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RLGES Hard Closed
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Peter61
Posted: 12 September 2023 17:01:54(UTC)
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Royal London Global Equity Select has been hard closed because RL think it's reached the maximum viable size (£900M).

Pete
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4 users thanked Peter61 for this post.
Jesse M on 12/09/2023(UTC), J-san on 12/09/2023(UTC), Raj K on 14/09/2023(UTC), dlp6666 on 18/09/2023(UTC)
wydffart
Posted: 12 September 2023 18:03:06(UTC)
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Joined: 02/12/2012(UTC)
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I thought they were going to give 60 days notice. Is 7.5% of my PF. Shame, I was planning to add.




edit: link to letter:
https://www.rlam.com/glo...d---limited-issuance.pdf
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Jesse M on 12/09/2023(UTC)
Jesse M
Posted: 12 September 2023 19:14:03(UTC)
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I suppose for existing holders that is good news, rather than thinking pf pocketing the ever increasing fees with AUM (are you there Terry Smith?) They are actually running for benefit of existing investors and the funds ability to deliver. Still a shame would have like a bit extra in, although it is already my largest holding (13.5%) after a tracker so I'm not disappointed.

Edit: I see on their website this is the case but not received any notification yet from ii regarding my monthly drip, I wonder if the limited share issuance will extend to existing regular investors
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Raj K on 14/09/2023(UTC), dlp6666 on 18/09/2023(UTC)
Peter61
Posted: 12 September 2023 20:08:03(UTC)
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The corporate action notification I received on AJ Bell states "Whilst the closure remains in effect, Royal London Unit Trust Managers Limited is no longer accepting investments into the fund."

The notification also states that the fund will be hard closed from 11 Sept 2023. If they were accepting further investments from existing holders, I think that would be a soft closure?

Pete
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Thrugelmir on 12/09/2023(UTC), Jesse M on 13/09/2023(UTC)
Stefan Kwas
Posted: 13 September 2023 06:10:08(UTC)
#5

Joined: 05/01/2021(UTC)
Posts: 13
A real shame. I also was expecting 60days notice to enable me to top up my holding.

Can anyone recommend a similar Global, Blend fund?
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Chas Hammond
Posted: 13 September 2023 07:46:57(UTC)
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Joined: 13/09/2023(UTC)
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Hi

Since RLAM were appointed as the fund managers a year ago the ‘Quilter Global Unconstrained Fund’ now exactly mirrors it, but it’s slightly more expensive.
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Harry Trout on 24/11/2023(UTC)
Nigel Meek
Posted: 13 September 2023 14:22:47(UTC)
#10

Joined: 14/05/2010(UTC)
Posts: 34
I was very fortunate to get 55k into this three months or so ago after reading about it on these forums. Done well so far. Generally steer clear of OEICs preferring ITs, but this one is a keeper for sure. In my Hold and Forget portfolio. Was going to add more, but mustn't be greedy I suppose.
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ACG
Posted: 13 September 2023 15:45:43(UTC)
#11

Joined: 17/04/2020(UTC)
Posts: 1
Very disappointed with HL, as I have a small holding in a couple of accounts and was looking to top up soon.
Not advised of this closure by HL.
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Jay Mi
Posted: 13 September 2023 18:59:45(UTC)
#14

Joined: 11/03/2017(UTC)
Posts: 169
Put some money in it at the start of the month. Times it right for once… maybe, hopefully. Fingers crossed.
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Bob Macondale
Posted: 14 September 2023 15:55:23(UTC)
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The Royal London Global Equity Income fund follows a similar methodology to the Global Equity Select fund and with a lot of cross over in holdings albeit with an income slant as the title suggests. Performance not as good as Global Select, but still pretty good in my book and worth a look.
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3 users thanked Bob Macondale for this post.
J Thomas on 14/09/2023(UTC), Jeff Liddiard on 16/09/2023(UTC), dlp6666 on 18/09/2023(UTC)
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