ETF Liquidated but no cash returned

I had 14 shares in AMUNDI ETF MSCI EUROPE UTILITIES UCITS ETF (FR0010688234) and trading was suspended on 23/7 and removed from listings on the 3/8.
Although the etf has been dissolved it still shows in my portfolio and has tied up several thousands of pounds of my money.
Amundi don’t answer the phone or reply to emails, T212 reckon it’s nothing to with them it’s their intermediary who deals with these issues, I asked who this was so I could contact them but was blanked.
So, before I take this up with the FCA, can anyone suggest a way forward to get my cash returned.

Your Amundi stock was held in your Trading 212 account?

Then it’s T212s issue

They are the custodian/nominee

Thanks, that is useful to know.

It was a question… but assuming your Amundi stock was held in T212… then it is categorically their issue… they need to chase down their custodian (InteractiveBrokers) to ask what the hell is happening with their reconciliations that they haven’t allocated the £xxx liquidation proceeds from these Amundi ETFs… then, if IB are not the problem, IB or T212 need to chase down Amundi’s registrars/transfer agent/paying agent (complex…depending on Amundis set-up) and track down your proceeds. It is entirely T212 and IB’s problem… you’re the disadvantaged client.

(assuming you held this stock in custody with T212 and the liquidation you mentioned actually happened)

I found this after the event btw.

Dear Sir/Madam,
(FR0010688234) Fonds Commun de Placement (French Mutual Fund – FCP, hereinafter the
“Fund”), we are writing to inform you that the management company AMUNDI ASSET
MANAGEMENT has decided to dissolve the Fund early in order to take account of changes in client
The operation was approved by the Autorité des Marchés Financiers on 10 March 2020 and will
take effect on 3 August 2020, on which date the Fund assets will be liquidated at the net asset
value calculated on that day. You will then be reimbursed for your units without any charges being
deducted by the management company.
The timetable for the liquidation will be as follows:
- Arrangements on the secondary market:
The last trading day (purchase / sale) for units in this Fund on Euronext Paris, Xetra and
the London Stock Exchange will be 23 July 2020. You will therefore be able to sell your
units through Euronext Paris, Xetra and the London Stock Exchange until 23 July 2020
inclusive. The Fund units will no longer be listed on Euronext Paris, Xetra and the London
Stock Exchange as of 24 July 2020.
- Arrangements on the primary market:
Subscription and redemption orders will no longer be accepted as of 27 July 2020 after the
cut-off time for the centralisation of Fund orders.
- From 28 July 2020 until the dissolution on 3 August 2020, the Fund assets will be sold and
the Fund will be invested in cash. The Fund will no longer replicate the performance of the
MSCI Europe Utilities index.

If you are still holding Fund units after 24 July 2020, you will be reimbursed for your units without

any action on your part and without any redemption fees being charged by the management
company, based on the net asset value calculated on 3 August 2020.
If you do not agree with these changes, you have the option of redeeming your units. Purchases
and sales on the secondary market do not incur any subscription or redemption fees. However,
placing a stock market order will trigger costs charged by your intermediary over which the
Management Company has no influence.

So liquidated to cash at NAV. Standard. So you should have received cash. You checked your transaction history?

1 Like

Zilch transactions it just sits in my portfolio doing nothing.
If I try to sell it I get pop up telling me trading is suspended.

You are right, the ETF was liquidated, tomorrow I’ll update you when you’re going to receive the cash for your holdings. :v:

I very much appreciate that Martin, look forward to hearing from you.