Question
I recently asked a question about a Skandia Capital and Income Bond which you answered in simple and understandable laguage for which I thank you. Posted on the your site at the same time was a question concerning a forthcoming fund launch for Aberdeen Latin American Equity for which you gave a quite favourable review. Having recently returned from South America I decided to instruct my IFA to switch funds within the Skandia Bond to hold some of the aforementioned Aberdeen LAE stock.
The IFA forwarded the necessary paperwork to document and affect the switch which was duly signed and returned.
To my dismay I have just received the current allocation list direct from Skandia to discover that my instructions were not carried out. My IFA latterly informing me that the Aberdeen LAE Fund could not be accessed as it was not available as mirror structured holding. This explanation I find to be perplexing as I already hold within the Skandia CAB a percentage of Aberdeen Emerging Markets stock.
Would it be possible to shed some light here?Answer
I'm afraid the answer is very simple, Skandia doesn't currently offer the Aberdeen Latin America fund within its investment bonds (or ISAs and pensions). Your financial adviser really should have spotted this before sending you a form to switch, but I suppose mistakes do sometimes happen.
As it's a recent fund launch Skandia might feature Aberdeen Latin American Equity in future, but if you want to invest in the region meanwhile within your bond then your options are limited to Invesco Perpetual Latin American Growth and Threadneedle Latin America. Invesco Perpetual's fund is probably the better of the two, but I wouldn't rate the management team as highly as Aberdeen's.
Bear in mind Aberdeen Emerging Markets is around 30% invested in Latin America at the moment, so you do already have some exposure to the region.
I recently asked a question about a Skandia Capital and Income Bond which you answered in simple and understandable laguage for which I thank you. Posted on the your site at the same time was a question concerning a forthcoming fund launch for Aberdeen Latin American Equity for which you gave a quite favourable review. Having recently returned from South America I decided to instruct my IFA to switch funds within the Skandia Bond to hold some of the aforementioned Aberdeen LAE stock.
The IFA forwarded the necessary paperwork to document and affect the switch which was duly signed and returned.
To my dismay I have just received the current allocation list direct from Skandia to discover that my instructions were not carried out. My IFA latterly informing me that the Aberdeen LAE Fund could not be accessed as it was not available as mirror structured holding. This explanation I find to be perplexing as I already hold within the Skandia CAB a percentage of Aberdeen Emerging Markets stock.
Would it be possible to shed some light here?Answer
I'm afraid the answer is very simple, Skandia doesn't currently offer the Aberdeen Latin America fund within its investment bonds (or ISAs and pensions). Your financial adviser really should have spotted this before sending you a form to switch, but I suppose mistakes do sometimes happen.
As it's a recent fund launch Skandia might feature Aberdeen Latin American Equity in future, but if you want to invest in the region meanwhile within your bond then your options are limited to Invesco Perpetual Latin American Growth and Threadneedle Latin America. Invesco Perpetual's fund is probably the better of the two, but I wouldn't rate the management team as highly as Aberdeen's.
Bear in mind Aberdeen Emerging Markets is around 30% invested in Latin America at the moment, so you do already have some exposure to the region.
Read this Q and A at http://www.candidmoney.com/questions/question401.aspx
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