro Share Class 

Class S Hedged US Dollar Share Class       

Class R Hedged Sterling Share Class          

Class R Hedged Euro Share Class

Class R Hedged US Dollar Share Class       

Class R US Dollar Share Class       

08/11/2021 Waverton Global Core Equity Fund We have been notified that the Waverton Global Core Equity Fund (“Merging Fund”) will merge into the Waverton Strategic Equity Fund (“Receiving Fund”), effective from the 8th November 2021. Access to the merging fund will be restricted from 1st November 2021.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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