Lost distribution

Investor1986

I hold an OEIC fund through a 'fund platform'. A dividend/distribution payment from the Company that manages the OEIC to the fund platform has gone missing due to a claimed error in an account number in the payment system between OEIC manager and fund platform. As a consequence the fund platform has not passed on the payment to myself, claiming that it is an error 'outside their control'. What is the legal situation? Does the fund platform have an obligation to pay the equivalent of the distribution to myself or is it indeed 'out of their control'

Thanks

Thrugelmir

If they haven't received the funds then the matter is outside their control.

xylophone

Your relationship is with the platform manager rather than the OEIC manager so it is up to the platform to sort out the error?

I take it that the distribution is paid by the OEIC manager to an account held in the name of the platform which passes it on to you?

Therefore the error has nothing whatsoever to do with any action of yours?

Write to the platform manager and if you get no satisfaction complain to the FOS.