DEGIRO no longer allowing to buy uk trusts

This is our UK Investment Trust Portfolio vs the FTSE All World Index for the last few years. Although we now generally use non-EU ETFs for our clients, its interesting to note that a more expensive portfolio of actively managed trusts with a dollop of gearing have actually performed reasonably well over the last few years.


Happy to try to accommodate anyone who’s been cut off as we predicted would be the case by Brexit.


The United Kingdom left the European Union on January 1, 2021, which will result in various changes to investment funds domiciled and managed in the United Kingdom (i.e. funds with GB-ISIN). This means that the affected funds will lose their distribution status which will certainly have far-reaching effects on their access by EU investors.

For the moment and as far as we can tell, the following areas will be affected by said changes:

1) Country registrations
Many of the funds with GB-ISIN also previously held a distribution registration for countries outside the UK. However, in most instances, the general country registrations of these funds will remain for the UK only, and the EU distribution authorizations will lapse.

2) Information and documentation
As a result of the changes to country registrations, many of the fund companies whose products are affected will cease producing and distributing information and documentation for countries outside the UK. This includes performance data, KIIDs (Key Investor Information Documents), factsheets etc.

3) Change of MiFID II status
As a consequence of the reclassification, investment firms may in future classify the impacted funds as complex investment products. This means that, unless they already have it, a one-off ‘Appropriateness Test’ will be required from the client upon first purchase.

4) Existing holdings
Currently, it does not appear that the relevant fund companies will force investors with existing holdings to switch or sell their shares, but the restrictions mentioned under 2) must still be borne in mind.


Marc Westlake
Chartered Certified and European Financial Planner
www.globalwealth.ie
 
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As noted earlier in this thread, there is no regulatory reason why Degiro cannot make ITs available to Irish investors.

Brexit has not changed this position (despite what others might suggest).
 
I'm not sure what to make of Degiro lately. Is anyone else having problems with their portfolio share prices? They're not always correct and at 'end of day' I have to do my own calculations. A classic example for me at the moment is one particular company on the ISE that hasn't been correct for over a week now. I emailed them last Thursday and no response so far.
I didn't think this was worth starting a new thread over but if you think I'm hijacking this one I will. :)
 
I presume that the Irish company had some transactions over the week?

As they do not seem to have real-time access to prices on the ISE exchange, or rather the Euronext/Dublin exchange, (for cost reasons, I presume) they use an end of day feed to update prices.

The large number of bank holidays over the last week or two in Europe may have disrupted the normal flow of price data.
 
jpd said:
I presume that the Irish company had some transactions over the week?
Click to expand...

Yes it did

jpd said:
As they do not seem to have real-time access to prices on the ISE exchange, or rather the Euronext/Dublin exchange, (for cost reasons, I presume) they use an end of day feed to update prices.
Click to expand...

There are a few companies in my portfolio that have 'end of day' prices updates - mostly Irish and Canadian. Well used to that and not an issue.

jpd said:
The large number of bank holidays over the last week or two in Europe may have disrupted the normal flow of price data.
Click to expand...

It's been 6 business days so I wondered is it just me or are others having similar issues?

I do like Degiro but I don't like issues like this as, although small, they will eventually get up my nose.
 
Degiros ears must have been burning because I just got an email saying they'd pass the "request" on to their IT dept.
 
There is probably a long chain of different systems involved in getting the prices from Euronext/Dublin to the Degiro platform so IT problems are bound to happen every now and again
 
City of London, and finsbury growth and income, and Bankers investment trust still not available to buy on degiro ?
I wonder what the criteria is, a bit disappoint about that
 
joe sod said:
City of London, and finsbury growth and income, and Bankers investment trust still not available to buy on degiro ?
I wonder what the criteria is, a bit disappoint about that
Click to expand...
No idea, would be great to know. I wonder if anyone has noticed any more returning?
 
They do seem to be gradually returning. Available now are

Keystone Positive Change Investment Trust (KPC)
Schroder Oriental Income Fund (SOI)
F&C INVESTMENT TRUST (FCIT)
JPMorgan Global Growth & Income (JGGI)
Aberdeen Emerging Markets Investment Company (AEMC)
BMO Managed Portfolio Growth (BMPG)
Edinburgh Worldwide Investment Trust (EWI)
 
AJAM said:
They do seem to be gradually returning. Available now are

Keystone Positive Change Investment Trust (KPC)
Schroder Oriental Income Fund (SOI)
F&C INVESTMENT TRUST (FCIT)
JPMorgan Global Growth & Income (JGGI)
Aberdeen Emerging Markets Investment Company (AEMC)
BMO Managed Portfolio Growth (BMPG)
Edinburgh Worldwide Investment Trust (EWI)
Click to expand...

Thanks - hopefully they keep coming back!
 
I have been buying modest amounts of FCIT each month for the past year on De Giro. I tried again today but its not available. I got the following message - 'Unfortunately this product is not available for trading. This could be due to regulatory reasons, your current trading settings or an internal decision.'

Can anyone explain what is happening?
 
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