Selling a unit trust

Daz2009

I invested in a unit trust with Schroders many years ago.I'm now looking to sell.
Do I do this thru a stockbroker or do I have to go back to Schroders ?

xrjtg

You should sell through whoever you bought from originally, as they will be "administering" your holding.

Daz2009

Originally I bought direct from Schroders and was issued a share certificate but they subsequently incorporated that fund into another.I do not have a certificate for the new fund

Loughton_Monkey

You do not get 'Share Certificates' for funds. You get Share Certificates (sometimes) when you invest directly in shares. I am currently invested in about 15 funds, and have never seen a 'certificate' for them in my life. I consider the contract note to be evidence of my holding.

Daz2009

Loughton_Monkey wrote: »

You do not get 'Share Certificates' for funds. You get Share Certificates (sometimes) when you invest directly in shares. I am currently invested in about 15 funds, and have never seen a 'certificate' for them in my life. I consider the contract note to be evidence of my holding.

I have the original share certificate in front of me.It has the words 'ordinary share certificate' at the top with my name below.
I also have a warrant certificate

DavidHayton

Sounds like it might be an investment trust. These are companies listed on the stock market. They are not trading companies like Tesco or BP; their sole purpose is to invest in other companies in order to make a profit for their owners (i.e., you and the other shareholders in the trust)
Probably the easiest way to realise the cash would be for you to take the certificate into your bank. If it is an investment trust share certificate they would be able to (a) tell you how much it is worth and (b) let you know their charge for selling it for you. If it isn't an investment trust then the bank should be able to tell you what sort of beast it is. If you post again on this board, someone will be able to tell you where to go from there.
Usually I would not recommend using a bank at all: they are expensive! But for a one-off it is possibly worth avoiding the hassle of running around in order to get a better deal.

David

DavidHayton

Loughton_Monkey wrote: »

You do not get 'Share Certificates' for funds. You get Share Certificates (sometimes) when you invest directly in shares. I am currently invested in about 15 funds, and have never seen a 'certificate' for them in my life. I consider the contract note to be evidence of my holding.

Back in the 1990's I had several certificates of my holdings in unit trusts: Fid Special Sits, HSBC Income etc etc. Rather grand things they were too! But also a real hassle because I had to return them to the fund manager by snail mail if I wanted to sell any of my holding. In about 2000 I moved my funds to HL and have been trading them electronically ever since. Far more convenient!

David

Daz2009

DavidHayton wrote: »

Sounds like it might be an investment trust. These are companies listed on the stock market. They are not trading companies like Tesco or BP; their sole purpose is to invest in other companies in order to make a profit for their owners (i.e., you and the other shareholders in the trust)
Probably the easiest way to realise the cash would be for you to take the certificate into your bank. If it is an investment trust share certificate they would be able to (a) tell you how much it is worth and (b) let you know their charge for selling it for you. If it isn't an investment trust then the bank should be able to tell you what sort of beast it is. If you post again on this board, someone will be able to tell you where to go from there.
Usually I would not recommend using a bank at all: they are expensive! But for a one-off it is possibly worth avoiding the hassle of running around in order to get a better deal.

David

I'm pretty sure the original investment was into a unit trust but as I said earlier that original fund no longer exists as Schroder incorporated it into another similar fund which I know for sure is a unit trust.It is this trust I do not have a certificate for.

I'm probably best phoning Schroders I guess

Loughton_Monkey

Yes. 'Ordinary Share Certificate' screams out as an Investment Trust, which is an 'Ordinary Share'.

[Deleted User]

Hi,

Daz2009 wrote: »

I also have a warrant certificate

I've had investment trusts before, with warrants, I still have unit trusts, and have never had nor heard of a unit trust issueing warrants, so I would agree it's an investment trust.

Do any of these sound like the incorporated trust?

Try putting your fund into the search box, it may give you some info as to which fund it was incorporated with.