The Recent Events in the US (Updated 13th September 2001)
Following the recent events in the United States and the effect on world stock, bond and currency markets, in common with most other financial institutions, the processing of unit prices was temporarily suspended on 12th September. With the exception of the United States, equity markets are today open and it is anticipated that business processing will resume from today for all funds with US holdings of less than 10%. Processing for funds with US holdings in excess of 10% will re-commence as soon as is feasibly possible and regular updates will be posted here.
Valuation Requests
Fund valuations will recommence as soon as fund prices are available. For the funds outlined above it is anticipated that valuations will be available from Friday morning.
Threadneedle ISAs, Unit Trusts and OEICs
Threadneedle are able to sell those funds where prices are available. New sales and switches of Unit Trusts and OEICs into those funds whose prices are available are unaffected. However, where prices are unavailable or the entire deal cannot be processed, applications will be returned. We expect this position to change and improve in the near future.
Important to take a long-term view
Equity markets in the UK and Europe have already reacted in a volatile manner in response to events in the US, while the US market remains closed. A look back at how markets have responded to past tragedies and military action shows that although valuations initially fell they returned to previous levels when markets subsequently rebounded. Those investors who have made money in the long term have done so by riding out the downturns in equity markets and taking a long-term view of their investments. Stocks and shares, along with life and pension policies should always be considered as long-term investments for the future.
Additional Information
For additional information please refer to http://www.threadneedle.co.uk/. The website will be regularly updated to bring you the very latest position.
