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S&S ISA with pension style fund switch capabilities (stay in market)
cing0
Posts: 431 Forumite
Are there any S&S ISA providers that allow investors the ability to switch between funds (supermarket) without having to liquidate them first?
Also, looking for a provider that allows switching same day if orders are placed before the valuation cut off of mid day.
Have ruled out:
RBS share dealing (TDW)
HL
Also, looking for a provider that allows switching same day if orders are placed before the valuation cut off of mid day.
Have ruled out:
RBS share dealing (TDW)
HL
0
Comments
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Isn't the problem - and I'm no expert, so I'm genuinely querying this - that ISA 'rules' don't permit 'cash'/'investments' in the same account in normal circumstances?
This is obviously one for dunstonh to answer. I await HMV.....under construction.... COVID is a [discontinued] scam0 -
Sorry for late reply, in answer to your question No.
The reason is within a stocks and shares ISA you are trading the direct unit trust/OEIC fund, so in order for switches to take place then the supermarket needs to place it on a day1/day 2 basis
DAY 1- switch placed to sell
DAY2- Buy units within the new fund, can only do this once proceeds are raised from the day 1 sale.
Pension (insured funds) are different as they price based on a previous days underlying UT/OEIC price e.g L&G Invesco Perp Income , so its possible for a switch to take place same day as its completely different. Sorry!!0
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