The Recent Events in the US (Updated 14th 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 have re-opened and business processing has resumed for all funds with US holdings of less than 10%. Processing for funds with US holdings in excess of 10% will re-commence following the scheduled re-opening of the US Equity Market at 14.30 BST on Monday 17th September 2001.
Valuation Requests
The full valuation service will re-commence as soon as fund prices are available.
Threadneedle ISAs, Unit Trusts and OEICs
Threadneedle are able to transact business on those funds where prices are available. Currently, this excludes funds with more than 10% exposure to US equities. It is expected that the situation will change when the scheduled re-opening of the US Equity Market occurs on Monday 17th September 2001.
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 www.threadneedle.co.uk. The website will be regularly updated to bring you the very latest position.
