Fidelity fund switching

mmo_2

Hi, I have a few funds with fidelity and I now want to switch some of my funds into a few other new funds. On their website, they have options to select a fund in the porfolio and enter some figure indicating how much unit or percentage I want to move. In my current fund, I have just over 1k and I only want to move part of it, not everything. The new fund initial minimum is 1k. My question is does that also apply to switching funds?

Thanks

bugbyte_2

I have certainly switched less than £1000 before now through Cavendish which uses Fidelity's platform. I have just looked through Cav's fund evaluator and all of the funds I randomly picked have a minimal initial investment of £50 with no initial fees, etc. Whos your broker and whats the fund?

mmo_2

I hold fidelity s&s isa and buy funds on their website, so I guess there is no other middle person involved, other than fidelity and fund management company. Their automatic regular saving allows min £50 a month topup. But I want to be a bit more involved in regular investing rather than just setting up monthly topup on a certain date. Most of the funds (almost all) on fidelity require minimum initial amount of 1k and £250 for any additional top up. eg. Vanguard lifestrategy funds. I am not sure if they apply that rule for switching or for transferring from isa cash park.

Also recently, I have sold and moved some of my US funds into fidelity cash park, which I m intending to move little by little to other funds I like. I am not sure I can do this online as I don't find any link on my online account page. I will give them a call tomorrow and will update here in case anyone might find it useful.

ChopperST

Switched from Fidelity UK smaller companies to Vanguard Global Small Cap on Monday to the the tune of £940 despite the fact sheet saying minimum investment £1k. I did query this with customer services and placed the deal over the phone and specifically checked first.

Vortigern

mmo wrote: »

Also recently, I have sold and moved some of my US funds into fidelity cash park, which I m intending to move little by little to other funds I like. I am not sure I can do this online as I don't find any link on my online account page. I will give them a call tomorrow and will update here in case anyone might find it useful.

1. It takes a few days for the proceeds from your sale to appear in the cash park.

2. Once the money appears in your cash park, you can switch (online) from cash park to any other fund - just like a normal fund A to fund B switch.