Faster buy/sell than Vanguard?

GeoffTF

lastminuteinvestor123 said:

Hi. I have a pension/savings strategy that uses Vanguard which was an appropriate company to use for my previous circumstances, where I had a steady income and only ever wanted to regularly buy and not sell and their fees were low. My circumstances have now changed and a few times a year I’ll have to sell and the delay between the order and it being actions is too long (it just cost me £2k on a sell order because of market change during the delay). I mainly use the Vanguard FTSE Developed World ex-UK accumulation fund. 

Does anyone know if there’s a different company I could buy/sell that fund (or very similar) from who have a more immediate response to a sell order and whose fees are still quite low?

Vanguard's own platform is terribly slow at doing fund switches:

"A switch usually takes 4 to 7 working days, depending on the specific funds you're switching between."

https://www.vanguardinvestor.co.uk/need-help/answer/how-do-i-switch-funds

Any reasonable platform will be much faster than that. I sold some Vanguard FTSE 100 Unit Trust in my ISA on 08/04/24. The proceeds were showing in my account on 10/04/24. I bought some VAGS on 10/04/24, but I could have bought an OEIC at the pricing point later in the day. iWeb is cheaper than Vanguard for most people. If you do the switch manually, it should be possible to do it as fast on Vanguard as you can on iWeb, but I have not tried it. I do not know how Vanguard can possibly take that long with an automatic switch.

Nebulous2

Also - you can set buy/sell limits with ETFs. I had a modest attempt at timing the market with VWRP. I would set a limit 60/70/80 pence away from the current price, on Fidelity. About 50% of the time I struck lucky, and would get a better price than I would have at best. 

dunstonh

Does anyone know if there’s a different company I could buy/sell that fund (or very similar) from who have a more immediate response to a sell order and whose fees are still quite low? 

pre-funding is normal on the traditional providers but it takes up millions of pounds of their money.  
When you move to the low cost providers, they don't have the money to pre-fund.

orange-juice

I've been meaning to switch some holdings that I currently have on Charles Stanley, from an OEIC to an ETF. This would entail doing two separate transactions, along with time for settlement as they don't have an automated switch function.

To mitigate time out of the market processing these transactions, I was thinking of buying an ETF (FWRG or SPDR ACWI) tracking the same benchmark, on the same day as selling the OEIC (HSBC FTSE All World), but just on a different platform where I currently have some cash. And then selling when I come to buying the etf on CS.

Does this sound like a sensible idea? Or should I do them on different days, maybe a day after for the ETF? Or is it largely moot.

EthicsGradient

dont_use_vistaprint said:

eskbanker said:

dont_use_vistaprint said:

ColdIron said:

But to withdraw the proceeds you will have to wait until the settlement date, typically 2 to 4 days

I think you may be confused about the unit price. OEICs are forward priced and you would have got the price at the next valuation point, 21:00 for VLS

You might be right, actually. I sold a mixture of VLS, VUSA & was able to put one of them straight into money markets, and one I was not. I was trying to do it this morning, but the system is off-line for weekend maintenance :-(

When  doing this activity like when the market is flat after a climb and you want to sit in Money markets for a while how do you know which things you can sell fast Which are gonna take a few days? 

As above, you learn the difference between ETFs (instant) and OEICs (not instant)!

How do you know which is which? Just researched a few things I’m investing and I don’t see any of those terms OEIC mentioned in the names or descriptions

Another quick way on ii - on the 'Investments' screen, there's the "Group by" option (top left of the list). "by All" is the default, but "by Type" is available, and that groups investments as Shares, ETFs, Investment Trusts and Funds (which are almost certainly all OEICs).

Notepad_Phil

orange-juice said:

I've been meaning to switch some holdings that I currently have on Charles Stanley, from an OEIC to an ETF. This would entail doing two separate transactions, along with time for settlement as they don't have an automated switch function.

To mitigate time out of the market processing these transactions, I was thinking of buying an ETF (FWRG or SPDR ACWI) tracking the same benchmark, on the same day as selling the OEIC (HSBC FTSE All World), but just on a different platform where I currently have some cash. And then selling when I come to buying the etf on CS.

Does this sound like a sensible idea? Or should I do them on different days, maybe a day after for the ETF? Or is it largely moot.

Sounds a sensible idea to me provided you're talking about a reasonable amount of money being switched. Personally I'd look to buy the ETF at close to the valuation time for the HSBC fund which I think is midday. I'd also make sure that the start and end of the switch were kept as close as possible e.g. don't do the sell on a Friday and buy on Monday, and make sure that you put the HSBC sell request in plenty of time so that you definitely know which day the sell request will be acted on.

michael1234

Where can one find out at what time of day a given fund prices itself ?

ColdIron

michael1234 said:

Where can one find out at what time of day a given fund prices itself ?

You should check the fund factsheet