Amundi Prime Global >>> to MWOZ in €

MiserlyMartin

I had quite a large value of (PRIW?) Prime Global ETF in a SIPP with Freetrade. (It was a low fee world market ETF) It delisted then merged into another ETF that is not on the LSE. I had NO notification from Freetrade that the fund was going to delist or anything. The first I knew about it was that it was removed from my list of investments, then I got communications about the merger into MWOZ and that I would get 1 share of MWOZ for every old Prime Global share. So, since then the MWOZ shows but is not tradable of course. Yet the value goes up and down from time to time, just recently it dropped from 12% up to 4% down. I have had 'chats' with Freetrade and I've been told that I cannot include the fund in the SIPP valuation, but it clearly is included in the total value of the SIPP. They say that they are waiting for an update on this fund from their 'corporate actions team' but give no timeline on when this will be done. And that is the line they trot out then ask if there is anything else I want help with today!!! Are they kidding me? This is the same line they have been giving me since it merged. Is it stuck in some kind of non-tradable, non UK reporting nowhere land? That concerns me a lot! They are saying that even if I transferred the SIPP out of Freetrade, the MWOZ fund would not transfer with it! That can't be right surely?

Does anyone know about this? There must be other people who have had that fund, with Freetrade and other SIPP/ISA brokers.

Jigsaw5336

I am in the same predicament as you.  I originally purchase Prime Global via my Freetrade SIPP in August 2024.

I noticed a large drop in my portfolio value (over 6K down) which occurred on Monday past (10th Feb).  Prior to this date the stock was showing has having plus +13.33% within app, but now showing as minus -5.20%.  I had taken screenshots to prove this.

I contacted Freetrade and they said they could not see any such related shift and asked for screenshots which I provided.   The response I got was "These shares aren't tradable at the moment, as they don't trade on the London Stock Exchange, this means we do receive pricing on this stock less frequently."

They also said that they are looking into issue further with our wider team - that usually means it will be forgot about.

It is very frustrating that we cannot trade these and I suspect the stock will be in limo land for at least 6 months.

Another quirk is that my history is showing that I purchased 1,381 shares but now have 1,382 shares - maybe a result of when they converted.

MiserlyMartin

Well I'm glad that there is someone out there on MSE who knows my problem. I hope that there is nothing to worry about but the response from Freetrade has been awful and it doesn't fill you with any confidence that they have anyone there facing the customer that knows what they are talking about beyond routine enquiries.

Here's some info that I found, which explains more but this doesn't help us Freetrade customers.

https://monevator.com/etf-delisting/comment-page-1/#comment-1861154

It shows you have other brokers have handled it, giving people notice to sell. I would have rather freetrade had just sold it for me, like they did some other funds, because it is no good converting to a new fund if that fund is not tradeable