Urban Logistics Reit Share Discussion Threads

[spectoacc] 09/6/2024 07:58

We've gone from the palava of KIIDS to this - you couldn't make it up.

[spectoacc] 08/6/2024 18:47

@Skinny - not to my knowledge, but most brokers seem to use the same assessors so it's probably coming.

TORO is one I've had restricted on several platforms, HL just last week (to be fair, it's pretty esoteric. But again - the responsibility for trading in it is my own, not HL's).

[bairstoww] 08/6/2024 15:04

This looks like the KID (Key Information Document) argument which is part of MIFID.

A year or more ago, ii had a link to the KID for any investment company you wanted to buy, and you had to tick that you'd read it. With some companies, they had no KID so you couldn't trade. When I phoned them to say I'd read the KID elsewhere (company website) they said that was no good.

I sort of found out that ii had an exclusive agreement with Morningstar for them to provide ii with company information. ii have since then resolved this. If you want to buy, you need to tick the box to say you've read the KID, and that's it. Are HL so far behind the competition? (Peter Hargreaves has been very damning in the FT and maybe elsewhere about the firm he founded.)

[skinny] 08/6/2024 10:01

Just to be clear - are any other major providers using this restrictive practice?


I've been with HL since 1984 and this is certainly making me think of moving.

[spindoctor111] 08/6/2024 09:38

'to ensure istributed in accordance with the needs, characteristics, and objectives of the target market,''

Well I am an HL customer, and they know nothing about me, my assets/liabilities, my attitude to risk and all the rest.

Are they claiming to have risk assessed every nanocap on AIM etc?

Bizarre.

[igoe104] 08/6/2024 09:21

I wouldn't let them dictate what I can't buy, id switch to AJ Bell or Interactive investor.

[skinny] 08/6/2024 07:41

Have any other "distributors" invoked this restrictive practice?

[skinny] 08/6/2024 07:38

Their reply :-

Thank you for your message.

As part of Consumer Duty, distributors such as Hargreaves Lansdown, are required by regulation to obtain sufficient, adequate, and reliable information from manufacturers about products to ensure they are distributed in accordance with the needs, characteristics, and objectives of the target market, and that distribution of the product represents fair value to our clients.

The assessment for these particular investments have not been made available to us from the 3rd party provider, therefore, we have restricted trading until they do so.

I hope this has been of assistance. If you have any further questions, please reply by secure message from your HL account or send us an email. Please note that attachments we send will only be available to view on our website and not on the HL App.

[spectoacc] 07/6/2024 15:22

Had a useless response from HL, so gave them a Skinny-style reply ;)


"These are listed companies, which I hold already - kindly reinstate dealing in them.

I have no interest in HL's, or anyone else's, assessment of them.

This appears to be the inverse of ramping clients into WIM funds based on a sweetheart deal/reduction in fees to HL."

[essentialinvestor] 07/6/2024 13:53

Another small amount.

[skinny] 07/6/2024 12:06

The more I think about this, the more incensed I become - how dare they presume to be acting in my best interests!

[skinny] 07/6/2024 11:53

Oh to be able to buy! 🙄

[essentialinvestor] 07/6/2024 11:38

Added 2 small lots today.

Fat XD shortly after the next update.

Short tetm, markets have enjoyed a nice run and summer lies ahead, may see a bit of drift.

[spindoctor111] 07/6/2024 11:04

Gee. I do expect better from HL, a 'premium, customer-focused broker'. I can still buy on cheaper platforms.

Another Hargreaves Lansdown irritation is their Junior Investment Account: "We’re sorry, this service isn’t available right now."

Off to AJBell then.

[igoe104] 07/6/2024 08:44

Whats to stop them shorting these companies they are stopping you buying. Opens up alot of loop holes. Surely you make your own decisions with a self investment platform..

[skinny] 07/6/2024 08:41

I've also emailed the company for completeness.

[e-mail]

[skinny] 07/6/2024 08:29

Snotty response sent!

[skinny] 07/6/2024 07:43

Yes, pretty pathetic - also VSL for me.

[spectoacc] 07/6/2024 07:41

Pathetic, they've done this to a couple of mine - how on earth did the rules come to this? HL happily ramped customers into Woodford, yet they want to stop purchases in SHED because they've not been given an assessment as to whether SHED are "...Achieving good outcomes and delivering value for investors"?

Guess what HL - I can make that decision for myself, it's why I have a self-select ISA.

[scruff1] 06/6/2024 19:17

Me too. I hold this outside my ISA and am going to transfer it in. Interestingly I was going to do this this am as I thought there may be an opportunity arising especially as the ex div date is appproaching. I would imagine someone is getting a kicking so wouldnt expect it to take too long. Will it just be HL? Seems pretty inefficient on their part to me if so.

[stevesham] 06/6/2024 18:56

Interestingly HL have restricted me buying more, anyone else had the same

Authorised fund managers are required to provide an annual fair price and value assessment for each of their investment funds.

We need assurance that this assessment has been completed to ensure the investments we offer are achieving good outcomes and delivering value for investors. We collect this from third-party providers.

The assessment for Urban Logistics REIT plc Ordinary 1p has not been made available to us from the third-party provider for the required period and so we’re removing the option to buy any more of the investment until it’s been received.

What this means for you

This means you can continue to hold it and sell at any time, but you’re currently unable to buy any more of the investment through us.

If, however, you have an existing income reinvestment or regular saving instruction into the investment, it will currently continue.

What happens next

We’re continuing to actively monitor this and will look to reopen the investment for investors to buy, if appropriate, when this information is made available to us. We’ll provide an update on the purchase status of your investment as soon as we can, but can’t guarantee at this stage when this will be.

[gbcol] 06/6/2024 14:35

Eurozone started cutting rates today. UK will no doubt follow before too long (probably Aug, very small chance for this month). The yields here and hopefully across REITs generally will start to look more attractive again. That will obviously help, plus results are coming up in a couple of weeks.

[essentialinvestor] 06/6/2024 14:15

I was about to post..SHED ooks as if
it's breaking out of the current range, but Down again we go.


Big resistance around current levels it appears.

[essentialinvestor] 04/6/2024 15:21

Bought a few EBOX today at .606.

Will add to SHED lower, if available.