Investing in UK unit funds

[Spinner]

I am interested in investing directly in UK funds as I have identified interesting fund managers (e.g. JPM, Newton) and interesting funds (e.g. JPM Balanced Total Return Fund, Invesco Perpetual High Income, Newton Oriental). The funds are only priced in Stg and my gut tells me I only have a currency exposure as per the underlying assets although I have to convert to Stg to buy the fund.

I am getting contradictory opinions and the subject seems to cause confusion. Do I have exposure to Stg/€ as a Euro investor if I buy an Asian fund that is priced in Stg?

 

[PMU]

The funds are only priced in Stg and my gut tells me I only have a currency exposure as per the underlying assets although I have to convert to Stg to buy the fund.

You are correct. Your exposure when you buy / sell the fund is to the underling currency to euro exchange rate, but, unless you can get the spot rate (and commission free) for euro / sterling ,when you buy / sell the fund, as it is priced in sterling, you will lose out on the exchange rate / commission your bank charges you.

You might also wish to confirm if the gains on foreign unit funds are taxed at the 23% rate or at your marginal tax rate.