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.
A spokesperson for Columbia Threadneedle said clients affected represented around 2% of the company’s $485bn (£346bn, €409bn) 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 |
