"Clean" version not available

LHW99 · 22 May 2015 at 8:35PM

I wonder if anyone can give any information on this isse for me?

My OH has had a small amount in the Franklin MENA fund for a while (as part of his sipp investments).
He would like to add to this, but the platform will not allow it because:
a) its a 'dirty' fund, so he can't buy new units of that type
b) there is no 'clean version'

Is it Franklin that creates the clean version, or the platform, or is he stuck with a fund that can only ever be sold?

Linton · 22 May 2015 at 8:58PM

LHW99 wrote: »

I wonder if anyone can give any information on this isse for me?

My OH has had a small amount in the Franklin MENA fund for a while (as part of his sipp investments).
He would like to add to this, but the platform will not allow it because:
a) its a 'dirty' fund, so he can't buy new units of that type
b) there is no 'clean version'

Is it Franklin that creates the clean version, or the platform, or is he stuck with a fund that can only ever be sold?

It's the fund manager who creates the fund versions (or "classes" as they are known). Where there isnt a clean fund the platform should refund the commission it receives from the manager. Dirty funds are due to be phased out by April next year as fund commissions will no linger be allowed. What and when things will happen to those funds yet to provide clean classes isnt clear to me - I have one.

There are other MENA funds - Fidelity have one.

xylophone · 22 May 2015 at 9:00PM

Franklin would issue the clean version see http://www.franklintempletoncareers.com/downloadsServlet?docid=h2xgmmga

Give them a ring?

LHW99 · 22 May 2015 at 9:39PM

Thanks for the responses, it's what I was thinking.

We asked the platform and the answer implied it couldn't be bought because they (the platform) hadn't converted everything to clean funds yet - but as the answer was from II it seemed appropriate to get second opinions .......

Linton · 23 May 2015 at 9:21AM

xylophone wrote: »

Franklin would issue the clean version see http://www.franklintempletoncareers.com/downloadsServlet?docid=h2xgmmga

Give them a ring?

The problem may be that the MENA fund is Luxembourg registered rather than UK. Your link appears to only refer to Franklin UK.

Trustnet doesnt list a clean class.

LHW99 · 23 May 2015 at 3:39PM

That's probably the issue - apart from the one GBP version, other units are EUR or USD.

I think we'll hold back for now, and contact Franklin later in the summer if there is still no clean class listed.

"Clean" version not available

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