Curtis Banks > Advisers > SIPP > Investments > Investment Journeys > Purchasing and selling shares in an OEIC or Unit Trust

Purchasing and selling shares in an OEIC or Unit Trust

Investment Journeys

OEICS and Unit Trusts

In practical terms, there is very little difference between am OEIC (Open Ended Investment Company), and a Unit trust. Both allow you to invest the cash in your SIPP, or a portion of your pension, in a pooled fund with other investors in the market to invest in a single fund. It can also be invested in a number of different assets and investments, benefitting from professional fund management.

The below process relates to those investments that are authorised and approved by the Financial Conduct Authority (FCA). For investments not authorised by the FCA, please view our ‘Purchasing a non standard investment’ page.

You are responsible for deciding which investments are suitable for your pension. Curtis Banks are unable to provide advice and we recommend that you obtain financial advice before making any financial decisions.

Before making any financial decisions, please read the information on our scam awareness page.

How to request monies from an investment account

  1. Send us an instruction by secure message, email or post, including:
    • The account you wish to withdraw funds from
    • The amount you wish to withdraw
  2. We will issue an instruction to the investment firm, typically within 3 working days of receipt of the instruction
  3. Once processed, we will normally confirm to you once the funds have been returned to us

Please be aware that the investment firms’ processing timescales will differ dependent on a number of factors including type of investment or liquidity in the account.

How to sell shares in an OEIC or Unit Trust

  1. Send your instruction to us via secure message, email or post. We’ll review the information and respond typically within 24 hours. Your message should include:
    • Amount to be disinvested
    • Any onward disinvestment instructions with the sales proceeds
  2. We send the instruction to the fund manager within 3 working days
  3. On receipt of the contract note, we will update the online portal

We’ll confirm to you once the funds have been received.

Please note that if the investment firm has any queries on theinstruction, this can impact the above timescales.