STMM Question

mebu60

Thanks to those recently discussing the above I have finally bitten the bullet and invested some cash sitting in my Fidelity S&S ISA into the Royal London STMM Y Acc at 1.06.
However, when attempting to do the same in my partner's BestInvest SIPP it only offers a Royal London STMM Y at .983. No Acc and a lower unit price. 
Any guidance as to what is going on here would be much appreciated. Thanks. 

Doctor_Who

On Interactive Investor the RL STMM Y Acc fund is ~106.1p and the Inc fund is ~98.3p. Does BestInvest only offer the Inc fund?

The Inc fund has a lower unit price because the income is paid out.

wmb194

mebu60 said:

Thanks to those recently discussing the above I have finally bitten the bullet and invested some cash sitting in my Fidelity S&S ISA into the Royal London STMM Y Acc at 1.06.
However, when attempting to do the same in my partner's BestInvest SIPP it only offers a Royal London STMM Y at .983. No Acc and a lower unit price. 
Any guidance as to what is going on here would be much appreciated. Thanks. 

It's the income version i.e. it pays out distributions rather than accumulating them. Concomitantly you'd expect the unit price to be lower.

mebu60

Thanks both. I will look again later, seems odd that they would not offer the Acc fund.

Stargunner

I know that Bestinvest only offer the income version, because I have an ISA with them that I wanted to invest some money in the RL acc fund, but had to settle for the income one.

mebu60

Stargunner said:

I know that Bestinvest only offer the income version, because I have an ISA with them that I wanted to invest some money in the RL acc fund, but had to settle for the income one.

Thanks Stargunner. Is consistent with the ITs and shares in the SIPP in that dividends are paid into the SIPP as cash so this will just be the same. It's mainly accrued dividends that will be going in to the RL STMM fund. 

mebu60

In a subsequent dropdown the sole choice was 'income'.

There was, however, a tick box option to reinvest income.