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Columbia Threadneedle Multi-Sector Bond Fund Closure

Columbia Threadneedle have announced that they are closing the CT Multi-Sector Bond Fund on 24th April 2024.

Columbia Threadneedle believe that it is in the best interest of investors to close the fund due to the fact that it has been experiencing a continuing decline in assets which would negatively impact the performance of the fund along with the costs of operating it.

The Fund will stop dealing in shares from 12:01pm on the 23rd April 2024 and the Fund will be closed on 24th April 2024. The last regular savings collection will be 8th April 2024.

There are three options for investors in the fund:

  • Option 1 is to switch into a new fund, however please note that this option is available to investors at any time up to 12 noon on 23rd April 2024. A fund switch will retain the ISA wrapper for investors who hold the fund in an ISA. Holdings outside of the ISA may be deemed a disposal of shares for Capital Gains Tax purposes and there may be tax implications however they will depend on individual circumstances.
  • Option 2 is to sell the shares in the fund prior to the closure. There is no transaction charge to sell investments however please note that any funds held in an ISA will lose the ISA status once sold.
  • Option 3 relates to a scenario where no action is taken. In this case, Columbia Threadneedle will automatically sell the shares and send the proceeds to investors. Please note that ISA holdings will lose the ISA wrapper and non-ISA holdings may be subject to Capital Gains Tax.

If this is something that may interest you, please get in touch.

- uploaded - 13 March 2024

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Elson Associates does not offer advice as to the suitability of investments. If you are unsure whether an investment is suitable for you, you should obtain expert advice. Past performance of an investment is not necessarily a guide to its performance in the future. The value of investments or income from them may go down as well as up. You may not necessarily get back the amount you invested.

Please remember that tax advantages of ISAs may be subject to future statutory change. Eligibility to invest in an ISA and the value of tax savings will depend on individual circumstances.

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