Interactive Investor Switching Funds in SIPP

jim8888

I have a SIPP with Interactive Investor. I have about ten funds in the SIPP, all quite small around 5k each. I'd like to sell some of these and swap them by buying into an investment trust, but I wondered if I do this by just selling within the SIPP and buying with the resultant cash? I don't want to actually take any money out or activate any chrystalisation within the SIPP, I just want to swap funds around. I wondered if anyone has done this within their portfolio?

Notepad_Phil

Yes I've done it and it's fine. The money will remain fully within the SIPP and you can use it to buy new funds which will of course also remain within the SIPP.

ps most investment trusts will pay a dividend and that too will remain with the SIPP.

IvanOpinion

I have changed funds within my II SIPP a couple of times and there hasn't been a problem.  Just remember that it counts as 2 transactions (one buy and one sell).

LHW99

Easy to do as Notepad_Phil says.

Remember though that selling an OIEC fund doesn't happen immediately. It usually takes 2-3 days for the sale to happen / be flagged in the SIPP.

Buying (or selling) ITs is like shares, you can get an up to date price if you put a request in when the markets are open. It will take place immediately unless you select one of the options that put a limit on the price you want to buy or sell at. They last for however many days you select, and may or may not happen depending on how the price moves over the day.