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What is a fund conversion?

In 2014 we started offering investors a new type of fund with lower annual management charges and lower or no loyalty bonuses. We call these 'unbundled' funds. We called the existing funds, with higher annual charges and higher loyalty bonuses, 'inclusive' funds. A conversion is the process of changing your fund holdings from 'inclusive' to 'unbundled' units.

Some investors will prefer to convert to the new type of 'unbundled' funds, while others will prefer to continue to hold 'inclusive' funds. We give our clients the choice.

You can compare the charges and savings of both unbundled and inclusive units.

There are no charges to convert and HMRC has confirmed that conversions will not count as disposals for capital gains tax purposes. You will remain invested throughout the conversion process.

Once you have given your instruction you can continue to trade in your inclusive fund, or cancel the conversion, at any time whilst your order is 'pending'. Once your instruction to convert has been passed to the fund group you will not be able to trade in the inclusive fund until the conversion is complete.

You can convert a single fund, all funds in an account, or all funds in your portfolio.

Find out more about converting funds

Download our factsheet on fund conversions

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