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    • k6chris
    • By k6chris 12th Feb 18, 6:37 PM
    • 209Posts
    • 360Thanks
    Buying / selling funds - what does it mean?
    • #1
    • 12th Feb 18, 6:37 PM
    Buying / selling funds - what does it mean? 12th Feb 18 at 6:37 PM
    In the continuing process of understanding how much I don't understand, I was looking at the factsheets for 2 funds I own as part of a broader portfolio. I understand how buying and selling individual shares work, but not how it works for funds. From the factsheets I read;

    Fund One

    Trading frequency (cut-off) Daily (10:00 London Time)
    Settlement T+2
    Valuation point Underlying Market Close
    Pricing Times: 21.00 Daily

    Fund Two

    Settlement Trade Date + 3 days
    Dealing Frequency Daily, forward pricing basis
    Pricing Times: 12.00 Daily

    For the first fund, does it mean that in order to buy, I need to have my order placed by 10:00am and the price I buy at will be the closing price at 21:00 that day (and presumably the same for selling). The money will then leave my account 3 days later (or arrive 3 days later)??

    For Fund 2, do I need to have my order in before 12:00 and the pricing will be whatever is is at 12:00 on the same day??

    Thanks (as usual!)
Page 1
    • le loup
    • By le loup 12th Feb 18, 9:56 PM
    • 3,783 Posts
    • 3,735 Thanks
    le loup
    • #2
    • 12th Feb 18, 9:56 PM
    • #2
    • 12th Feb 18, 9:56 PM
    Your understanding is correct although your platform provider may require longer notice of a transaction - for example - the day before.
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