How long do fund purchases take to go through?

threlkeld53

Just wondered how long it normally takes when purchasing a fund online, once you click 'confirm', to having the deal executed/confirmed.
I purchased 2 funds on Sunday for my S&S ISA with iWeb, one Vanguard LifeStrategy and one HSBC Global Strategy. The latter was dealt with and confirmed on the Monday. The Vanguard one hasn't been executed yet and is still (Tuesday pm) showing active. I Would have thought it would have been executed Monday morning. Do different fund managers have various purchasing times? 

masonic

Generally funds are valued once per day (when markets are open), and cut-off times vary by platform and fund. I have previously observed that certain fund orders placed at iWeb over the weekend missed the Monday valuation point and were executed on Tuesday. You'll probably get confirmation tomorrow and will have dealt at today's valuation point.

Albermarle

Apart from the valuation point of the fund ( usually sometime between noon and 21.00) the platform will have a cut off time some hours before that . If you miss the cut off point then the deal will not be done until the next valuation point . Then it takes another couple of days for the settlement ( exchange of money ) , so you might see the deal is done but the cash is not taken but not available , depending again on the platform. 

Novice_investor101

Vanguard always take a day longer than most other funds. Possibly because their cut off point can be as early as 8am or 9am for that evening’s valuation point. 

So if iweb sent your instruction on Monday morning it will likely have made the Monday cut off for the other fund but missed it for the Vanguard. Next would then be 8/9am Tuesday for that evening’s valuation point.