Blue Whale and Iweb

Blue_Sky

I tried to buy some Blue Whale on Iweb today.  I think I selected the correct fund it was listed as :- BLUE WHALE GWTH R GBP ACC.  When I tried to buy some this message came up and prevented me from doing so.
Following changes to FCA regulations, new investments in this share class is unavailable.  Please check if there is an alternative share class for this fund.  Does anyone know what is going on here?  Have I tried to buy the wrong fund, or have some regulations changed which means I can't buy this fund with Iweb.

jamei305

You need the I class which they don't offer.

TBC15

Strange the R class should be available. I think only HL offer the I class.

Blue_Sky

TBC15 said:

Strange the R class should be available. 

The R class was listed but when I tried to buy them I got the message I mentioned in the OP.  I have since been in touch with them, the person I spoke to wasn't sure what was going on and passed my situation on to the dealing desk.  They told me they would phone me back later today but not heard from them yet.  I think their call center is open until 7pm so I suspect I wont get a phone call until tomorrow or I will probably end up phoning them again tomorrow.

talexuser

R class 1.14% ocf, I class 0.89% ocf - presumably this is to make up for the more expensive HL platform, I assume it's on their Shortlist? Looking through my portfolio I have nothing with an ocf above 1%.

TBC15

talexuser said:

R class 1.14% ocf, I class 0.89% ocf - presumably this is to make up for the more expensive HL platform, I assume it's on their Shortlist? Looking through my portfolio I have nothing with an ocf above 1%.

OCF is an interesting but pointless figure. It’s what ends up in your pocket at the end of the year that matters.

garmeg

TBC15 said:

talexuser said:

R class 1.14% ocf, I class 0.89% ocf - presumably this is to make up for the more expensive HL platform, I assume it's on their Shortlist? Looking through my portfolio I have nothing with an ocf above 1%.

OCF is an interesting but pointless figure. It’s what ends up in your pocket at the end of the year that matters.

You will have more in your pocket at the end of the year if you bought the 0.89% ocf fund instead of the 1.14% version of the same fund though. So ocf is not pointless when looking at different tranches of the same fund.

TBC15

garmeg said:

TBC15 said:

talexuser said:

R class 1.14% ocf, I class 0.89% ocf - presumably this is to make up for the more expensive HL platform, I assume it's on their Shortlist? Looking through my portfolio I have nothing with an ocf above 1%.

OCF is an interesting but pointless figure. It’s what ends up in your pocket at the end of the year that matters.

You will have more in your pocket at the end of the year if you bought the 0.89% ocf fund instead of the 1.14% version of the same fund though. So ocf is not pointless when looking at different tranches of the same fund.

You’re quite right the one that puts the most in your pocket is what you go for.  Sub 1% OCF as a global mantra is interesting but pointless unless…………. It puts more in your pocket at the end of the year.

Blue_Sky

talexuser said:

R class 1.14% ocf, I class 0.89% ocf - .

I can't find it today, but yesterday I read somewhere that the 0.89% figure applied when you bought over £10 million shares.  If you were buying less then the 1.14% ocf applied.  I think this may have been on Blue Whales own web site but I am not certain about that.

Blue_Sky

I tried the on line web chat today took half an hour to eventually find out that no one has yet looked into my problem and that they will contact me when someone does.

A_T

TBC15 said:

garmeg said:

TBC15 said:

talexuser said:

R class 1.14% ocf, I class 0.89% ocf - presumably this is to make up for the more expensive HL platform, I assume it's on their Shortlist? Looking through my portfolio I have nothing with an ocf above 1%.

OCF is an interesting but pointless figure. It’s what ends up in your pocket at the end of the year that matters.

You will have more in your pocket at the end of the year if you bought the 0.89% ocf fund instead of the 1.14% version of the same fund though. So ocf is not pointless when looking at different tranches of the same fund.

You’re quite right the one that puts the most in your pocket is what you go for.  Sub 1% OCF as a global mantra is interesting but pointless unless…………. It puts more in your pocket at the end of the year.

low fees is one of the few things you can control and is one way of possibly having ....... more in your pocket at the end of the year