Investment Trust Conversion Shares

Mez!

Registered User
Messages
41
F&C Managed Portfolio Investment Trust consists of two pools of assets - Growth and Income. Shareholders in either of the two pools are able to convert some or all of their shares into the other pool on an annual basis by notifying F&C.
It is not a spilt capital trust.

Each one has a unique ISIN:
GB00B2PP3J36 (Income shares)
GB00B2PP2527 (Growth shares)

As you would expect, the ‘Growth’ shares don’t pay dividends, the ‘Income’ shares do.

Say I held a number of ‘Growth’ shares for many years, and decided to convert these shares to ‘Income’. Would I trigger a CGT event?

https://www.fandc.com/uk/private-investors/investment-trusts/global-trusts/fandc-managed-portfolio-trust/
 

dublin67

Frequent Poster
Messages
307
I'm not sure you'll get a complete answer to this question and no one may know the actual answer. I'd hazard a guess and say that you may be able to find relief from CGT in section 584 or 585 of the Taxes Acts. Here is a link https://www.revenue.ie/en/tax-professionals/documents/notes-for-guidance/tca/part19.pdf

My starting point would be to find out how the conversion is dealt with in the UK and trace that into the Irish legislation. I would defer to anyone who has looked at this in any detail. Not only is this a minority sport but complicated also.
 
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