Email regarding Genesis emerging markets fund

Just had an email from Luke saying i’ve received an important notification regarding my investment in the Genesis Emerging market fund logged in no notification i can’t even see where in the app i go to see these messages ? is this an error has anyone else got this email ?

chat within the app isn’t working either

Not sure why the details weren’t in the email but here is some info for you

The board of the former “Genesis Emerging Market Funds” decided to fire Genesis and hire Fidelity to manage the fund. This was approved by a ~60% in favour vote. (Freetrade don’t support voting)
Changes:

  • There will be reduction in management fee from 0.9% of net asset value to 0.6%
  • The ticker is also changing to FEML
  • Genesis was more of a value investor whereas Fidelity is more Quality/Growth. Manager Nick Price has a decent track record
  • Tender offer for up to 25% of the shares in issue at a 2% discount to the prevailing NAV per share, so shareholders wishing to realise part, or potentially all, of their investment will be able to do so. (Doubt Freetrade would support this)

Tender Offer and EGM Notice:

EGM Results:

thanks for the reply within the email it says Freetrade requires a response from me by wednesday 13 october but doesn’t go into any detail about why lol

i assume its an automated email that sent to all investors they might realise their mistake and send another email with information about what they want me to confirm.

thanks again for the information

1 Like

Hi @gadget73 its easier if you can stick to the individual stock threads for this kind of thing. It’s much torture and a useful resource when looking back or having a discussion.

2 Likes

thanks for the link i’m not a regular on the forums so i didn’t even know or forgotten there would be a stock thread so thanks for the info

the lack of the online chat within the app and its still not available is the main reason i commented on the forums.

2 Likes

It’s no problem - it’s impossible to know the unwritten rules. Hopefully a drop in management costs is good for you’re investment