Differences in Vang LifeStrategy 80 charges?

deadpeasant

HL says 0.1% initial charge, 0.24% annual charge.
http://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/v/vanguard-lifestrategy-80-equity-accumulation

iWeb says no initial charge, 0.29% annual.
https://halifaxiweb.digitallook.com/cgi-bin/digital/security.cgi?username=&ac=&id=2569225#?cht

I thought the 0.1% was an unavoidable 'dilution'? And HL aren't claiming to offer any discount on the annual charge. Is the iWeb site just wrong? Also, why are today's prices slightly different?

Sorry if this is covered elsewhere on the forum; I looked but couldn't find.

TCA

HL shows the correct charging. The iWeb webpage is wrong but if you click on the Key Investor Info Document (KIID), you get the correct details.

iWeb shows prices from the 10th and HL shows prices from the 11th. Neither of much use. Real-time prices will appear when you trade.

deadpeasant

Thanks TCA. Do you think I can 'take it for granted' that the charges will be applied correctly (ie as per KIID), or would I need to check that iWeb aren't taking 0.29%? So far I love iWeb's cheapness and prompt phone-answering, but I'm not inspired by the ease of getting info out of the website...

TCA

I should have said that this fund will only be priced once per day, so I'm being a bit harsh on HL in my previous comment. I haven't bought funds on iWeb but I think you stick in a value and unit prices and units to be purchased for your value, should come up. Someone else can maybe verify.

deadpeasant

I've worked out how to make purchases, in fact I've already bought one fund on iWeb. I'm slightly bothered to see clearly wrong information about charges on what is a Halifax website. Can one assume that the charges as laid out in a KIID will be applied correctly by the platform...?

ColdIron

The charges in the KIID are levied by Vanguard and not the platform

deadpeasant

ColdIron wrote: »

The charges in the KIID are levied by Vanguard and not the platform

Yes, so back to my original question. In principle, the iWeb/Halifax info could mean that they, the platform, will absorb the dilution fee and will charge 0.05% annually in addition to Vanguard's 0.24%. Or does their website simply have wrong/misleading info? I'll ask them directly.

ColdIron

The iWeb data is just out of date, the new Vanguard charges are fairly recent. As for the Initial Charge, this is not the old fashioned figure that the fund managed just trousered but a dilution that goes back into the fund. It looks like iWeb choose not to show this as an Initial Charge because technically it is not. Charles Stanley do the same

deadpeasant

Just phoned and they said the charges would be as stated by Vanguard, plus only the iWeb £5 dealing charge; and that they'd notify the relevant team to correct the info on their funds centre page.

Your_Hero

deadpeasant wrote: »

Just phoned and they said the charges would be as stated by Vanguard, plus only the iWeb £5 dealing charge; and that they'd notify the relevant team to correct the info on their funds centre page.

Vanguard dropped their AMC to 0.24% from 0.29% with effect from 01/09/2014 so I wouldn't be surprised if 1 or 2 platforms still show the incorrect charges.