Last year I invested a small sum in a Merrill Lynch Unit Trust - this was advertised as "ISAable" and earlier this year I decided to "convert" it (what is the correct term for this?). Looking at the paperwork last night I noticed that they sold my units at the bid price, then re-bought them for the ISA at the offer price, resulting in fewer units than I previously held.
Is this normal practice for something like this - obviously I misunderstood their meaning of "ISAble".
KotF