Cazenove UK Smaller Companies Fund

sorcerer

Their is only two days left before this fund closes, and I have still not received any notification from Hargreaves Lansdown about it, and it's actually still in my SIPP to invest in for next month. It's also still in the Wealth 150 fund. I have actually lined up a replacement, but I wanted to leave it their to see what HL do (apparently nothing yet).


I wonder if they are actually going to bother to tell anybody the fund is closing, or perhaps they will leave it to the last minute as they did with the charges.

Totton

Often when a fund soft-closes it remains available via HL. Indeed even some not so soft-closed can still be bought via HL through a telephone call.

pip895

I have noticed before that HL seems to have an inside track on soft closed funds. May be available for some time to come.

Savings_Dave

I think this fund is hard closing on 22nd January 2014, not soft closing. I don't hold this fund, which has had strong inflows, as I have already have held the Standard Life equivalent for a good few years. I think these definitions of closure are correct:

Soft close - no further new investments via lump sum, but regular monthly savings available for existing investors

Hard close - no further new investments via lump sum or regular monthly savings

I had the experience of a fund soft closing with HL. It disappeared from my monthly savings, but as an existing investor a phone call soon put it back within a few days. Its a shame when they hard close as you would either have to re-balance your portfolio periodically, or look at alternative funds in the same sector to keep balanced via monthly contributions

Totton

Update from HL - http://www.hl.co.uk/funds/fund-news-and-investment-ideas/fund-news--and--alerts/cazenove-uk-smaller-companies-fund-removal-from-wealth-150

You have until 22/01 to buy this fund.
HTH,
Mickey

Drp8713

I wondered of you could still convert to the clean version of this fund when closed. As its a conversion not a buy/sell?

sorcerer

That's weird a few hours after I mentioned it here HL put the notice up, perhaps their watching the board :-)


Anyway I'm not sure why they didn't mention this last year, and give people time to find another fund, especially if they invest monthly.

Borrowedtune

When I rang the HL SIPP desk a month ago to change my monthly investment instruction, the people there didn't even know it was happening.

Party_Animal

I was tempted to buy before it ends tomorrow. I guess at 320.97 I'd be buying at the very top though. How does closing a fund like this normally affect it? Is it normally good for the fund?

JohnRo

Not sure it's something that can be quantified because you'll never know what would have happened otherwise.

I've decided not to bother topping up on this, which is about as reliable an indicator it's set to go stratospheric as you could ever hope for...

There are other options available and given the run last year I've made the decision it's unlikely to continue at that pace for any significant length of time.