Hargreaves Lansdown question

Mikey17

Hello, just a quick query. Last week i transferred one fund into another. I said it could take 4 working days. On the Thursday the new fund appeared in the account, but to my surprise it was 0.82% down at 312.81 (ish) even though on the charts it had been rising all week. The next day it said in the account it had risen by exactly the same amount 0.82% ( 2.6p ) to 315.40p My gain/loss was now 00.00. When i checked the contract note it was bought at 315.40. So why would it appear in the account as 312.81 loss of 0.82% the day before ?
I rang them up and the girl seemed to not understand what I was asking, and said it was probably the fees which were 0.006 % even though on the website it says 0.003% neither anywhere near 0.82%
Have i gone mad, if so please ignore me. Thanks

Linton

Mikey17 wrote: »

Hello, just a quick query. Last week i transferred one fund into another. I said it could take 4 working days. On the Thursday the new fund appeared in the account, but to my surprise it was 0.82% down at 312.81 (ish) even though on the charts it had been rising all week. The next day it said in the account it had risen by exactly the same amount 0.82% ( 2.6p ) to 315.40p My gain/loss was now 00.00. When i checked the contract note it was bought at 315.40. So why would it appear in the account as 312.81 loss of 0.82% the day before ?
I rang them up and the girl seemed to not understand what I was asking, and said it was probably the fees which were 0.006 % even though on the website it says 0.003% neither anywhere near 0.82%
Have i gone mad, if so please ignore me. Thanks

What was the new fund?

Mikey17

Legal and General US index class C accumulation http://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/l/legal-and-general-us-index-class-c-accumulation

The fees were 0.03 % not 0.003%

Ryan_Futuristics

Basically, the fund price takes 24 hours to update - so when you see it, it's 24 hours old

The price you bought at was up to date

So when it worked out your profit/loss on the day it appeared, it took *today*'s buy price and measured it against yesterday's fund price (which was lower) ... Hence: it had appeared you were down by the amount the fund had raised that day (but of course you weren't)

Mikey17

Ryan_Futuristics wrote: »

Basically, the fund price takes 24 hours to update - so when you see it, it's 24 hours old

The price you bought at was up to date

So when it worked out your profit/loss on the day it appeared, it took *today*'s buy price and measured it against yesterday's fund price (which was lower) ... Hence: it had appeared you were down by the amount the fund had raised that day (but of course you weren't)

I see, I didn't think anything untoward had happened. I just thought the staff explanation made no sense. Many thanks for the replies