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. And as a reminder, a conversion of this type is not considered to be a disposal for CGT purposes. The next scheduled conversions are:

	Date of last accepted trade (received before 1pm)	Conversion date
Baillie Gifford	26 June	7 July
Jupiter	3 July	14 July
Merian	3 July	14 July
Janus Henderson	19 July	27 July
Fidelity	25 July	2 August
Artemis	4 August	14 August
M&G	18 August	29 August

Clients will receive contract notes in the usual format following each conversion.

Clients Affected

A schedule of the dates of conversion for each fund and share class is available within the spreadsheet hosted here and will be continuously updated over the coming months for future conversions.

Models and Templates

The models and templates containing the funds that are being updated will be automatically converted to reflect the clean share class as a part of our exercise. Until the conversion has been completed, your clients’ buys into these rebate share class funds (including regular buys) and transfers in will be restricted. During this window you will be unable to purchase or sell units for these funds. Rebalances of templates which hold these funds will also be unavailable.

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 to see 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. Transact Online (TOL) – Recent Enhancements
3. Transfer Due Diligence Pension Scams
4. Consumer Duty Actions
5. Over 54% of Investor Clients have Logged in in the Last year
6. Share Class Conversion
7. Transact- BlackRock MPS Update
8. Dealing with Pension Income Payments in Times of Uncertainty
9. Fund Changes
10. Interest on Cash Deposits
11. Transact Events 2023