RetireJapan

Hello!

I've used Monex for a few months now, buying some eMaxis Slim S&P500 mutual funds.
Now they approved my NISA account on their platform: does anybody know if I can move these funds from standard to NISA?

Thanks!

I don't think this is possible. You would have to sell the investments in the taxable account, then buy them again in NISA. However, as they are mutual funds this shouldn't be too much of a problem.

The only risk is a big price movement between you selling the funds and buying new ones.

Alternatively, if you have enough funds, you could just buy new investments in NISA going forward and keep the taxable ones.

dav7dey wrote: ↑Mon Jun 08, 2020 2:44 am eMaxis Slim S&P500 EFTs.

Some technical points. There's no such thing as an EFT. Maybe you meant ETF?

Also, eMaxis slim products are not ETFs, they are mutual funds. The difference is that you buy ETFs from another punter on the stock exchange, but you invest in a fund directly with the fund provider.

RetireJapan wrote: ↑Mon Jun 08, 2020 3:02 am I don't think this is possible. You would have to sell the investments in the taxable account, then buy them again in NISA. However, as they are mutual funds this shouldn't be too much of a problem.

That's what I guessed, thanks for confirming that! I was hoping to maximise the benefits of NISA on the investments that I've been lucky enough to start this March, when the market went back up.

adamu wrote: ↑Mon Jun 08, 2020 5:11 am Also, eMaxis slim products are not ETFs, they are mutual funds. The difference is that you buy ETFs from another punter on the stock exchange, but you invest in a fund directly with the fund provider.

Ha, corrected the original post, thanks for pointing this out:)