Spread difference?

Apodemus

Thrugelmir said:

Apodemus said:

Thrugelmir said:

sevenhills said:

I just noticed this when I sold one of my shares on HL. The sold price was a little hight than shown on HL and Google.

There is normally a 15 minute time lag on share prices shown for free in the public domain. 

Yes, but on HL (and I'm assuming on most other platforms) you can always check the actual deal by placing a dummy trade but not executing it.  That often shows a marginally different price and smaller spread.

Very different to subscribing to a live feed where you can monitor prices constantly on a screen.   

Thrugelmir, Yes, very different, but I was suggesting a way round the problem that the OP was reporting of not getting an accurate price on HL before executing the deal.  I may not be remembering correctly, but it might even have been you that suggested this to me when I was bemoaning the quoted spread on HL for UK Gilts - the quoted prices and spread turned out to be quite different to what was visible when trying a dummy trade.

sevenhills

I have just been looking at Aberdeen Standard SICAV I Japanese Smaller Cos Class R2 - Accumulation (GBP), HL states that there is no charge for buying funds, there is also no spread.

How does HL make their profit and if there is no cost involved in buying and selling, is it ok to do it more often?

Thrugelmir

There's a 5% initial charge levied. 

sevenhills

Thrugelmir said:

There's a 5% initial charge levied. 

Quite a sizeable charge, I need to decide which fund and stick with it.

But HL don't mention a charge, just 0.45% annually.

DireEmblem

sevenhills said:

I have just been looking at Aberdeen Standard SICAV I Japanese Smaller Cos Class R2 - Accumulation (GBP), HL states that there is no charge for buying funds, there is also no spread.

How does HL make their profit and if there is no cost involved in buying and selling, is it ok to do it more often?

https://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/a/aberdeen-standard-sicav-i-japanese-smaller-cos-accumulation

Doesn't seem to be any initial charge here, so you'll probably just have their 0.45% platform fee.

sevenhills

DireEmblem said:

Doesn't seem to be any initial charge here, so you'll probably just have their 0.45% platform fee.

I made the transaction yesterday and it's gone through today. The fund, Janus Henderson Asia Pacific Capital Growth is £6.11 up, with no costs or spread shown.

Not sure where HL make their money from, maybe they get some sort of commission from JH?

DireEmblem

Not sure where HL make their money from, maybe they get some sort of commission from JH?

Have you managed to sign up to HL without having to pay their platform fee of 0.45%?  That is now they make money on funds.

sevenhills

DireEmblem said:

Have you managed to sign up to HL without having to pay their platform fee of 0.45%?  That is now they make money on funds.

But they make that on my SIPP and then dealing/spread charges on top?

Thrugelmir

DireEmblem said:

sevenhills said:

I have just been looking at Aberdeen Standard SICAV I Japanese Smaller Cos Class R2 - Accumulation (GBP), HL states that there is no charge for buying funds, there is also no spread.

How does HL make their profit and if there is no cost involved in buying and selling, is it ok to do it more often?

https://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/a/aberdeen-standard-sicav-i-japanese-smaller-cos-accumulation

Doesn't seem to be any initial charge here, so you'll probably just have their 0.45% platform fee.

I've found errors on HL's web pages previously. The information being provided by a third party. 

https://markets.ft.com/data/funds/tearsheet/summary?s=lu0278933410:gbp

https://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F000000EAM

Both these sources disclose a 5% initial charge. 

ColdIron

sevenhills said:

Thrugelmir said:

There's a 5% initial charge levied. 

But HL don't mention a charge, just 0.45% annually.

That is the charge

sevenhills said:

DireEmblem said:

Doesn't seem to be any initial charge here, so you'll probably just have their 0.45% platform fee.

I made the transaction yesterday and it's gone through today. The fund, Janus Henderson Asia Pacific Capital Growth is £6.11 up, with no costs or spread shown.

Not sure where HL make their money from, maybe they get some sort of commission from JH?

Commission is no longer allowed. They make their money from the 0.45% charge above

sevenhills said:

DireEmblem said:

Have you managed to sign up to HL without having to pay their platform fee of 0.45%?  That is now they make money on funds.

But they make that on my SIPP and then dealing/spread charges on top?

They make that charge from SIPPs, ISAs and GIAs. There is no charge for dealing funds at HL. HL do not benefit from from spread differences (of which there are none on that fund anyway)

https://www.hl.co.uk/investment-services/isa/savings-interest-rates-and-charges