Lost PEP

Malthusian · 20 June 2024 at 9:33AM

Snb said:

I have forwarded all this info the financial ombudsman hoping they can help

They will not be able to help unless you have made a formal complaint to Invesco, and Invesco have issued their final response, or failed to do so within 8 weeks of the complaint.

it is a contract note that states 4595.76 units @133.510 perpetual pep growth fund. i have a client acc number, certificate number, deal reference. just had an email back from Invesco saying they cannot find any information and due to the historic nature of the data and GDPR were no longer able to provide any details.

You can ignore the speculation about investment trusts as the fractional shareholding confirms this was a unit trust / OEIC.

As far as I can tell this fund eventually became Invesco EQV International Equity. See this 2005 Telegraph article:

Much of that is in Invesco's International Equity fund, which has £1.4billion under management. "It has a UK bias, but is very international," she says. "People may know it as the old Perpetual growth fund, which is run by a team of regional specialists, whom I represent, and very loosely head up."

The Invesco International Equity Fund in turn appears to have been merged into Invesco EQV International Equity in 2023, which is an offshore fund. The literature suggests it's targeted at non-UK investors (note the US-specific regulatory language), so I'm sceptical that a UK investor in the old Perpetual Growth fund would have ended up in it rather than being merged into something else.

As a further attempt to shake the details out of Invesco, you could try a Subject Access Request asking for all personal data they hold on you under your name, date of birth and National Insurance Number. (As PEPs are a tax-advantaged wrapper they would have asked for your National Insurance number in the application.) If they come back to say they have no data on you, then you're in the same position. There's a possibility, albeit remote, that a Subject Access Request may prompt them to go back in their archive and turn something up (even if it's the transaction record of it being sold / transferred) whereas a phone call didn't.

If they did still hold some old data on you and didn't dig it out and forward it to you, they would be breaking the law. So if you make a Subject Access Request and they tell you there's nothing there, you can assume there's nothing there.

If you have no evidence these funds still exist and Invesco has no evidence these funds still exist, the simplest explanation is that you sold or transferred it decades ago and have forgotten.