Does it cost you any money to switch funds?

With most funds they are single priced (the same price is used for buying and selling units) and there will be no cost involved other than an occasional small transaction charge which is dependant on the provider involved. If the investment involves a Unit Trust then this type of fund will often be dual priced with a selling price lower than the current buying price. Your platform provider should make all these charges clear to you before making any switch instructions