Get the facts about Dealing
Do I pay fees for buying and selling investments?
You do not pay fees for buying and selling funds as these costs are covered in your ongoing service fee. For buying and selling non-fund investments (e.g. stocks and ETFs) there is a £4.95 dealing fee per transaction.
How are funds priced?
The price of a fund is determined by the value of the underlying investments, also known as the Net Asset Value (NAV). A fund manager will periodically value all the investments within the fund and divide it by the number of units/shares that have been issued. The result is the price that you are shown when you purchase units within a fund.
How can I set up a buy/sell limit order?
To set up a limit order to buy or sell shares:
How do I buy and sell funds?
For buying new funds
For buying or selling existing funds
For switching out of existing funds
How do I buy and sell shares?
To buy or sell shares, login and go to the account you wish to trade in.
Buying new shares:
Buying more of existing shares
Selling shares
How long does it take for a fund buy/sell order to process?
An instruction to buy or sell a fund, once confirmed, usually takes four days to complete and be shown in your completed transactions. Sometimes the transaction completes more quickly. When you sell a fund, cash in your account will be available to withdraw after five working days.
If you have waited more than five working days, you can get in touch with our Client relations team on 020 7189 9999.
Is there a minimum investment?
The minimum investment into most funds is £50. The minimum investment into equities is the cost of one share, as well as any applicable trading costs.
What does it mean if I cannot deal because of liquidity issues?
When market conditions are volatile we may not be able to trade stocks and shares on your behalf. This may be because our market maker is unable to fill a quoted price. There may also be issues with individual assets. In these instances it is best to contact our client relations team by phone or email to get more information.
What does it mean when a fund is soft-closed?
A soft-closed fund is a fund that has been temporarily closed for new investments by the fund manager. You can usually sell your holdings during a soft closure but you won’t be able to make additional investments until the fund manager reopens it.
What happens to income from my investments?
If you have chosen to have the income paid to you, income from your investments will show as cash on your account.
You can withdraw the cash yourself by navigating to the 'Withdraw cash' tab on your account page and following the steps on your screen.
If you would prefer your income paid out to your bank account regularly then you can ask our Client relations team to set up a monthly payment from an ISA or Investment Account. You can contact them on 020 7189 9999.
If you have chosen to have the income reinvested, it will be automatically reinvested into the fund. You can find this information in your transaction history by navigating to the account you have made the investment in, and clicking the 'Transactions' tab.
What is a limit order?
A limit order is an instruction to buy or sell a set amount of shares at a specified price or better. The order will not be executed if the price set by you is not met while the order is open.
To set up a limit order to buy or sell shares:
What is the dealing point and cut-off point?
The dealing point is the point at which a trade for a fund or share has been confirmed with both SEI (our custodian) and the fund manager. The cut-off point is the time by which an order must be placed on a given day. For instance, if a dealing point is midday every day then the cut-off point may be 9am on the same day. If an order is received after this cut-off point the trade will not be confirmed and will be processed at the next available dealing point – in this case, the next day.
What is the difference between income and accumulation units?
The type of unit you hold determines how any income generated from the fund's underlying investments is treated.
With income units, income is paid out to you as cash. This could provide you with an income stream. Alternatively, you can choose for the cash to be reinvested which means using the cash to buy additional units.
With accumulation units income is retained within the fund and reinvested, increasing the price of the units. Generally, if you wish to reinvest income, accumulation units offer a more convenient way of doing so.
How can I change from having my income paid out to being reinvested (or vice versa)?
You will need to call or email us to change the way your dividends are paid. We will then contact our custodian to make the necessary changes. If this is requested after the ex date of a particular fund (the date at which the value of dividends is calculated and paid to investors) your preference will not be amended until the following dividend payment. In order to qualify for dividends, you will need to hold the fund(s) before the ex date.
How do I know what price I will receive when buying and selling a fund?
We are unable to provide fund prices at the time of purchase or sale. Our Investment search page shows fund prices as of the previous dealing day for all funds – these are indicative of the price you will receive but that will depend on market conditions.
If I buy income units in a fund, where will I receive my income?
If you have chosen to have the income paid to you, income from your investments will show as cash on your account.
You can withdraw the cash yourself by navigating to the 'Withdraw cash' tab on your account page and following the steps on your screen.
If you would prefer your income paid out to your bank account regularly then you can ask our Client relations team to set up a monthly payment from an ISA or Investment Account. You can contact them on 020 7189 9999.
If you have chosen to have the income reinvested, it will be automatically reinvested into the fund. You can find this information in your transaction history by navigating to the account you have made the investment in, and clicking the 'Transactions' tab.
If you can't find the answer to your question, get in touch or we'll be happy to call you.