Selling Vanguard Funds on IWeb?

Aminatidi

Would anyone know how selling Vanguard funds on IWeb works around when the sale is priced and when the funds are typically available to re-invest please?

I've only ever purchased on IWeb and usually the purchase has been priced the day of putting in the purchase order (assuming done before that days valuation point).

Basically IWeb don't have a "switch" function so I'm trying to understand the timing of a sell/buy.

Thanks 👍🏻

ColdIron

My recent experience. I don't deal on IWeb often and this was my first sale for a few years so I had forgotten the process

09/04 at 10:40 AM I placed a sell order, it's status was 'Active'
10/04 it's status was still  'Active'
11/04 it's status was still  'Active' in the morning

I phoned to query this later on that morning and after a couple of conversations with people who basically didn't know their business (this isn't HL after all) I got onto a chap who did

Vanguard's documents state

• Cut-off time 10:00 a.m. (London time)
• Valuation point 9:00 p.m. (London time)

My order at 10:40 09/04 missed the Vanguard cut-off of 10:00. It was picked up at Vanguard the next day (10/04) and executed, the contract note bears this out. IWeb don't update their order details until they receive confirmation by Vanguard, 11/04 in this case, so the 'Order Status' is basically stale

On the afternoon of 11/04 the order details updated, the cash was in my account and the Contract Note was available

The Deal Date was 10/04 and the Settlement Date was 12/04 but the cash was available to place a new order on the 11th which I did. I fully expect that the cash wouldn't be available to withdraw until the trade has settled on the 12th

HTH

GeoffTF

I sold some shares in a couple of Vanguard funds last week. I used to be able to see pending orders, but that facility seems to have gone. I had to contact customer services because I got an internal server error for one attempted trade. The representative confirmed that I had two sell orders, but gave me dud information about where I could see my pending orders. My sale of FTSE 100 Unit Trust showed as completed early the next day, but my sale of Developed World ex UK did not show as completed by 16:00, so I waited until the next day to reinvest the proceeds in an ETF.

ColdIron

It's still there for me, select Dealing at the right then Pending Deals

Aminatidi

Thanks both and do IWeb pre-clear (I think that's the term) the funds from the sale so you don't have to wait 2-3 days for the settlement before you can re-invest?

Appreciate for a sale with the proceeds being withdrawn as cash it would have to settle and clear.

ColdIron

As I say above

ColdIron said:

The Deal Date was 10/04 and the Settlement Date was 12/04 but the cash was available to place a new order on the 11th which I did

GeoffTF

ColdIron said:

It's still there for me, select Dealing at the right then Pending Deals

Thank you for that. I expected it to be under Dealing History. It was worrying when I could not see my pending deals.

Aminatidi

Thanks all, ColdIron I was hoping for a sample of more than one 😀

ColdIron

Just for completeness, the purchase order I placed with the sales cash released to me on the 11th, before the settlement date of the 12th, executed on the 12th and was available today, the 15th and will settle tomorrow the 16th

Aminatidi

The next question is does anyone know when IWeb update their fund pricing?

I often seem to be looking at prices that are a couple of days behind the prices published on the fund providers websites which is confusing.

FTSE Global All Cap for example shows pricing from 2nd May which is last Thursday.

GeoffTF

Aminatidi said:

The next question is does anyone know when IWeb update their fund pricing?

They have a note on the account somewhere saying that it depends... My advice is to ignore iWeb's prices completely. If you want delayed prices before trading, get them from a reliable source. If the fund is a London quoted ETF, get the price from the London Stock Exchange website. If it is an open ended fund, use the FT or Morningstar websites. When you trade an ETF, iWeb will give you a reliable up to date quotation.