Fund updates

Here you will find updates and corporate actions for mutual funds, If your clients are invested in exchange-traded investments, corporate actions can be found once you have selected a client's account(s).

Side Pockets

The following details the side pockets that have been created on the platform:

Fund name	ISIN	Code	Temporary dealing restrictions	Date suspended	Date reopened
Schroder ISF - Emerging Europe Y9-Acc Side Pocket	LU247338101	SDEES	All dealing suspended	18th July 2022

Fidelity Sustainable Emerging Markets Equity Fund

Update as of 26th April 2024

Interim distribution to be paid to Investors from 21st May 2024

Fidelity have advised they will be making an interim distribution to investors of the closed Fidelity Emerging Europe, Middle East & Africa (‘the EMEA’ fund), which is in wind down, on or around the 21st May 2024.

The fund recently sold Depositary Receipt positions which had underlying Russian securities, but were not directly subject to sanction restrictions. Consequently, Fidelity will be making an interim distribution, together with other receivables to investors on or around 21st May 2024. The payment will either be paid directly into cash within your account, into your bank account, or paid to you by cheque, depending on how you hold the Fund.

Once the payment has been made, you will be able to see the amount paid by logging in and viewing your transactions history and also in your next Quarterly Statement and Valuation.

The remaining holdings in the EMEA Fund remain illiquid and/or subject to sanctions. Fidelity will continue reviewing opportunities to sell with the aim of returning value to investors. We will continue to publish updates online. Your Adviser will also have access to this information.

Update as at September 2023

As per previous correspondence with investors, no investor is able to buy or sell shares in the EMEA Fund as we have taken the necessary steps to close the Fund. When possible, the Russian assets will be sold with the aim of returning value to shareholders. In the current environment, it is not possible to estimate how long this process might take to complete or what the eventual value might be.

Please note that the EMEA Fund is not being charged any annual management charges. Fidelity may adjust this approach in the future and Shareholders will be notified in advance. The EMEA Fund may though be charged specific charges relating to, for example, depositary, custodian and legal services, but these costs will be funded by Fidelity. As the potential timeframe for disposal of assets is unknown and may extend to many years, Fidelity may adjust this approach to specific charges in the future so as to recover some, or all of these specific charges from the value of the EMEA Fund.

Effective date: 24 March 2023

On 24 March the assets of the EMEA Fund were split. Only Russian holdings remain in EMEA with investors receiving an equal number of shares in the newly created Fidelity Sustainable Emerging Markets Equity Fund (the “SEME Fund”).

Following the Effective Date, no investor will be able to buy or sell shares in the EMEA Fund as we will take the necessary steps to close the Fund. When possible, the Russian assets will be sold with the aim of returning value to shareholders. In the current environment it is not possible to estimate how long this process might take to complete, or what the eventual value might be.

Please note that the EMEA Fund will not be charged any annual management charges. Fidelity may adjust this approach in the future and Shareholders will be notified in advance. The EMEA Fund may though be charged specific charges relating to, for example, depositary, custodian and legal services, but these costs will be funded by Fidelity. As the potential timeframe for disposal of assets is unknown and may extend to many years, Fidelity may adjust this approach to specific charges in the future so as to recover some or all of these specific charges from the value of the EMEA Fund.

Source fund (in wind up):

EMEA Fund A-ACC-GBP GB00B29TR993
EMEA Fund W-ACC-GBP GB00B87Z7808

Receiving fund:

Sustainable Emerging Markets Equity Fund A-ACC-GBP GB00BQBG6F54
Sustainable Emerging Markets Equity Fund W-ACC-GBP GB00BQBG6R76

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