Picton Property Income (PCTN)

[langley59]

This is a commercial property investment I am holding for the long term for the yield and which I occasionally top up. I have just received a message from my broker, Hargreaves Lansdown, stating that "new regulations from 1st January 2018 require that issuers of certain types of investments (known as ‘Packaged Retail Investment and Insurance Products’ or ‘PRIIPs’) must issue a Key Information Document (or KID) if they are available to private investors. Without a KID, private investors will not be able to make any further purchases, although they can continue to hold the PRIIPs they already own. They can also sell at any stage. The issuer of Picton Property Income Limited Ord NPV have not confirmed that they intend to publish a KID. This means that from 1 January 2018 you may not be able to buy any more of this stock."

I presume that issuing a KID is a formality and there must be some communication issue between PCTN and the brokers and it will get sorted out before Jan 1st. At least I hope so.

Anyhow a heads up for others who may hold this.

[langley59]

Repeating what I mentioned on this topic in the Investment and Unit Trusts forum Hargreaves have now advised me that Picton have now produced their KID.

[Laughton]

worth watching - https://citywire.co.uk/investment-trust ... ider+Daily