New Ireland assesses the pricing basis for all unit-linked funds on an ongoing basis and the pricing basis is adjusted as required to ensure fairness for all customers, both new and existing.
Over the last number of years, the New Ireland Property Fund (the Fund) has experienced strong inflows and has accordingly been priced on an acquisition basis to reflect the costs (e.g. stamp duty, legal fees) associated with acquiring those properties. The Fund has recently experienced outflows in line with other such funds in Ireland.
In order to ensure equity between customers who are leaving the Fund and those who remain in the Fund, New Ireland has now taken the decision to change the pricing basis of the Fund from an “acquisition basis” to a “disposal basis”. The impact of this change in pricing basis is that the value of units in the Fund will fall by approximately 7.9%. This pricing basis change will impact all redemption and acquisition requests received by New Ireland on or after Friday 6th March 2020.
For further information about this change, please click here for our Q&A document. If you have any further queries, please contact your New Ireland Broker Consultant.