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Announcement

Columbia Threadneedle to transfer customer assets from UK OEIC to its Luxembourg fund range

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Columbia Threadneedle Investments is planning to transfer EU customer assets from its UK OEIC range to equivalent funds in its established Luxembourg SICAV range, to best serve European clients after the UK departs from the EU.

A total of 20 funds from the Threadneedle OEIC range will transfer assets to equivalent funds in the SICAV range, with the firm launching 13 new funds on its SICAV platform. The transfers are subject to shareholder approval.
 
Michelle Scrimgeour, CEO, EMEA at Columbia Threadneedle, 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.”
 
Investors in impacted funds will receive detailed information regarding the transfers between May and September.
 
The Commission de Surveillance du Secteur Financier (CSSF) and the Financial Conduct Authority (FCA) have been notified of the proposed transfers.

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