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LSE:UC60 - UBS Etf UBS ETF-MSCI EMU HEDGED TO GBP A-ACC
Peter Knowles
Posted: 06 September 2017 10:10:57(UTC)
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Joined: 06/09/2017(UTC)
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Morning All,

I invested in this ETF in 2016 as it was listed in the IC Top 50 ETFS at the time.

Checking Barclays this morning and it seems like it has delisted and is now worthless.

Is this correct? Can this happen at any time with an ETF?

Cheers!
1 user thanked Peter Knowles for this post.
Bank of Grandad on 18/09/2017(UTC)
Peter Knowles
Posted: 06 September 2017 10:41:59(UTC)
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I think I can answer my own question thanks to a speedy response from UBS.

There is a new fund - LU1169820138.
2 users thanked Peter Knowles for this post.
Mickey on 06/09/2017(UTC), Bank of Grandad on 18/09/2017(UTC)
Bank of Grandad
Posted: 18 September 2017 14:12:31(UTC)
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Peter, I am also a holder of UC60. Barclays Investor transferred it to Smart Investor without a price. Smart Investor showed it as "Delisted", until today when it disappeared from my Portfolio.

I have phoned Smartinvestor and it has been referred to their "back office" by the very pleasant lady, Natasha, who I spoke to. they are investigating and will phone me back. I will let you know my findings.

What progress have you made?
Peter Knowles
Posted: 19 September 2017 08:26:15(UTC)
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Hi,

I am having the same experience as you - I spoke online with Barclays during the week and they are "looking into it.".

I also have an email from UBS Asset Management confirming that the fund was merged.

I think I will give them another 2 weeks and will then phone them to sell the holding (at their cost) and will reinvest it elsewhere.

Currently my money has disappeared.

Paul
1 user thanked Peter Knowles for this post.
Bank of Grandad on 19/09/2017(UTC)
Bank of Grandad
Posted: 19 September 2017 14:38:59(UTC)
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Hi Paul
I have also had a very prompt reply from UBS to my query both by email and phone. And I received similar info of the merger which does not appear to have been properly disseminated within Barclays.

The email from UBS explains:
"Just to reconfirm, the official route that Barclays should receive word of this corporate action is via the LSE. We (our representatives that is) of course make formal notification to the LSE and then the LSE makes the formalised announcement which then should be picked up by the likes of Barclays Stockbrokers. They then are supposed to contact all holders of the ISIN code to ensure that they are made aware of it."

For the record, these are the facts from UBS:

The ETF you held was the UBS ETF – MSCI EMU hedged to GBP UCITS ETF (GBP) A-acc. The LSE code for that was UC60. The new LSE code for the new share class for this exposure (which you now own) is:

New name: UBS ETF – MSCI EMU UCITS ETF (hedged to GBP) A-acc

LSE code: UB0E (that's a zero, not a letter 'O' in the code)

SEDOL: BF1ZBG1

ISIN: LU1169820138

This fund is now a share class tied in with the unhedged EMU ETFs. It had previously been a sub-fund. A share class is more efficient.

In conclusion, it seems our assets are safe but it is not much recompense to have the item simply disappear without apparent trace from a portfolio by those charged with its custody.

Lortag
Posted: 22 September 2017 22:27:00(UTC)
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I had the same problem - or rather a relative of mine did. She was also with Barclays. Google Finance, Yahoo finance and other data sources all showed no recent prices. I googled the etf but no info anywhere.

Searched the UBS site - no info. I phoned UBS but person I spoke to said he wasn't allowed to answer my question! I must talk to my platform provider.

I'm not with Barclays so I emailed AJBell (who also displayed no upto date prices for UC60) who answered after a couple of days to confirm the info given by Bank of Grandad.

Very strange that there was so little info available anywhere - and especially from UBS who are surely responsible for letting people know of changes..
Keith Cobby
Posted: 23 September 2017 07:34:36(UTC)
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The title of this thread puts me off. ETFs are much too complicated for me. Have a look at the annual reports, utterly indecipherable.
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Guest on 23/09/2017(UTC)
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