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Income Funds paying out during SSISA Transfer

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Hi,
I've opened my III ISA account and downloaded the ISA Transfer form, filled it in, and am ready to send it off. However, before I do that I have a question.

I hold IP High Income Income (not the ACC version). The Ex dividend date is/was 1st Jan, but the payment date is not till 28th Feb. It typically shows up in my HL vantage account in early March, and HL auto-reinvest it a few days later. But, I need to get my transfer form to III by the end of Feb to take advantage of their current transfer offer.

My Plan A was to sell all my (non Soft closed) funds and transfer as cash. Plan B is to switch all my (non Soft Closed) funds into to a single OEIC and transfer that one fund in-specie. But, how does either option work with a pending income payment from a fund I no longer hold to a supplier i'm transferring out of?

I'm tempted to wait till late Feb to send the form off (so that it gets to III just in time) and then hope that HL process the re-investment before they receive the transfer request from III.

Any other suggestions?

Cheers
Judwin

Comments

  • personally, i'd try to simplify the transfer process by switching the income option on the ISA to "hold in the account". then HL should just send the cash over to III some time after they receive it, and you can work out what to do with it then.
  • Judwin
    Judwin Posts: 207 Forumite
    personally, i'd try to simplify the transfer process by switching the income option on the ISA to "hold in the account". then HL should just send the cash over to III some time after they receive it, and you can work out what to do with it then.

    Yes - Thanks. I suppose that avoids the danger that HL might buy more units of a fund I've already sold, and then stinging me £25 for an in-spicie transfer of them to III. :eek:
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