You are here: AdviserArchive: February 2016

Archive: February 2016

This page is for Professional Financial Advisers only Latest from Cofunds - week commencing 22 February 2016
Funds affected by Sunset

Funds affected by Sunset

In February 2016, we wrote to any of your clients that still hold one of our listed commission-included funds.

View which funds will be affected here

Complying with FATCA

Complying with FATCA

To comply with The Foreign Account Tax Compliance Act (FATCA), we may be required to capture your client's tax residency details.

Find out more information on FATCA

Requesting a change of adviser or intermediary

Requesting a change of adviser or intermediary

From 1 March 2016, we'll no longer be accepting written requests for change of adviser or intermediary.

Find out more here

Corporate actions

Corporate actions

View details of recent and upcoming corporate actions

View the latest corporate actions here

Funds affected by Sunset

In response to the Sunset regulations, all investments on the Cofunds platform need to be converted to commission-free share class funds by 5 April 2016.

Where a commission-free fund has not been launched we've sought to minimise the impact to your clients by working closely with the relevant fund managers.

In February 2016, we wrote to any of your clients whose funds have no commission free equivalent available, or where:

  • There is a commission-free version with an alternate income option
  • A commission-free fund is due to be launched
  • The fund is undergoing a corporate event and so won't be available or will be merging with another clean share class fund.

Your client's letter detailed what will be changing and when the changes to their fund will take effect. However, you may wish to speak with your client to consider an alternative fund or continue to monitor your client's progress with our Sunset progress tracker.

We have a list of funds affected by these changes, which you can view on our dedicated commission-free Sunset webpage.

Complying with FATCA

The Foreign Account Tax Compliance Act (FATCA) aims to combat tax evasion by US tax residents using foreign accounts. So under UK law, we may need to capture your client's tax residency details.

We've already begun to request this information from you where required - and you can easily provide this using our improved Self-Certification forms which are available from our 'Document centre' here.

Requesting a change of adviser or intermediary

From 1 March 2016, we'll no longer be accepting written requests for a change of adviser or intermediary.

In the unlikely event that one of your clients wishes to change adviser or intermediary, please complete the 'Change of Adviser' or 'Change of Intermediary' Form which can be found in our Document Centre.

View the new forms in our 'Document centre' here.

Perspectives