Hi all, I’ve seen from this forum that changes have happened to the Lyxor EuroStoxx 50 (MSED). I would have though that InvestEngine should have contacted there clients and explained why the number of shares held in a fund has drastically changed and why the TER has more than doubled (from 0.07% to 0.15%). Why such poor communication?
I can understand why you are frustrated, but is it actually IE you should be frustrated with? From the forum thread I think you refer (Lyxor EuroStoxx 50 (MSED) ETF Price) it seems IE didn’t get given notice of the change, but once aware they did give the link to the notice from Amundi which states that the TER will be that of the receiving fund (although Amundi didn’t state that figure was 0.15% and over double that of the transferring fund!). Also in that notice Amundi gave the (bland) reason for the change “As part of the ongoing review of the product range competitiveness and client interest assessment”. So I’d be frustrated if my TER doubled, but that’s surely down to Amundi?
Hi P.H, I get that IE may have had short notice, but this issue was raised nearly a fortnight ago on this forum by another member. In that time IE never alerted holders of this fund, even just to alleviate any worry when people saw their fund half in value! Seems to me that’s a reasonable communication expectation.
I was thinking that IE had alerted users by virtue of their posts on the forum thread, but maybe this doesn’t give sufficient targeting or coverage. Perhaps IE could add a news type section linked to the fund in the App; and for important updates could alert in a similar way as they do when dividends are paid.