I’ve received an email from InvestEngine on August 3rd informing me of the EPRE ETF’s removal from the London Stock Exchange. Since then, my holdings in the fund appear on a separate portfolio named “Delisted Holdings” and the app does not allow me to sell them.
InvestEngine’s support has advised I check Amundi’s website to get more information. This is not helpful as the EPRE fund does not appear on their website anymore. I found an article from July 3rd announcing the fund would be delisted on July 5th (Amundi delists 10 ETFs from London Stock Exchange on low demand) . InvestEngine’s email only came on August 3rd.
I fail to see how contacting Amundi would help since I am restricted to the InvestEngine ecosystem to buy/sell my holdings either way.
Has anyone here been affected by this particular delisting or a previous similar situation? What are my options to retrieve my money?
Hi @francelico , I can assure you the team is working behind the scenes to ensure the best possible course of action that would be in our clients’ best interest. I notice you have emailed and have been responded to by our support team…
Hi @francelico, I opened a ticket with InvestEngine after they emailed me on 3rd August but I’ve seen no progress or plan of action since then despite my chasing in September and earlier this month…
Are you in the same position?
Hi @kit , I am in the same situation as you. I’ve chased them up multiple time but InvestEngine has failed to take any accountability for the situation so far. They have been vague about whether the failure to communicate the delisting ahead of time came from them or from Amundi.
I haven’t sought legal advice about this (yet), but I believe whichever of InvestEngine/Amundi screwed up could be in for it for not communicating/passing through key information to asset holders. It would explain why it’s been so hard to even get an acknowledgement of what exactly happened there.
I use this username on other channels, such as Github, so it shouldn’t be too hard to find my contact if you’d like to discuss the matter privately. I’m saying this now in the low chance Investengine goes into full corporate damage control and ends up locking/deleting this thread in the future. I do hope it doesn’t come to this.
I switched from Vanguard as I thought I would like having more flexibility for my portfolio, and I’m bitterly regretting this decision. I don’t even think I can switch my ISA back to Vanguard given that part of my investment is now stuck in limbo.
As someone considering moving my ISA & pension to InvestEngine, is your experience thus that funds can simply be delisted and you potentially lose any of the money invested in that fund?
That is shocking if so.
Any company, for instance ARM Holdings Arm Holdings - Wikipedia, or ETF, for instance Vanguard UK Vanguard to close European active ETF range, or fund can make a decision about on which stock exchanges it is listed on and whether to continue offering a certain ETF in a certain country / region. There are usually considerations about laws, money inflows/outflows and other aspects at play.
However, as it is all regulated by law - they cannot just close it in the middle of the night, change their names and disappear. It usually is a lengthy process to delist / transfer a listing elsewhere.
But, if you’re still holding shares in an unlisted ETF which continues to trade abroad then it is very difficult to sell your shares and get your money out.
Vanguard article is dated 03/12/2020
Regarding your transfer question - this can happen regardless of where your portfolio is - whether it be in IE or AJ Bell or HL.
Hi Jack et al, investing carries risk - unfortunately that includes risk of ETFs closing.
To reduce the risk, be wary of: niche funds; funds that are small in value; funds that have only existed for a short time; funds that don’t have significant trading volume. Look on somewhere like Morningstar or London Stock Exchange websites to see the stats.
As an investor, you should be informed in the weeks before a fund closes, and can sell it quickly then. The prior comments imply the notification is not reliable though; and it may not sell fast, as everyone will be doing likewise.
Sticking to large, core funds gives the best chance of getting your money back out when you want it, with reasonable spreads and charges.
I also held a Delisted holding by Amundi in the Lyxor MSCI Turkey ETF. This was subsequently removed from my DIY portfolio to be held as a separate holding. I was notified by InvestEngine support team at the time and that I would be further informed and advised when they would be able to resolve selling the shares in this ETF. I’ve now been updated in the past week and the shares have been sold. As a new investor who thought he had understood the risks of investments in relation to ETF’s as far as I could reasonably ascertain. This did not include a complete appreciation of delisting, the various reasons for delisting, and the subsequent effect of holding a delisted ETF asset in your portfolio.
Something I’m now fully aware of although in hindsight I had underestimated the possibility of funds closing and any investment in that asset being unavailable for my portfolio until a time the shares were able to be sold.