You are here: AdviserArchive: November 2015

Archive: November 2015

This page is for Professional Financial Advisers only Latest from Cofunds - week commencing 23 November 2015
Sunset: No commission-free equivalent

Sunset: No commission-free equivalent

Not all funds have a commission-free equivalent.

See the funds with no clean share class equivalent

Fidelity's conversions

Fidelity's conversions

Find out more on how Fidelity's conversion process may affect you and your clients

View more information on Fidelity's conversions

Adviser Support Team opening hours during the holiday period

Adviser Support Team opening hours during the holiday period

Please make sure you keep an eye on the opening times for our Adviser Support Team.

Find out our opening times here

Corporate actions

Corporate actions

View details of recent and upcoming corporate actions

View the latest corporate actions here

Sunset: No commission-free equivalent

We're now managing the conversion process for your clients who still hold commission-included share class funds, and over the next few months the majority of these funds will be converted to their clean equivalent.

However some funds don't currently have a commission-free share class version, or, don't have a direct commission-free equivalent but do have a clean equivalent with a different income option. Where no clean equivalent is available, your client will not be able to make any new investments into this fund.

We'll therefore be writing to all of your clients that still hold these funds in February 2016 to explain what will happen next. During this time, you may wish to speak to your clients about alternate funds available to them.

Fidelity's conversions

To comply with the Sunset regulations, Fidelity have started to bulk convert any commission-included funds to their clean equivalent. This conversion process is expected to be completed by the middle of December.

While these conversions are being processed, you and your clients may experience the following:

  • Delays when trying to transfer or re-register from Fidelity to Cofunds
  • Potentially rejected or duplicated submission requests via transfer tracker.

To avoid these delays we suggest you wait until the third week of December to submit your instructions.

During this period, any instructions we do receive to re-register or transfer out of these funds will be rejected, but will be retained so that they can be completed after their conversion process is finished.

Please note that this does not affect our own Sunset conversion schedule.

Adviser Support Team opening hours during the holiday period

With the holiday season fast approaching, please keep an eye on the opening times for our Adviser Support Team.

Date Opening Hours
Monday 21/12/15 9-5pm
Tuesday 22/12/15 9-5pm
Wednesday 23/12/15 9-5pm
Thursday 24/12/15 9-2pm
Friday 25/12/15 Bank Holiday - Closed
Saturday 26/12/15 Bank Holiday - Closed
Sunday 27/12/15 Bank Holiday - Closed
Monday 28/12/15 Bank Holiday - Closed
Tuesday 29/12/15 9-2pm
Wednesday 30/12/15 9-2pm
Thursday 31/12/15 9-2pm
Friday 01/01/16 Bank Holiday - Closed
Monday 04/01/16 Normal 9-5pm opening hours
Perspectives