Royal London Short Term Money Market Fund Y Inc

MPLMPL

Snot said:

Is there any clarity on why the price dropped at the beginning of Nov and again in Dec ?
I've received my div today and it equates to the expected 6 month dividend.

As stated earler, it has switched to monthly income payments. Just checked my account, there are two income payments into my Fidelity account today, one 6 month income payment and one 1 month payment.

Snot

MPLMPL said:

Snot said:

Is there any clarity on why the price dropped at the beginning of Nov and again in Dec ?
I've received my div today and it equates to the expected 6 month dividend.

As stated earler, it has switched to monthly income payments. Just checked my account, there are two income payments into my Fidelity account today, one 6 month income payment and one 1 month payment.

So you had 2 payments today - so that makes sense.
My confusion arises as I bought this fund since the last div payment, so as expected received a Div and an Equalisation payment. But I wasn't clear now the move to monthly would work.

Richmmm

I have been following this thread as i recently invested in the RL Short term Inc fund and I was not expecting the price drops. However, thanks to everyone for explaining the funds behavior. Btw I received three payments today

Does this happen to other income funds?

Rich

masonic

Yes, the value must drop to account for the fact the net assets no longer include the dividend that is about to be distributed.

LHW99

Richmmm said:

I have been following this thread as i recently invested in the RL Short term Inc fund and I was not expecting the price drops. However, thanks to everyone for explaining the funds behavior. Btw I received three payments today

Does this happen to other income funds?

Rich

Have you bought new in the last 6 months? I appear to have had x amount from the units already owned at the last ex-div date, y amount from units purchased since then and z equalisation.

PloughmansLunch

While this thread is fresh I just have a quick question as I'm sure someone here knows - are these distributions classed as dividends or interest for tax purposes?

InvesterJones

PloughmansLunch said:

While this thread is fresh I just have a quick question as I'm sure someone here knows - are these distributions classed as dividends or interest for tax purposes?

They're interest.

Barbados7

For the RL STMM income fund, is there a specific monthly date when the interest payments are made/received to/into a SIPP, or ISA please? Many thanks.

dunstonh

Barbados7 said:

For the RL STMM income fund, is there a specific monthly date when the interest payments are made/received to/into a SIPP, or ISA please? Many thanks.

Yes, it goes XD on the first working day of the month with payment on the last working day of the month.

This information is on the fund factsheet.

Barbados7

Thank you very much dunstonh. I must have somehow missed that.