You are here: AdviserArchive: July 2011

Archive: July 2011

This page is for Professional Financial Advisers only Latest from Cofunds - week commencing 11 July 2011

How Henderson's acquisition of Gartmore affects you and your clients

From 11 July 2011, the Gartmore and Henderson fund ranges have been integrated - with Gartmore funds being renamed to Henderson. There have been a number of changes to the way Gartmore funds will operate going forward, including changes to contact details, statements, commission payment timetables, account numbers and the Terms of Business. For a full breakdown of all the changes take a look at Henderson's integration update.

IMPORTANT NOTICE: Updated disclosure documents

We've updated our disclosure literature to reflect the enhanced online trading services and operating systems we'll be offering from 25 July 2011.

The Adviser Agreement and the Cofunds Adviser SLA have been updated to reflect the new functionality.

We have also updated the Cofunds Platform Terms & Conditions and Your Guide to Investing with Cofunds.

You only need to provide the 'Terms & Conditions of the Cofunds Platform' and 'Your Guide to Investing with Cofunds' to your existing clients if they wish to make use of the enhanced services.

These changes will apply to you and your clients from 25 July 2011. None of these changes are detrimental to you or your clients; they simply bring our disclosure documents in line with our improving proposition.

Castlestone funds suspended for new investments

Further to the FCA opening it's investigation into Castlestone, we have suspended their funds for all new investments with immediate effect. We will monitor the situation closely as the FCA's investigation progresses.

Key Investor Information Documents (KIIDs)

From 1 July 2011 all new UCITS funds require a KIID. Replacing Simplified Prospectuses, KIIDs are straightforward, two page documents aimed to clearly and transparently set out the characteristics, risks and nature of a fund in an easily digestible way for investors. By 30 June 2012 all UCITS funds require a Key Investor Information Document.

Not all UCITS funds will have a KIID from day one.

Coming from an industry-wide, UCITS 4 directive, the two page Key Investor Information Document (KIID) is to be provided to investors prior to or at the point of sale, setting out the characteristics, risks and nature of a fund.

European policymakers have implemented a change to the UCITS regulations to ensure that information on specific funds is clear and transparent, written in plain English and enabling investors to easily understand necessary documentation without confusion.

All NEW UCITS funds require a KIID from July 1 - existing UCITS funds will need to replace their simplified prospectuses within the next year - please take a look at the timeframes below:


1 July 2011 - All NEW UCITS funds domiciled in Europe that are launched after this date are required to have a KIID.

1 July 2011 - 30 June 2012 - During this time all UCITS funds domiciled in Europe are required to replace Simplified Prospectuses with KIIDs.

30 June 2012 - All UCITS funds domiciled or distributed within Europe should all have replaced their simplified prospectuses with KIIDs by this date.

See the best bits from this summers Investment Forum

Take a look at the highlights from our most recent conference - hear from Artemis' William Littlewood on why he doesn't believe central bankers are as tough on inflation as they say, Pictet's Gertjan van der Geer on why agriculture stocks are so hot right now and Old Mutual's Stewart Cowley on why inflation will continue to rise over the coming years, plus other expert views from the rest of our panel.

Have you explored the Cofunds Pension Account?

Our collectives-only pension option is intended to be as simple as an ISA and a great way to introduce your clients to investing for their post-work life. The CPA has an online illustration and application process and if your client wishes to branch out into additional investment vehicles at a later stage, they have the option to upgrade to the Suffolk Life MasterSIPP. Watch a short video on the Cofunds Pension Account.

Corporate actions

View details of recent and upcoming corporate actions.