Share Class Conversion
We are continuing to convert ‘rebate share classes’ that clients hold into clean share class equivalents where clients can benefit from cheaper or no more expensive share classes. Clients do not require advice for this type of conversion and do not need to give instructions to us. As a reminder, a conversion of this type is not considered to be a disposal for CGT purposes. The next scheduled conversions are:
| Fund Group | Date of last accepted trade to rebate share class (received before 1pm) | Conversion date |
|---|---|---|
| Troy Trojan | 2 January 2024 | 12 January 2024 |
| Sarasin Ire | 9 January 2024 | 19 January 2024 |
| Abrdn | 23 January 2024 | 2 February 2024 |
| Brooks Macdonald | 6 February 2024 | 16 February 2024 |
| J O Hambro | 6 February 2024 | 16 February 2024 |
| Lazard | 6 February 2024 | 16 February 2024 |
| Margetts | 6 February 2024 | 16 February 2024 |
Clients Affected
A schedule of the dates of conversion for each fund and share class is available within the spreadsheet hosted here which will be continuously updated over the coming months for future conversions. Clients will receive contract notes in the usual format following each conversion.
Share Class Conversion Tool
You do not need to wait for us to convert funds. If you would like to convert clients’ funds sooner simply use the fast, simple-to-use Class Conversion tool on TOL.
To check if your clients are in the most appropriate share class on the Transact platform go to Transactions > Class Conversion. There you can see a list of the investments that your clients own and, if there are any cheaper share class options that they could move to, you can instruct the class conversion there and then.
1. Introduction
2. TOL Recent Enhancements
3. Development Summary for 2023
4. New Aggregated Second Dealing Point
5. Succession Planning Update
6. Share Class Conversion
7. Transact – BlackRock MPS Update
8. Maximum Tax-Free Cash Options
9. Fund Changes
10. Interest on Cash Deposits
11. Transact Events 2024