Transfer from Vanguard to iWeb

dllive

Aylesbury_Duck said:

Yes, you're right.  It doesn't show it on the first page, but if you click on the fund itself you get the screen you've posted.  I could call them and give them the book price as it was when I transferred.  I'll get round to that at some point, thanks!

Haha, agreed. Likewise!

Im pleased Im not the only one thats experienced this issue.

Cheers!

dllive

Hi guys

This issue is still rumbling on! I cannot believe that transferring an ISA from one company to another loses all performance data! Its seems crazy to me! I must be misunderstanding something as its such an obvious basic requirement that any investor would want to know!

Anyway, Vanguard has finally come back with some figures. Theyve given me a spread sheet showing:

Fund name
Transfer date
No. of Units
Avg Cost
Fund Price As At Day Before
Fund Price On Transfer Date (Close of Business)

What price figure shall I give iWeb? The Avg Cost? Or the Fund Price On Transfer Date ?

Thanks

masonic

dllive said:

Hi guys

This issue is still rumbling on! I cannot believe that transferring an ISA from one company to another loses all performance data! Its seems crazy to me! I must be misunderstanding something as its such an obvious basic requirement that any investor would want to know!

Anyway, Vanguard has finally come back with some figures. Theyve given me a spread sheet showing:

Fund name
Transfer date
No. of Units
Avg Cost
Fund Price As At Day Before
Fund Price On Transfer Date (Close of Business)

What price figure shall I give iWeb? The Avg Cost? Or the Fund Price On Transfer Date ?

Thanks

You would need to give them the Avg cost. This will go into the Avg Cost Per Share column at iWeb. It is normal that this info isn't transferred. I even saw it disappear when a provider upgraded its platform once. I keep my own performance data separately. If you ever sell holdings, then that's another way to lose performance data, so it pays not to rely on the information a provider shows you.

Aminatidi

Yeah I've done a few transfers between different platforms and I've never seen this info pull across.

It's just 1000 units of whatever it might be and each time I'm effectively starting from zero so far as profit or loss.

IanManc

If you hold Inc units in a a unit trust or OEIC then the profit/loss figures given on broker accounts are always wrong anyway, because they are never updated to take account of the equalisation payment you get with your first dividend, which reduces the purchase capital cost of your holding as it is a return of capital and isn't income.

dllive

IanManc said:

If you hold Inc units in a a unit trust or OEIC then the profit/loss figures given on broker accounts are always wrong anyway, because they are never updated to take account of the equalisation payment you get with your first dividend, which reduces the purchase capital cost of your holding as it is a return of capital and isn't income.

Thanks. All my fund are accumulation class, so one less complication to deal with.

dllive

Aminatidi said:

Yeah I've done a few transfers between different platforms and I've never seen this info pull across.

It's just 1000 units of whatever it might be and each time I'm effectively starting from zero so far as profit or loss.

In iWeb it display 0 for Costs Per Share, so it must be skewing the profit/loss figure massively(?)

masonic

It's unusual to use zero, normally if no value is known, they take the value on the date of transfer. For reasons discussed above profit/loss is almost always wrong, so being so obviously wrong could be a benefit. If it was a non-ISA account it might be more of a problem, but you should never rely solely on your provider's summary of profit/loss for CGT calculations.

dllive

masonic said:

It's unusual to use zero, normally if no value is known, they take the value on the date of transfer. For reasons discussed above profit/loss is almost always wrong, so being so obviously wrong could be a benefit. If it was a non-ISA account it might be more of a problem, but you should never rely solely on your provider's summary of profit/loss for CGT calculations.

This is the second time Ive transferred from Vanguard to iWeb. Both times the Cost Per Share is 0. Vanguard say they never pass-on the Unit Price (which seem bizarre in itself. I would have thought they would pass over the average price per unit!). As you say, the obvious thing for iWeb to do is take the price on the date of transfer. So unless Ive been unlucky, and for some reason they just havnt for on these 2 occassions, the Unit Price would show zero on every transfer.

As ever, its too much to ask Vanguard to deal with iWeb regards this, so Im stuck in hte middle. They both seem incredulous that I would want to know the Unit Price of the transferred funds, thereby knowing the profit/loss. 

wmb194

dllive said:

masonic said:

It's unusual to use zero, normally if no value is known, they take the value on the date of transfer. For reasons discussed above profit/loss is almost always wrong, so being so obviously wrong could be a benefit. If it was a non-ISA account it might be more of a problem, but you should never rely solely on your provider's summary of profit/loss for CGT calculations.

This is the second time Ive transferred from Vanguard to iWeb. Both times the Cost Per Share is 0. Vanguard say they never pass-on the Unit Price (which seem bizarre in itself. I would have thought they would pass over the average price per unit!). As you say, the obvious thing for iWeb to do is take the price on the date of transfer. So unless Ive been unlucky, and for some reason they just havnt for on these 2 occassions, the Unit Price would show zero on every transfer.

As ever, its too much to ask Vanguard to deal with iWeb regards this, so Im stuck in hte middle. They both seem incredulous that I would want to know the Unit Price of the transferred funds, thereby knowing the profit/loss. 

Why don't you keep track yourself in something like MS Money? I rarely pay attention to anything my brokers state in relation to gains and losses.