Hendersons is offering retail investors in the Henderson Technology Trust a free switch into other fu...
This follows the transfer of the management contract of the trust to niche boutique Polar Capital Partners on 9 February this year. As a result of this the trust will no longer be eligible for the Hendersons investment trust share plan, Pep or Isa.
Investors can move their holdings into the Polar Capital Technology Trust Isa, transfer to the Henderson Global Technology Oeic or Isa, switch into another Henderson-managed investment trust, or sell their holding and receive cash.
Investors who have held the trust through the share plan will also have the option of receiving a share or warrant certificate in their own name to continue holding the shares, without incurring any potential capital gains tax liabilities.
If investors do decide to choose to stay in the Henderson Investment Trust shareplan or transfer to Polar Capital, they need to cancel their current direct debits and then open a new one with the correct party.
A spokesman for Hendersons said that investors do still have time to cancel their debit for March. A special investor help line has been set up on 0800 0964292.
Reminder letters are in the process of being sent out by Hendersons to IFAs and clients along with all the options available.
If investors decide they are going to switch holdings to the Polar Cap Technology Trust, they need to write a letter to Hendersons by 9 April.
This story was first published by Investment Week.