My mother died in August, and lodged with Lloyds (the family bank for many years) was an envelope containing a Lloyds Bank First Unit Trust Accumulation Unit Certificate dated 1967 for 420 units. As the executor for my mother’s estate I am trying to track down the value of these unit trusts. The Lloyds branch where the envelope was lodged has not been very helpful. I have also contacted the investment management authority, which traced the unit trust until 2000 and suggested I call Lloyds – to no avail. CL, London
The bank could have been a little more energetic with your inquiry, since it takes Lloyd’s press office a matter of minutes to discover that the units became known as Scottish Widows Unit Trusts following the Lloyds TSB’s acquisition of Scottish Widows. In 2002 there was a merger and conversion of all unit trusts to open-ended investment companies (Oeics). Customers subsequently received shares in an Oeics sub-fund equivalent in value to the units they had held.
The 840.000 units held by your parents became 12,050.177 UK Growth Shareclass B accumulation shares in 2002. The investment was surrendered on 2 July 2014 realising £19,822.54 and the proceeds were paid via Bacs to your mother’s Lloyds Bank account. It therefore appears that the Lloyds Bank First Unit Trust Accumulation Unit Certificate is a defunct one.
If you need help email Anna Tims at your.problems@observer.co.uk or write to Your Problems, The Observer, Kings Place, 90 York Way, London N1 9GU. Include an address and phone number.
