Columbia Threadneedle shifts EU customer assets to Luxembourg

Columbia Threadneedle Investments is to transfer its EU customer assets from its UK Oeic range to its Luxembourg Sicav platform to “reduce uncertainty” as the UK departs from the EU.

A total of 20 funds’ assets will be transferred from London to equivalent funds in Luxembourg and the firm will launch 13 new funds on its Sicav platform.

Michelle Scrimgeour, chief executive for Europe, Middle East and Africa, at Columbia Threadneedle said the company’s priority was to provide certainty and continuity for its clients.

Scrimgeour said: “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.”

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

©2018 funds europe

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