Next divided for funds

aroominyork

After a fund (OEIC) goes ex-dividend but before it distributes, where can you see what the dividend will be?

[Deleted User]

Hi,

if you go to the likes of Trustnet, find your fund, click on it, then hit the Dividends tab.

aroominyork

I had a look at that, frugal. Trustnet only shows the dividend after the 'paid' date, not between the ex-div and paid date.

bowlhead99

If the share has both an income class and an accumulation class, the share price of the income class will drop by the value of the dividend when it goes ex dividend and the accumulation will not. Of course, the share price will also move based on market valuation of the underlying portfolio, but the portfolio will be consistent between the two share classes.

So for a crude approximation, if you see the Acc price at e.g. £140 move to £142 on ex div day, you know the market moved up by 1.43%, so the income class at £100 would be expected to move up to £101.43. If however it moved down to £99.50 instead, you know they have recognised a liability to pay out £1.93, which (because I'm using simple numbers in my example) is easy to recognise as an amount of money that represents 1.93% of the value of the investments that you held cumdiv.

It would not be exact, as the asset mix (e.g. between cash and proper underlying investments) may differ between classes at a point in time, so the percentage movement on a given day due to market conditions could vary a little. However, as there's presumably no real need to get more than a crude approximation of what income distribution you're likely to receive before you receive the paperwork for it, it would be sufficient as a placeholder pending receipt of the actual cash arriving in your bank or broker/platform account.

An alternative suggestion would be to email the fund manager and ask politely for it. If you're a small investor using a third party platform to access their product, they may not have much interest in corresponding with you directly, as they rely on the distributor (the platform) to deal with day to day investor queries - while your platform might not be particularly fussed about demanding the information from the fund manager because their standard procedure is to simply be informed of the amounts nearer the time of the distribution.

aroominyork

Thanks bowlhead. I'd guessed the Acc vs. Inc workaround but naturally (or natch, as I think the kids say these days) neither of my Inc funds have Acc versions. Anyway, it's not especially important, though it's curious the info is not published somewhere or the other. 

EthicsGradient

aroominyork said:

I had a look at that, frugal. Trustnet only shows the dividend after the 'paid' date, not between the ex-div and paid date.

Sometimes it does show it in the period in between. For instance, now, for Janus Henderson European Selected Opportunities - https://www.trustnet.com/factsheets/o/op80/janus-henderson-european-selected-opportunities , it has

Dividend Type	Dividend Amount	Ex Dividend Date	Payment Date	Tax Indicator
Final	21.215	01/06/2020	31/07/2020	No Tax

If you can't find it there for funds you're interested in, then a google search of the year, fund name and either "dividend" or "distribution" often turns up a page from the manager.

bowlhead99

aroominyork said:

 naturally (or natch, as I think the kids say these days) neither of my Inc funds have Acc versions. 

I think the cool kids have given up saying that, in the same way that they've also moved on from saying 'cool'. However as language continues to evolve, the sitch may change...

wmb194

Fidelity.co.uk also shows dividend data for the funds it has. For the funds I follow I've noticed that it often has dividend data before Trustnet.

aroominyork

EthicsGradient said:

aroominyork said:

I had a look at that, frugal. Trustnet only shows the dividend after the 'paid' date, not between the ex-div and paid date.

Sometimes it does show it in the period in between. For instance, now, for Janus Henderson European Selected Opportunities - https://www.trustnet.com/factsheets/o/op80/janus-henderson-european-selected-opportunities , it has

Dividend Type	Dividend Amount	Ex Dividend Date	Payment Date	Tax Indicator
Final	21.215	01/06/2020	31/07/2020	No Tax

If you can't find it there for funds you're interested in, then a google search of the year, fund name and either "dividend" or "distribution" often turns up a page from the manager.

As well as neither of my funds having Acc versions, neither subscribe to Trustnet so dividend data is not published there. If you're wondering about these reclusives I am entrusting my money to, they are Barings Europe Select and Lindsell Train Japanese. 

bowlhead99

aroominyork said:

EthicsGradient said:

aroominyork said:

I had a look at that, frugal. Trustnet only shows the dividend after the 'paid' date, not between the ex-div and paid date.

Sometimes it does show it in the period in between. For instance, now, for Janus Henderson European Selected Opportunities - https://www.trustnet.com/factsheets/o/op80/janus-henderson-european-selected-opportunities , it has

Dividend Type	Dividend Amount	Ex Dividend Date	Payment Date	Tax Indicator
Final	21.215	01/06/2020	31/07/2020	No Tax

If you can't find it there for funds you're interested in, then a google search of the year, fund name and either "dividend" or "distribution" often turns up a page from the manager.

As well as neither of my funds having Acc versions, neither subscribe to Trustnet so dividend data is not published there. If you're wondering about these reclusives I am entrusting my money to, they are Barings Europe Select and Lindsell Train Japanese. 

What did Lindsell Train say when you asked them about where to find the information? If slow to get a response due to Covid related business disruption, call Link Fund Administration Ireland Limited who are the fund administrators and registrars, phone number on the monthly reports: https://www.lindselltrain.com/~/media/Files/L/Lindsell-Train-V2/reports/lt-japanese-equity-fund/LTJeF_Latest.pdf.  They may refer you back to your own platform of course as I suggested above.

aroominyork

I never asked them, bowlhead. It was only curiosity/interest. I'm not strategising how to invest the dividend on a bi-annual distribution on 5% of my portfolio from a low income part of the world!