Regarding the Silicon Valley Bank (SVB) situation

Our News
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We have been monitoring the developments surrounding Silicon Valley Bank (SVB) and we’re aware that some of you may be wondering if InvestEngine or its accounts will be affected by the news.

The short answer is that we do not see the situation having any direct impact on InvestEngine or its accounts, as we’re in no way affiliated with the bank.

The news broke yesterday morning that HSBC has struck a deal to buy SVB’s UK operations, protecting a large number of British tech startups from losses.

While this is positive news, the broader situation will not affect InvestEngine directly as we are not partnered or associated with SVB in any way. This includes no investments, lending or other funding.

Your funds with InvestEngine are held with Natwest and protected under FSCS, while your assets are held with CREST.

We will naturally continue to monitor the situation and its wider impact on financial markets insofar as it may affect our discretionary product. In terms of direct implications for InvestEngine as a business and the security of its assets, however, we want to take the opportunity to reassure our community.

Of course, if you have any questions regarding the situation and the protection in place on our accounts, please feel free to get in a touch with a member of our client support team; they’ll be happy to help.

4 Likes
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Very helpful and reassuring, thank you!

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Great to have the reassurance; thank you. Going off on a tangent though, some (many?) of us will have been affected if we have bought ETFs tracking an index that includes SVB Financial Group as a constituent. A number of major indices have SVB (or had it at the time of SVB being placed into receivership):

  • S&P 500
  • FTSE Developed World
  • MSCI World
  • FTSE All World

… not to mention other more specialised North America or financial sector ETFs.

Oh well, diversification is like that.