How to transfer, switch or sell your ISAs and funds

Transferring your ISA from one plan manager to another

If you want to transfer your ISA from one plan manager to another e.g. from Jupiter to Invesco Perpetual, you can’t just sell your Jupiter funds and then reinvest the proceeds with Invesco Perpetual. If you did that, you’d lose all the tax benefits.

To keep your funds within an ISA, you need to effect an ISA transfer. This involves completing an ISA transfer form, which authorises your old ISA plan manager to sell your funds and send the proceeds to your new ISA plan manager. The new plan manager invests the proceeds in your new funds. This keeps the ISA status of your funds intact.

This process can take up to 30 days and can leave your ISA ‘out of the market’ for some time.

To transfer your ISA, request the Key Features and application form(s) – for your new ISA plan manager – using our Brochure Request page. Most companies automatically include an ISA transfer form. If they don’t, you’ll find a separate brochure to select from the list.

• Request a brochure to transfer your ISA

Re-registering your funds with a fund supermarket

Re-registration allows you to transfer your existing funds into a fund supermarket, like Cofunds or Fidelity FundsNetwork without selling them. As long as your existing funds are offered by the fund supermarket – about 1,000 are – you can re-register them free of charge.

This means that you’re not ‘out of the market’ at all and you have exactly the same number of units/shares after the transfer as you had before.

If you want to use a fund supermarket, this is the best way to transfer your ISAs or funds to them.

• Find out more about Cofunds re-registration.
• Find out more about Fidelity FundsNetwork re-registration.

A word of warning: Please note re-registration is a one-way process. Funds cannot be re-registered back to the original fund company.

Switching your funds

Switching refers to selling units/shares in one or more funds and reinvesting the proceeds in another fund, or funds administered by the same fund supermarket or fund company.

If you use Cofunds or Fidelity FundsNetwork, you can switch between funds online.

• Cofunds customers can login or register here.
• Fidelity FundsNetwork customers can login or register here.

Alternatively, you can write a switch instruction letter to the fund supermarket or fund company. Your instruction needs to be clear, unambiguous and include your customer account or plan reference number.

Important: Please post your switch instruction to CommShare. We’ll forward it to the company. If you don’t, some companies assume that we’re no longer your agent. This could affect your cashback payments.

Selling your funds

If you want to sell some, or all of your funds, please send a written instruction to the company, quoting your customer or plan reference number.

Don’t send an instruction to sell your ISA funds if you want to want transfer your ISA to another company. This will result in the loss of your tax benefits. See ISA Transfers above.

If you’re not sure about any of this, or just want to ask one of us a question, you can contact us here.