On 9 May we announced plans to transfer EU customer assets from our UK OEIC fund range to equivalent funds in our established Luxembourg SICAV range, to best serve European clients after the UK departs from the European Union.
When the UK leaves the EU (and at the end of any transition period), it’s highly likely that UK-based OEIC funds will lose their UCITS status. By transferring assets to our Luxembourg fund range, we can provide certainty for our EU-based investors and ensure they remain in a UCITS-compliant fund, regardless of the final agreement between the UK and the EU.
A total of 20 funds from the Threadneedle OEIC range will be impacted. The transfers are subject to shareholder approval.
For further information please refer to the press release and Q&A.