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Vanguard slow income payments
Rheumatoid
Posts: 1,104 Forumite
I hold Vanguard FTSE U.K. Equity Income Index Fund (Income) with Vanguard and HL. Income was due 29th December. It was received in my HL ISA on 31 December. It has still not been paid by Vanguard. I have queried this and got the following:
"Our distributions differ slightly from Hargreaves Lansdown, however, our distributions will be paid within 10 working days from the payable date which was on the 31st December"
To my mind a payable date is a payable date unless on a w/e or bank holiday. I have asked if the money will accrue interest whilst being held but have yet to receive a response.
Is this a common occurrence with Vanguard and/or other platforms?
R.
"Our distributions differ slightly from Hargreaves Lansdown, however, our distributions will be paid within 10 working days from the payable date which was on the 31st December"
To my mind a payable date is a payable date unless on a w/e or bank holiday. I have asked if the money will accrue interest whilst being held but have yet to receive a response.
Is this a common occurrence with Vanguard and/or other platforms?
R.
16 Panel (250W JASolar) 4kWp, facing 170 degrees, 40 degree slope, Solis Inverter. Installed 29/9/2015 - £4700 (Norfolk Solar Together Scheme); 9.6kWh US2000C Pylontech batteries + Solis Inverter installed 12/4/2022 Year target (PVGIS-CMSAF) = 3880kWh - Installer estimate 3452 kWh:Average over 6 years = 4400 :j
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Comments
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Rheumatoid wrote: »Is this a common occurrence with Vanguard and/or other platforms?
Interactive Investor is notorious for paying dividends late (although it's gotten better lately). It's interesting that Vanguard does the same (for Vanguard funds, even!).
I'd be curious to hear if someone has an explanation. I agree with you - a payment date is a payment date...0 -
10 days is what Vanguard say in their T&C (section 2.3.1 on page 8), but not sure how this compares to other platforms.0
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Interactive Investor is notorious for paying dividends late (although it's gotten better lately). It's interesting that Vanguard does the same (for Vanguard funds, even!).
I'd be curious to hear if someone has an explanation. I agree with you - a payment date is a payment date...
A payment date is a payment date for the fund, not for the platform. Platform will receive the payment from the fund on the payment date, but it will need to distribute it to the investors after that.0
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