Santander stocks and shares isa

PoGee

I've mentioned before that I find investing complicated but have spent a few days on learning the system. I have an old Santander stocks and shares isa, where I invested £1.2 k 4 years ago. In 4 years it's gained around £440, with platform fees paid, so 'profit' of £440. I picked the investments - not Santander.

I'm happy with the gain so bought another fund at the weekend from the cash account associated with the isa. This means the funds are cleared so had assumed the purchase would go ahead today but it hasn't. When I called, they said the buying happens at a certain time of day, which I understand, but they also said it sometimes doesn't happen every day.

Is this correct? It's a Vanguard one on Santander's platform.

jimjames

Vanguard funds can take longer than others to settle so yes I imagine it is correct

dunstonh

When I called, they said the buying happens at a certain time of day, which I understand, but they also said it sometimes doesn't happen every day.

Correct.   It doesnt happen on weekends or public holidays.   And that can include public holidays of other countries.   For example, Japanese funds are not traded when there are Japanese public holidays.

I'm happy with the gain so bought another fund at the weekend from the cash account associated with the isa. This means the funds are cleared so had assumed the purchase would go ahead today but it hasn't. 

Trades have 2 or 3 days to settle.   Most funds are two days but some Vanguard funds are 3 days.

GeoffTF

Depending on the platform, you may be able to reinvest when the sale price is known, but before the platform receives the money.