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
01/03/2022 Various

We are currently monitoring the situation in Ukraine and beginning to see some funds go into suspension.

The current list of suspended funds are:

Aberdeen Std SCIEsnErpnEq A A€
Aberdeen Std SCIEsnErpnEq I A€
Aberdeen Std SCIEsnErpnEq X A€
JPM Russia A Dis NV$
JPM Emerg Eurp Eq A Dis USD
Pictet Russian Equities I EUR
Pictet Russian Equities I GBP
Pictet Russian Equities I USD
Pictet Russian Equities P EUR
Pictet Russian Equities P USD
Schroder ISF Emg Eur A Acc NAV €
Schroder ISF Emg Eur C Acc NAV €
Schroder ISF Emg Eur A DN€AV
Schroder ISF Emg Eur C DN€AV
Schroder ISF Emg Eur A DN£AV
BlackRock GF Emg Europe D2 €
BlackRock GF Emg Europe D2 $
HSBC GIF Russia Equity USD
HSBC GIF Russia Equity
HSBC GIF Russia Equity BC $$
HSBC MSCI Rus Cppd UCITS ETF EUR
iShares MSCI Russia ADR/GDR UCITS ETF EUR
iShares MSCI Russia ADR/GDR UCITS ETF GBP
iShares MSCI Russia ADR/GDR UCITS ETF USD

We will update this list as we receive information from our providers.

 13/10/2022  Ruffer Total Return

We have been informed that the following funds have undergone a stock split:

Ruffer Total Return Intl C Acc GBP (LU0638557586) - effective date 13/10/2022
Ruffer Total Return Intl C Acc EUR (LU0638557669) - effective date 14/10/2022
Ruffer Total Return Intl C Acc USD (LU0638557826) - effective date TBC

Holders receive 99 additional shares for every 1 held. No change in SEDOL.

For further information, please contact Ruffer

15/12/2022 Janus Henderson Emg Mrkt Corp Bd Acc USD

We have been informed that the Janus Henderson Emg Mrkt Corp Bd Acc USD fund will close with effect from 15/12/2022.

Please contact Janus Henderson for further information.

 

11/01/2023 BLACKROCK ASIA SPL BR ASIA SPECIAL SITS D ACC                   

We have been informed that the BLACKROCK ASIA SPL BR ASIA SPECIAL SITS D ACC fund will close with effect from 11/01/2023.

Please contact Blackrock for further information.

25/11/2022 Aberdeen Standard SICAV III Global Smaller Companies Fund

We have been informed that the Aberdeen Standard SICAV III Global Smaller Companies Fund will merge into the Aberdeen Standard SICAV II Global Smaller Companies Fund with effect from 25/11/2022.

Please contact Aberdeen for further information.