Fund suspensions – funds holding Russian stocks

Any trades that were in progress when the funds became suspended may also be affected. If your clients were impacted we will be in touch directly.

The funds will not appear for selection on the Platform but may still appear on other online systems as available for switching, but please note any online switch request including suspended funds will be rejected.

If your client is paying into the fund by Direct Debit, we will buy units proportionally across the other assets in their Direct Debit instruction. If the suspending fund is the only fund in the Direct Debit instruction, we will allocate the payment to cash, where it will stay until you send us a new instruction. Once the fund suspension is removed we will recommence buying units according to the original Direct Debit instructions, unless the instruction was updated in the meantime.

Please note: if a regular Direct Debit payment is allocated to the suspending fund, and you decide to switch to an alternative asset(s) from our extensive range, the Direct Debit will not automatically invest into the new asset choice. You will need to update the Direct Debit instruction separately online.

Any phased investment or rebalancing instructions using the fund will automatically continue following the suspension. Unless you give us an alternative instruction, the portion allocated to the suspended fund will be reapportioned across the other assets in the instruction, or cash if the fund is the only fund in the instruction.

Phasing and Rebalancing – Any phased investment or rebalancing instructions using the fund will automatically continue. These will either buy units in the other assets in the portfolio proportionally, or go into cash, depending on how you have set up the model portfolio. Alternatively, we will update the instruction if you provide a revised asset choice

Direct Debits – If your clients are paying into the fund by Direct Debit, future payments will either buy units, proportionally in the other assets in the portfolio, or go into cash, depending on how you have set up the model portfolio. Alternatively, we will update the instruction if you provide a revised asset choice.

Transfers in and out, including some cash transfers, may also be affected.

Automatic withdrawals will be unaffected unless the only fund your client holds is a suspended fund, in which case payments will be deferred until the suspension is lifted depending on the client’s product, except for existing active income drawdown payments.