Initial fee and spread

stinktankcynic

Hello,
A quick perhaps technical question. Buying through a broker with no initial fee, part commission back etc... iSa
Buy a fund, Black rock. Initial fee is supposed to be 5%, AMC and ter around 0.7% etc. Buy £1000 at example £1.00. = 1000 units. Value is at £1000. No movement. Sell price is say £0.95. If you sell I take it you get £950. This £50, is that the initial 5% charge or some spread which you lose on? Some funds, like HSBC have only one value. Will the broker refund the 5% initial fee?
Thanks. Sorry if this is a noob question, but the difference between buy and sell is around 5% too.
Stc

grey_gym_sock

the broker can usually discount all or most of the initial charge. if they do, they should say how much their initial saving is.

for some funds, they can discount the whole initial charge; for others, you might still be paying 0.25% or so.

if there's an initial saving, i'd expect to get more units bought, not a cash rebate.

dunstonh

Effectively, there isnt initial charges nowadays. Anything charged initially is by the broker/adviser.