Switching funds on HL
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aubergine99
Posts: 25 Forumite
I'd like some advice pls as a newbie. I'm thinking of switching my HSBC FTSE All Share fund to Lindsell Train Global Equity for the long term. Is there anything I should consider before placing the deal? I'd be switching from Acc to Inc units. Is that a problem? Is there a best time (of day) to place deal to avoid losses? Thanks :undecided
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Before 8am as thats when HL processes orders each day to the fund managers unless the the fund's cut off is in the morning
I always do mine late at night after 9pm at least0 -
aubergine99 wrote: »I'd be switching from Acc to Inc units. Is that a problem?
No, not at all.
As for timing - what DennisTenus said.0 -
aubergine99 wrote: »I'd be switching from Acc to Inc units. Is that a problem?0
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ColdIron, I didn't know that could be done. I wondered why fund doesn't have Acc version.0
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There isn't an Acc class that retains the dividends but you can instruct HL to automatically buy more units with the dividends you receive from your Inc fund. Go to 'Account Settings' then 'Withdrawals, income and loyalty bonus', then 'Edit income instructions' where you can choose: Automatically reinvested
There is a small charge for this (1%, £1 minimum) or you could leave them on account and save them up until you have £100 and buy them for free. Depends on the size of your investment0 -
There isn't an Acc class that retains the dividends but you can instruct HL to automatically buy more units with the dividends you receive from your Inc fund. Go to 'Account Settings' then 'Withdrawals, income and loyalty bonus', then 'Edit income instructions' where you can choose: Automatically reinvested
There is a small charge for this (1%, £1 minimum) or you could leave them on account and save them up until you have £100 and buy them for free. Depends on the size of your investment
I've found that HL actually used some of my income from an inc fund to pay their feeds (automatically), so bear that in mind0 -
Yes, good point. This is the default option for fee collection (income account then capital account) but you can change it to capital then income account in the fee collection options0
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