No KID/KIID documents available for the ETFs in which I would like to invest

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  • alexanderalexander
    alexanderalexander Posts: 325 Forumite
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    Thank you to everyone for the helpful replies.
    ivormonee wrote: »
    If you are really keen to invest you might want to give Lyxor a call and see what they say (Global X too for that matter). If you do, it would be interesting to find out what they tell you.
    I rang Lyxor and they said there is a UK-compliant KID available for this ETF. I checked online, and Hargreaves Lansdown does appear to have a KID on its site: http://www.hl.co.uk/shares/shares-search-results/l/lyxor-intl-asset-mngmt-etf-ftse-athex-20
    I've now emailed the platform I use (Interactive Investor) to mention this, and see if they can therefore start permitting trades of this ETF.
  • alexanderalexander
    alexanderalexander Posts: 325 Forumite
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    [FONT=Times New Roman, serif]Hello again everyone[/FONT]

    [FONT=Times New Roman, serif]I've had a reply from Interactive Investor as follows, which to my mind has only confused things further:

    [/FONT] [FONT=Times New Roman, serif]On the 2nd January 2018 a new MIFID (Markets in Financial Instruments Directive) regulation was introduction around trading ETF's and as a result we no longer offer a trading service through our platform for International ETF's.[/FONT] [FONT=Times New Roman, serif]

    This is very confusing as lots of non-UK-domiciled (and non-GBP-denominated) ETFs still seem to be tradeable on Interactive Investor! Does anyone have any idea what might be going on with them?    [/FONT]
  • aroominyork
    aroominyork Posts: 2,827 Forumite
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    alexanderalexander wrote: »
    [FONT=Times New Roman, serif]Hello again everyone[/FONT]

    [FONT=Times New Roman, serif]I've had a reply from Interactive Investor as follows, which to my mind has only confused things further:

    [/FONT] [FONT=Times New Roman, serif]On the 2nd January 2018 a new MIFID (Markets in Financial Instruments Directive) regulation was introduction around trading ETF's and as a result we no longer offer a trading service through our platform for International ETF's.[/FONT] [FONT=Times New Roman, serif]

    This is very confusing as lots of non-UK-domiciled (and non-GBP-denominated) ETFs still seem to be tradeable on Interactive Investor! Does anyone have any idea what might be going on with them?    [/FONT]
    I queried this with Interactive Investor quoting the message they sent Alexander and they said "we can hold the stock on your portfolio and you can sell if you wish, but you will not be able to purchase any further units in the stock." This is really frustrating as I want to buy more ITEQ shares. Is there a straightforward way for me to buy and hold them in the USA?
  • grey_gym_sock
    grey_gym_sock Posts: 4,508 Forumite
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    aroominyork wrote: »
    I queried this with Interactive Investor quoting the message they sent Alexander and they said "we can hold the stock on your portfolio and you can sell if you wish, but you will not be able to purchase any further units in the stock." This is really frustrating as I want to buy more ITEQ shares. Is there a straightforward way for me to buy and hold them in the USA?

    if you have, or can open, an account with a US broker, then there'd be no problem. but i think you have very little chance of opening US accounts if you have no US connection (US resident or US citizen).

    youinvest no longer allow buying the US ETF i got away with buying back in january - at least, it says it's "restricted" and i could ring them to find out more.

    i'm not sure if there are any exceptions, when using UK brokers, if you can claim to be a sophisticated / high net worth / professional investor. even if that works in theory, brokers don't have to support special handling for those categories if they don't want to.

    why not just give up? ITEQ seems like a very niche investment. i put it to you that you don't really need it. it's as expensive as an active fund. there are global technology funds available that include israeli companies. the ETF is too concentrated in a few shares. you're probably better off without it :)
  • aroominyork
    aroominyork Posts: 2,827 Forumite
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    grey_gym_sock wrote: »
    why not just give up? ITEQ seems like a very niche investment.
    Don't wanna give up! I know it's niche and I think it's a niche worth investing in. This is an interesting clip https://www.bloomberg.com/news/videos/2018-02-01/drilldown-into-iteq-israel-technology-focused-etf-video
  • nilanp
    nilanp Posts: 1 Newbie
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    Hey -

    Reading the threads - this is kinda a big deal.

    If you've opened say a Stocks and Shares ISA - and looking now (esp as US stocks are low) - to use ETFs - eg.. the VTI (vanguards all US stock tracker) or QQQ - the nasdaq tracker - as a way to get exposure to the US... you can't do it any more.

    Any thoughts on workarounds
  • londoninvestor
    londoninvestor Posts: 1,350 Forumite
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    alexanderalexander wrote: »
    This is very confusing as lots of non-UK-domiciled (and non-GBP-denominated) ETFs still seem to be tradeable on Interactive Investor! Does anyone have any idea what might be going on with them?

    At a guess, by "International ETFs" do they mean "ETFs that aren't listed on the London Stock Exchange"?

    Plenty of ETFs are domiciled outside the UK (especially in Ireland) but listed on the LSE.
  • Alexland
    Alexland Posts: 9,653 Forumite
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    nilanp wrote: »
    Reading the threads - this is kinda a big deal.

    If it was a big issue it would be mentioned here more frequently and the ETF providers would have bothered to publish compliant information. As it is UK investors can generally still access most markets via ETFs. So it's only a big issue if you have specific niche requirements.

    Alex
  • dunstonh
    dunstonh Posts: 116,371 Forumite
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    nilanp wrote: »
    Hey -

    Reading the threads - this is kinda a big deal.

    If you've opened say a Stocks and Shares ISA - and looking now (esp as US stocks are low) - to use ETFs - eg.. the VTI (vanguards all US stock tracker) or QQQ - the nasdaq tracker - as a way to get exposure to the US... you can't do it any more.

    Any thoughts on workarounds

    Stick to using EU/UK domiciled funds.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • EdSwippet
    EdSwippet Posts: 1,588 Forumite
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    nilanp wrote: »
    Any thoughts on workarounds
    Substitute Vanguard VUSA for VTI, and iShares CNDX for QQQ.
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