Columbia Threadneedle to shift EU customer assets out of UK ahead of Brexit

Summary

Columbia Threadneedle Investments is transferring EU customer assets from its UK OEIC range to equivalent funds in its Luxembourg SICAV range ahead of Brexit.

A total of 20 funds from the Threadneedle UK OEIC range will transfer assets to equivalent funds in the Luxembourg SICAV range, with the firm launching 13 new funds on its SICAV platform.

The Commission de Surveillance du Secteur Financier and the FCA have been notified of the proposed transfers.

Columbia Threadneedle says the transfers are subject to shareholder approval and investors will receive further information between now and September.

Implications

Columbia Threadneedle EMEA chief executive Michelle Scrimgeour says: “Our priority is to provide certainty and continuity for our clients. By facilitating the transfer of European customers to our existing Luxembourg range we will ensure they can continue to access our best investment strategies in a UCITS-compliant fund, regardless of the final agreement between the UK and the EU. For EU investors, the transfers will remove uncertainty regarding the future status of their investment in their home country.”

Link

https://www.moneymarketing.co.uk/columbia-threadneedle-shifts-eu-customer-assets-uk-ahead-brexit/

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