Standard Life Ignis UK Property
Ralfos
Member
Is anyone else having problems with this fund? Its gone through so many conversions over the last few months and pricing changes its becoming a joke.
My main problem now is that we are moving platforms for a client but each platform converted the previous class into different new classes so I cant now re-reg the fund. This will mean selling and rebuying which I absolutely want to avoid due to the risk of a dilution levy (~5%). Its also just moved to mid price so if it moved back to offer in the mean time it could cost him another 5.5%!
Am I missing a trick here (very possible) or is it just tough luck? Im tempted to write to the fund manager as this could cost our client upwards of £10k if a levy is applied and we have been long term investors in this fund across various platforms.
My main problem now is that we are moving platforms for a client but each platform converted the previous class into different new classes so I cant now re-reg the fund. This will mean selling and rebuying which I absolutely want to avoid due to the risk of a dilution levy (~5%). Its also just moved to mid price so if it moved back to offer in the mean time it could cost him another 5.5%!
Am I missing a trick here (very possible) or is it just tough luck? Im tempted to write to the fund manager as this could cost our client upwards of £10k if a levy is applied and we have been long term investors in this fund across various platforms.
Comments
Sadly, I don't have any immediate solutions I can give you only to add that we've had people out of the market with their property holding(s) when doing reregistrations due to different platforms supporting or not supporting PAIFs.
Where are you moving from/to?
Paraplanner. F1, Apple, Nutella, ice cream. No trite motivational quotes. Turning a bit northern.
thanks