Switching between managed investments
A switch is the term used to describe the redemption of a managed investment (or multiple managed investments) and, instead of the proceeds being directed to the CMA, the funds are directed straight to another managed investment (or multiple managed investments).
The minimum amount that can be switched between managed investments is $1,000. If you give us an instruction to switch (or redeem) an amount that will result in less than $5,000 remaining invested in a particular managed investment, we may process that instruction as a full redemption from that managed investment.
Where your adviser places an order for a full redemption from one managed investment with the proceeds being switched into more than one managed investment, we may split the redemption order into a partial and then a full redemption in order to complete the application orders. In these circumstances, the full redemption will not be placed on market until the partial redemption has been completed. Please refer to your adviser for further details.
