Can't sell part of a fund by value through Halifax Share Dealing

Audaxer

I am really surprised to find out that if I want to sell part of a fund I have with Halifax Share Dealing, I have to specify online the number of units I want to sell rather than state the value I want to sell. So I can't specify that I want to sell say, £3,000 worth of units. I phoned and they confirm that I have to specify the number of units I want to sell rather than a value. I know that I can work out roughly how many units I need to sell, but as the sale will be based on the price at close of play tomorrow, I won't know how exactly much I will get.

Is this peculiar to Halifax Share Dealing as I'm sure with other platforms you can state the value you want to sell?

ivormonee

It must be peculiar to Halifax as indeed elsewhere I have no problem with specifying amounts.

fred246

Maybe if you are managing your own investments they expect you to be able to do a bit of simple arithmetic.

Audaxer

fred246 wrote: »

Maybe if you are managing your own investments they expect you to be able to do a bit of simple arithmetic.

As I said, I can work out the number of units based on the latest published price, but if for example I do the deal order today, I don't know what the selling price will be because it will be the price as at close of play the following day, so I won't know the exact amount of money I will be getting from the sale. I assumed all platforms would give you the option of selling either a number of units or to specify a value of the fund you want to sell.

george4064

fred246 wrote: »

Maybe if you are managing your own investments they expect you to be able to do a bit of simple arithmetic.

That's not the case at all, it seems you actually don't understand the concept of funds functioning on a 'forward pricing basis'.

@OP, I reckon its because Halifax's system is very basic/dated and hence they only offer the simplest option to sell, hence only option is redeem number of units.