Investment Fund Transfers

As its name suggests, a fund transfer consists of redeeming the units of a particular fund (fund of origin) to subscribe units in another fund (destination fund) in a single operation without going through a current account.

These redemptions may either be partial or total. If the fund transfer is carried out through the same fund manager, the steps are simpler than if the redemptions are done through different entities.

The steps tend to be the same because the investor must indicate the destination investment fund to which this transfer will be made and, as regards the fund of origin, the partial or total amount and the number of units they wish to transfer.

1. You can do so on the website or app or at a Unicaja branch.
2. If the transfer is to be made from another institution, you must initiate the process at Unicaja.
3. If it is to be made from Unicaja to another institution, you must arrange it at the destination institution.

The time the investment fund transfer takes will depend on two factors: the time it takes to check the unitholder's data and the time needed to transfer the amount (from the initial fund to the new fund).

The usual timeframes are as follows:

• If the transfer is between funds of the same fund manager or marketing entity: a time limit of at most five days.
• If the transfer is between funds of different fund managers or marketing entities: a time limit of at most eight days.

Yes, an investment fund transfer may be partial; in other words, part of the money held in the fund can be transferred to another fund and the other part left in the initial fund.

However, if only part of the investment is to be transferred, the part one wishes to transfer must be clearly stated in the request (in terms of units or amount).

Yes, the fact that a transfer is made between investment funds denominated in different currencies does indeed have a direct effect on the transferred amount.

Yes, they can. In Spain, it is possible to transfer all investment funds, ranging from the most frequent ones to other types of collective investment undertakings. Transfers between compartments and classes of the same investment fund are also possible.

In the case of natural persons who reside in Spain, transfers between funds are not taxed.

Any capital gains that might be obtained from this entire process are not subject to effective taxation until final redemption. This advantage in the taxation of investment funds applies to both Spanish funds and EU investment funds duly registered at the Spanish National Securities Market Commission (CNMV).

There is no cost for transfers between investment funds. There may, however, be subscription and redemption fees. It is advisable to talk to our banking advisors beforehand to make sure you are aware of any additional costs that may arise as a result of these transfer arrangements.