Daria complained when the business switched the pricing basis of a fund. In the circumstances we found they were entitled to do so.
Daria was an experienced investor with a large and diverse portfolio who invested £20,000 in a property fund. A few months later, the business wrote to her to say that the fund was switching to an outflow pricing basis. Daria complained.
How we helped
After scrutinising the evidence, we were satisfied that the business had told Daria at the point of sale about the risk of the fund changing its pricing basis. Her circumstances didn’t mean that she was relying on the proceeds from selling the fund or was particularly sensitive to a sudden reduction in its value.
Putting things right
We decided that the fund was suitable for Daria.
Related case studies
Customer surprised to be unable to withdraw funds
Customer finds out too late deferral period was in place