Fund suspension FAQs

The fund share price will continue to change to reflect the value of the investments it holds. Changes in the value of your investment during this time will be a result of market movements, coupled with changes to the investments held in the fund. You will be able to see the up-to-date value of your investment if you log in to your account.

There is no set time frame; suspensions end as soon as the Authorised Corporate Director or Depositary of a fund decides a course of action that is in the best interests of investors in that fund. This could be the appointment of an alternate investment manager, a scheme of arrangement into another fund or a winding-up of the fund (by selling the assets and returning the proceeds to investors), or re-opening it.

An ACD is authorised by the Financial Conduct Authority and is the head of a fund’s board of directors, with full control of it.

A depositary is required by law for all funds to protect investors’ interests and assume liability for the safekeeping of their assets. It monitors a fund’s cash flows and, in effect, keeps all service providers in check by performing post-trade investment and borrowing restriction monitoring.

No.

If you have dividend payments from a suspended fund paid straight out to your bank account, you will receive them as normal.

If you have a withdrawal plan that involves selling shares in such a fund, it will resume automatically when the fund is lifted.

We will collect your direct debit payment as usual, and any money that would usually have been invested in this fund will remain in your account as cash. You can chose an alternative investment, or if you want to invest in the same fund then you can wait until the suspension is lifted.

No. It is not be possible to buy shares in a suspended fund and so we cannot reinvest any dividends you receive.

If you have asked us to reinvest dividends from a fund that is currently suspended, the payments will stay in your account as cash. This applies to ISAs, Investment Accounts and pensions.

This will depend on how the transfer is being carried out:

• If it is a ‘re-registration’ (in other words, your shares are simply being moved from one platform to another without being sold), the transfer can go ahead as planned, whether it is to or from Fidelity.
• If the transfer involves selling shares in a suspended fund and moving the proceeds as cash, this will no longer be possible. In a case where shares in the fund were sold before dealing was suspended, the proceeds can be moved as cash, either to or from Fidelity, but it will not be possible to reinvest them in the fund.

Our service fee covers all the services we provide, such as producing valuations, fact sheets, customer communications and statements. We have to continue providing these services when dealing in a fund which is suspended. As a result, we don't waive our Service Fee in relation to suspended funds.