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  • FIRST POST
    • MarcoM
    • By MarcoM 6th Feb 18, 9:10 AM
    • 479Posts
    • 63Thanks
    MarcoM
    Sale of Fund H & L
    • #1
    • 6th Feb 18, 9:10 AM
    Sale of Fund H & L 6th Feb 18 at 9:10 AM
    Hello,


    Over the weekend I instructed H & L to sell some of my vanguard fund. The transaction is still showing as pending.


    Does anyone know how long it will be before this is processed?
    I am obviously worried about the present correction getting worse if H & L drag their feet acting on my instruction.


    Thanks
Page 1
    • Vortigern
    • By Vortigern 6th Feb 18, 9:23 AM
    • 2,355 Posts
    • 1,566 Thanks
    Vortigern
    • #2
    • 6th Feb 18, 9:23 AM
    • #2
    • 6th Feb 18, 9:23 AM
    Your weekend order should have executed at 9pm Monday. You'll get a contract note sometime today.
    • dunstonh
    • By dunstonh 6th Feb 18, 9:41 AM
    • 91,051 Posts
    • 58,066 Thanks
    dunstonh
    • #3
    • 6th Feb 18, 9:41 AM
    • #3
    • 6th Feb 18, 9:41 AM
    Vanguard funds used to be 3 days settlement but are now 2. However, you are not days from the order point yet.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • MarcoM
    • By MarcoM 6th Feb 18, 9:48 AM
    • 479 Posts
    • 63 Thanks
    MarcoM
    • #4
    • 6th Feb 18, 9:48 AM
    • #4
    • 6th Feb 18, 9:48 AM
    Hi there,


    Just checked my account and it says:


    Submitted for dealing - Your deal has been submitted to the fund manager and can no longer be cancelled.


    The fund is Vanguard LS 60 40.


    So I am I correct in assuming that the date of sale may not even be yesterday or today?


    I am aware that with funds such as these the owner will never be really in control of the exact buy or sells day but I just wanted to prepare myself in case they sell late and the markets go down further
    • Drp8713
    • By Drp8713 6th Feb 18, 9:54 AM
    • 775 Posts
    • 642 Thanks
    Drp8713
    • #5
    • 6th Feb 18, 9:54 AM
    • #5
    • 6th Feb 18, 9:54 AM
    They are not selling late.

    If it has a T+2 settlement date as outlined above, and you placed your request on a weekend when the markets are closed, then your transaction date will be yesterday when the markets opened, and your settlement date would be tomorrow which is the point you no longer own the fund.
    • AnotherJoe
    • By AnotherJoe 6th Feb 18, 10:21 AM
    • 8,227 Posts
    • 8,956 Thanks
    AnotherJoe
    • #6
    • 6th Feb 18, 10:21 AM
    • #6
    • 6th Feb 18, 10:21 AM
    Are you panicking or was this just unfortunate timing ?
    • MarcoM
    • By MarcoM 6th Feb 18, 10:22 AM
    • 479 Posts
    • 63 Thanks
    MarcoM
    • #7
    • 6th Feb 18, 10:22 AM
    • #7
    • 6th Feb 18, 10:22 AM
    I need the money to buy a house we have seen.
    totally wrong timing I know but we like the house.


    should have sold a month ago when we started looking for property but greed got the better of me....so kept the fund.
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