Switching funds on HL

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aubergine99
aubergine99 Posts: 25 Forumite
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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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  • DennisTenus
    DennisTenus Posts: 483 Forumite
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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 least
  • londoninvestor
    londoninvestor Posts: 1,350 Forumite
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    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.
  • ColdIron
    ColdIron Posts: 9,052 Forumite
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    aubergine99 wrote: »
    I'd be switching from Acc to Inc units. Is that a problem?
    You'll probably want to change your Income Instructions to Automatically Reinvested
  • aubergine99
    aubergine99 Posts: 25 Forumite
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    ColdIron, I didn't know that could be done. I wondered why fund doesn't have Acc version.
  • ColdIron
    ColdIron Posts: 9,052 Forumite
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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 investment
  • DennisTenus
    DennisTenus Posts: 483 Forumite
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    ColdIron wrote: »
    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 mind
  • ColdIron
    ColdIron Posts: 9,052 Forumite
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    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 options
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