This is the first time that an integrated solution has been offered in the market combining investment funds and ETFs, Allfunds stated, which will enable investors to move between ETFs and mutual funds interchangeably in a more efficient and cost competitive way.
The integration of transfers of fund investments to ETFs, from ETFs to ETFs and from ETFs to funds, covers the different cases allowed today under the Spanish “traspaso” fiscal regime.
No capital gains tax
Under Spain’s fiscal rule, fund investors can take advantage as they can switch between funds without incurring capital gains tax, as long as the fund (local and international) are registered and have the “traspasable” status.
Allfunds said it will begin marketing under this Spanish transfers’ system the ranges of the main ETFs managers in the European universe, with a broad coverage of the total market.
Laura González, head of Iberia at Allfunds said: “Thanks to this technological development, our distributors will be able to implement and create new products for their clients, facilitating the investment in investment funds and ETFs to the retail investor. Any distributor that wishes can count on our platform to offer operational and fiscally efficient solutions.”
