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Switching funds within an ISA
Tom Jenkins
Posted: 26 March 2018 17:40:33(UTC)
#1

Joined: 26/03/2018(UTC)
Posts: 1

I'm hoping for some layman's advice regarding fund charges.

I have an ISA with Zurich that was set up some time ago with 11 funds that I pay into monthly. I would like to switch some of the funds within the ISA for others from Zurich's available list.

My question regards the entry charges associated with some funds as stated in their KIIDs (and sources like Trustnet). Zurich make no charge for fund switches however it appears there may be charges made by fund mangers themselves - I have spoken with Zurich - so far they are unable to advise.

The question is: each time I switch funds within the ISA, will my available proceeds be reduced by the entry cost of the fund I'm switching to? Sometimes this can be as high as 5%!

To make matters more complicated, often the KIID will say something like "this is the maximum that might be taken out of your money before it is invested..." in that case how do I know what the actual charge is?

Example - http://documents.financi...009871D432/84807165.pdf

I am wondering if the initial charge is only relevant if I buy direct from the the fund manager (BlackRock in my example) but is waived if I buy through an ISA provider such as Zurich or Hargreaves Lansdown - but 'm struggling to get clarity. Hopefully some one out there can demystify me!
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