Legal and General online site (switching funds)

afc80

I am trying to switch funds from a Pacific Growth Trust to a Global
Emerging Markets Index Fund.

Message appearing is

When completing your switch your percentages must equal 100% of fund selected for switching.

I have been either putting in 100 per cent or the full cash amount

When i put in the full cash amount message appearing is

When completing your switch your amount must equal the full amount of the fund selected for switching.

anyone had any problems with the L & G site when transferring? or can anyone shed any light on what i am doing wrong (if i am doing something wrong).

Very frustrating........

Loughton_Monkey

I don't deal with L&G but it's obvious what's going wrong. When switching, you cannot possibly specify the £ amount.

You (and they) can never know the price at which your current fund units will sell for. Yes, they know ballpark £8,000 but could drop to £7,500 on a 'forward price' basis. So how can you specify to buy £7,900 of fund X?

When switching totally, you must specify 100% sell and 100% buy. Otherwise, sell 100% of fund X, and wait until the forward price to see that you got precicely £7,891.43 - and only then can you buy £7,891.43 (or less) of fund Y.

afc80

Thanks for your reply. As part of the switch funds procedure this message appears in one of the steps.

Switch funds: Step 4 of 7
Prices used to calculate valuations are current as at the valuation point on 28/04/2011 and could go up or down by the time the transaction is completed at the next valuation point.

saverjustice

Why don't you use an online share dealing account?