Close Special Situations

stringer_bell

Hi All

I held this in my ISA, it has been closed for a while but today I have received funds. I had over £1000 in that when it closed, and I have been awarded £94.81. If this is correct, where has my money gone?

surely this cant be right?

" Your account has been credited with 7.8774 pence in exchange for
each unit held in Close Special Situations fund Acc. This distribution
represents the final payment due to unit holders"

Totton

Probably best to give them a call, their website states - Following our communications about the closure of the fund, if you are an existing unit holder and you have any further questions, please contact your financial adviser or call us on 0870 606 6402.

stringer_bell

Totton wrote: »

Probably best to give them a call, their website states - Following our communications about the closure of the fund, if you are an existing unit holder and you have any further questions, please contact your financial adviser or call us on 0870 606 6402.

they replied

" Thank you for your message dated 23 June 2014.

I can confirm your account has been credited with 7.8774 pence in exchange for each unit held in Close Special Situations fund Acc. This distribution represents the final payment due to unit holders"

so basically they took the £1000+ I had with them and gave me £93 and kept the other £900? not sure how funds work but surely this isn't right

CLOSE SPECIAL SITUATIONS A ACC 968.125200 - £76.25

jimjames

That says final payment. Has there also been an interim that you've forgotten about or been missed?

vectistim

If you look here: http://www.closebrothersam.com/upload/NOV%2013%20Special%20Situations%20-%20Long%20Report.PDF

It seems there was a special dividend of about 70% of the value (see p. 15) in August last year.
What you have just received is the last bit before the fund completely ceases to be.
I guess there might have been another one in between then and now.

stringer_bell

vectistim wrote: »

If you look here: http://www.closebrothersam.com/upload/NOV%2013%20Special%20Situations%20-%20Long%20Report.PDF

It seems there was a special dividend of about 70% of the value (see p. 15) in August last year.
What you have just received is the last bit before the fund completely ceases to be.
I guess there might have been another one in between then and now.

your totally right, I didn't notice. I got the dividend 968.125200 - £1279.57 last year, it happened the day I sold some other funds, so I got muddled up. close thread