Columbia Threadneedle to move EU client assets ahead of Brexit

Columbia Threadneedle Investments will launch 13 Sicav versions of Oeics ahead of the UK’s exit from the European Union as the asset manager prepares to switch EU-based investors out of its UK-domiciled range into Luxembourg-domiciled alternatives.

Columbia Threadneedle to move EU client assets ahead of Brexit


An additional seven funds from the Oeic range already have Sicav equivalents that EU investors will be transferred into.

Columbia Threadneedle chief executive for EMEA Michelle Scrimgeour said: “Our priority is to provide certainty and continuity for our clients.

“By facilitating the transfer of European customers to our existing Luxembourg range we will ensure they can continue to access our best investment strategies in a Ucits-compliant fund, regardless of the final agreement between the UK and the EU.

“For EU investors, the transfers will remove uncertainty regarding the future status of their investment in their home country.”

The transfer of assets is subject to shareholder approval and investors in impacted funds will be contacted about the changes between now and September.

The Commission de Surveillance du Secteur Financier (CSSF) and the Financial Conduct Authority (FCA) have been notified of the proposed transfers.

UK investors are expected to be able to hold Sicavs after the UK leaves the EU, regardless of the outcome of Brexit negotiations, according to a Columbia Threadneedle spokesperson.

They said clients affected represented around 2% of the company’s $485bn (£346bn) assets under management.

Impacted funds

Threadneedle Fund To Threadneedle (Lux) Fund
Threadneedle Pan European Smaller Companies Fund Threadneedle (Lux) – Pan European Smaller Companies
Threadneedle Credit Opportunities Fund Threadneedle (Lux) – Credit Opportunities
Threadneedle European High Yield Bond Fund Threadneedle (Lux) – European High Yield Bond
Threadneedle Pan European Fund Threadneedle (Lux) – Pan European Equities
Threadneedle European Corporate Bond Fund Threadneedle (Lux) – European Corporate Bond
Threadneedle Pan European Equity Dividend Fund Threadneedle (Lux) – Pan European Equity Dividend
Threadneedle European Smaller Companies Fund Threadneedle (Lux) – European Smaller Companies
Threadneedle Global Equity Income Fund Threadneedle (Lux) – Global Equity Income
Threadneedle Global Extended Alpha Fund Threadneedle (Lux) – Global Extended Alpha
Threadneedle American Smaller Companies Fund (US) Threadneedle (Lux) – American Smaller Companies
Threadneedle Global Select Fund Threadneedle (Lux) – Global Select
Threadneedle American Extended Alpha Fund Threadneedle (Lux) – American Extended Alpha
Threadneedle European Select Fund Threadneedle (Lux) – European Select
Threadneedle UK Fund Threadneedle (Lux) – UK Equities
Threadneedle American Fund Threadneedle (Lux) – American
Threadneedle American Select Fund Threadneedle (Lux) – American Select
Threadneedle UK Equity Income Fund Threadneedle (Lux) – UK Equity Income
Threadneedle UK Absolute Alpha Fund Threadneedle (Lux) – UK Absolute Alpha
Threadneedle Global Emerging Markets Equity Fund Threadneedle (Lux) – Global Emerging Market Equities
Threadneedle Asia Fund Threadneedle (Lux) – Asia



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