Preparing for Brexit
Columbia Threadneedle Investments is working to prepare for the UK’s departure from the European Union. Our aim is to provide certainty and continuity for our customers, regardless of the final Brexit outcome. We are actively engaging with our industry association and other relevant bodies to ensure we are abreast of the latest intelligence as well as any relevant industry views and plans.
We have a comprehensive plan in place to minimise disruption to you and your clients, our funds and our business, even in the event of a “no deal” Brexit.
Information regarding our completed asset transfer programme can be found here.
EU-based investors remaining in OEIC funds
When the UK leaves the European Union, we expect that UK-based OEIC funds will lose their UCITS* status. As far as we know there is nothing prohibiting EU and non-UK investors from remaining in an OEIC fund. Further, it is likely that OEIC funds will continue to be UCITS-compliant through any transition period that may apply, giving investors additional time to consider their options. You should be aware that, should the UK leave the EU without an agreement in place, there may be no transition period. Should investors wish to transfer to our alternative EU-based SICAV fund range we will be happy to facilitate this.
If you are unclear about the impact of Brexit on the status of your clients’ investments, or have further questions, please call us on +352 46 40 10 7020 (calls may be recorded) or contact your Sales representative.
*UCITS stands for Undertakings for Collective Investment in Transferable Securities. UCITS provides a harmonised regulatory regime for the management and sale of mutual funds within the European Union.