First State Global Emerging Markets Leaders fund to soft close

Mort_Gage

According to Investors Chronicle the First State Global Emerging Markets Leaders fund is to soft close to new investors as of Sept. 2013.

My wife holds this fund in her Friends Life New Generation pension at work. She purchases new units every month. Can anybody tell me what will be the effect of the soft closure upon her ? Will all future purchases (after Sept. 2013) incur the 4% front-end charge ? Or will she be considered a 'regular saver' (as mentioned in the IC article) and be unaffected ?

I will contact Friends Life to get their view but I wondered if anybody on the forum could shed light on the above.

Thanks.

dunstonh

Can anybody tell me what will be the effect of the soft closure upon her ?

Not possible to say at this time.

Will all future purchases (after Sept. 2013) incur the 4% front-end charge ?

No. Your wife is not invested in that fund. She is in a mirror fund which will have different terms applied to it. Or the fund may remain as it is for existing and be no longer available for increments.

Or will she be considered a 'regular saver' (as mentioned in the IC article) and be unaffected ?

She is not in the fund. So, that wont apply.

I will contact Friends Life to get their view

I doubt they will know yet what they are going to do as their fund is different to the main fund.