Fidelity platform restricts investments into Abrdn PE trust

Made restriction on 16 December in clients' 'best interests'

Valeria Martinez
clock • 1 min read

Fidelity International has restricted new investments into the Abrdn Private Equity Opportunities investment trust on its Personal Investing and Fidelity Adviser Solutions platforms.

In a notice on its website, the firm said it had made the decision "in the best interests" of its customers. However, it did not disclose the rationale behind the restriction, which was introduced on 16 December.  A Fidelity spokesperson said: "As a general rule we do not confirm the specific reasons behind decisions such as these, however these are always made with our customers' best interests in mind." Customers are able to redeem existing holdings in this fund by either selling to cash or switching to other funds, but clients will not be able to buy shares until further notice. ...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Platforms

Platform space to expand as Ascot Lloyd launches new offering

Platform space to expand as Ascot Lloyd launches new offering

Firm has partnered with SS&C Technologies for its new venture

Hope William-Smith
clock 09 March 2023 • 1 min read
Tough 2022 economy saw just four platforms book asset increases

Tough 2022 economy saw just four platforms book asset increases

Research from The Lang Cat reveals how platforms fared during 2022

Alex Sebastian
clock 09 March 2023 • 2 min read
Aegon and Fidelity top platform performance stats for last year

Aegon and Fidelity top platform performance stats for last year

True Potential the only platform to record over £1bn in Q4

Alex Sebastian
clock 09 March 2023 • 2 min read