Switching between M&G funds and products

To get the most out of your investment, we encourage you to invest for five years, ten years or more. However, if your circumstances change, your investment needs may change too.

With M&G, you have the flexibility to switch between our funds and products so that you can keep your investments in line with your financial needs.
 

Switching between M&G funds

If your investment needs change or you decide that you’d like to invest in a different fund, you can switch between M&G funds at any time while keeping your investment within the same product.

Switching between funds may incur a charge. Contact a financial adviser or call our Customer Relations team on 0800 390 390 if you require any further information (including minimum switching limits) and to obtain a switching pack free of charge.

Unless you specify otherwise, you'll automatically be allocated the same share type (income or accumulation shares) that you currently hold in the new fund. However, if you want to change the share type – if your income preferences have changed, perhaps – you must let us know.

Note that switching between funds within an OEIC is a chargeable event for Capital Gains Tax (CGT) purposes. If you are unsure of your tax position, contact a financial adviser. If you need help finding an adviser that's right for you, visit our Get financial advice page.

You might need to pay tax depending on your circumstances and the options you choose. Tax rules can also change in the future.
 

Switching between M&G products

As an M&G customer, you’re already making the most of the potential advantages of investing in the stockmarket. However, if your current investments are doing well, you may well have to pay tax on any gains you make.

If you move your investments into an M&G ISA (Individual Savings Account), they will be protected from both income and capital gains tax. It's easy to sell your existing M&G OEIC and reinvest the proceeds into The M&G ISA.
 

Important information if switching into an M&G ISA

Under HM Revenue & Customs (HMRC) regulations, we cannot transfer your existing investment straight into an M&G ISA as stock. Instead, we need to sell your shares and reinvest the sale proceeds into your choice of ISA fund(s).

You should note that your investment will be out of the market between the sale of your existing fund(s) and the purchase of your new fund(s) on the following business day.

HMRC will treat this as a new ISA investment, so it counts as part of your ISA allowance for the relevant tax year.

ISA tax rules may change in the future and their tax advantages depend on your individual circumstances.

The sale of your existing investment will count as a disposal for Capital Gains Tax (CGT) purposes. When the sale proceeds are reinvested in full, any CGT liability will have to be met from other resources.

We are unable to give financial advice, so you should consider speaking to a financial adviser if you need help deciding if an investment is right for you.
 

Before you switch

Before switching, you should read an up-to-date version of your chosen fund’s ‘Key Documents’:

• Key Investor Information Document (KIID)
• Prospectus
• Consumer-Facing Disclosure (CFD) – for funds with sustainability characteristics or a sustainability label

These documents can be viewed in our Fund Centre.

You should also read the Important Information for Investors document, which includes M&G’s Terms and Conditions.
 

Ways to switch

There are three ways to switch between M&G products and funds: