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Blog posts from IFDS for news section.

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Please click here for more information on the latest BMO corporate action.
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Please click here for more information on the latest corporate action.
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Please be advised that Standard Life Investments will be open for dealing on Monday 29 May.
 
This is a trading day however it will not be treated as a settlement day as this is a UK bank holiday.
 
Please see the below breakdown which confirms VP and settlement dates for the next week:



We would be grateful if you could set expectations with your dealing/reconciliation/settlements teams to avoid unnecessary enquiries.
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Please click here for the Investec mailing that has been sent out to all shareholders.
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Please click here for further information on the BlackRock corporate action.

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Please be informed a client mailing has been sent to the shareholders of the Neptune Japan Institutional Fund.



Should you have any queries on this communication please contact the IFDS Distributor Client Services Team, our contact details can be found by here.
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Please click here for more information on the latest corporate action.
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Please click here for further details of the fax number change for Aberdeen effective from 15 May 2017.
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Please click here for further information on the Old Mutual Spectrum fund merger.
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Please click here for further information on the PSA Fund Conversion.

 

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J.P.Morgan have provided the following statement on the safeguarding of client money and assets:

The FCA (Financial Conduct Authority) has set out specific rules on how firms are required to safeguard their clients’ money and assets (shares) and to make clients aware of the arrangements that are in place. For further details please see the documentation for your product.

Where we hold your money as client money, we hold it in accordance with the FCA Rules which require us to have in place adequate record keeping, accounts and reconciliation procedures to safeguard it. We also have in place procedures to cover the selection, approval and monitoring of the bank(s) we use to hold your money.

J.P.Morgan Direct OEIC Holding
All money relating to a buy or sell transaction will not be protected for the 24 hour period during which the transaction is processed. Thereafter, all money will be held in a client money bank account in accordance with FCA client money rules. Income distributions are processed by the Depositary of the Fund and are not subject to FCA client money rules. Please note that if distributions remain unclaimed for a period of more than six years, they will be paid back into the Fund in accordance with the Fund Prospectus. As your OEIC shares are held directly in your name on the Funds share register, the FCA client asset rules do not apply.

ISA, Investment Account and Legacy Cash
All cash in your account is held on your behalf in a client money bank account. All shares are held on your behalf within a Nominee company. Both are subject to FCA client money and asset rules respectively.
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Please click here for further details of the fax number changes effective from 1 May 2017.

**Update 28 April 2017** 

Fundsmith will no longer be changing fax number on 1 May 2017.
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Please click here for the full list of AXA Investment Managers funds launching in May.
Hits: 277
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Please click here for further information on the impending fund closure.
Hits: 339
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Please click here to view the Fund Partners Allium Offload communication.
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Please be advised that Standard Life Investments will be open for dealing on Monday 1 May 2017.
 
This is a trading day however it will not be treated as a settlement day as this is a UK bank holiday.
 
Please see the below breakdown which confirms VP and settlement dates for the next week:



We would be grateful if you could set expectations with your dealing/reconciliation/settlements teams to avoid unnecessary enquiries
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Please click here for further details of the Columbia Threadneedle Equity Fund Merger.
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Updated information received:

Gross declaration forms
 
To date, if a Fund Manager offers a Gross Share Class of a Fund, then a Gross Declaration form has been required at the point of investment or transfer to show eligibility to invest. IFDS understands that from 6 April 2017 these declarations will no longer be required for funds that pay interest distributions. Please note this guidance is not applicable to requirements for PAIFs.

Impact for IFDS Fund Groups
 
A number of Fund Managers have completed shareholder notifications already, or continue to plan any potential impact to the funds they administer and their unitholder base. Once notification is available to investors, a link to the document will be made available below:

- Architas
- BlackRock
- Columbia Threadneedle:
Mailing - http://www.columbiathreadneedle.co.uk/media/10504536/en_gross_payments_further_information.pdf
Q&A - http://www.columbiathreadneedle.co.uk/media/10504530/en_cti_gross_payments_qa.pdf
- Investec: - http://www.investecassetmanagement.com/document/pdf/Investec-OEIC-Gross-Net-Shareholders-January-2017_en.pdf
- J.P. Morgan
- Standard Life:
- http://ifdsportal.com/news/entry/sli-distribution-net-to-gross

The following Fund Groups do not currently offer funds that pay interest distributions:

Fundsmith
Liontrust
McInroy & Wood
Neptune
Schroders Life
SVM

Original communication:

From 6 April 2017, the UK Government is changing tax rules for interest distributions, removing the requirement for the deduction of 20% income tax at source for OEIC, Unit Trusts and Investment Trust companies.

No physical changes will be made to DistributorOnline Reporting (DOLR), however you may see a difference in the distribution data reported under your recipient.  You can continue to review all information relating to Distributions via the Final Distribution report, with the following fields indicating any changes to dividend income taxation: Column P 'Distribution Type' will identify if the payment is Dividend or Interest based.  
Column U 'Tax %', reflects the tax applied to the Distribution, and is therefore where you can expect to see these changes.

Guidance and user guides for each DOLR report can be found at http://ifdsportal.com/documents/distributoronline-guides

As a reminder, IFDS does not provide advice on taxation.

Please see http://www.ifdsportal.com/news/entry/dividend-tax for details of previous tax changes impacting dividend distributions (effective April 2016).

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Please click here to view the Legg Mason communication.
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Please click here for further information on the J.P.Morgan PSA Fund Conversion
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Further info

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