Fund pricing

The price is confirmed after you’ve placed a trade

Unlike shares, funds are manually priced – most once a day, usually at midday. This means that when you place a trade, you'll see only a current valuation. The final price may be different. 

The fund manager will value the fund and usually confirm the price within 24 hours of your trade, although it can take up to five working days. 

If you log in to track your trade’s status and nothing has updated straightaway, this is normal.  

You can double-check a fund’s current value before you trade by going to the fund's information page. 

Fund prices depend on class, structure and more

There are often different types of the same fund, usually with varying charges, so you need to be sure you’ve chosen the right one before you trade. 

Classes of the same fund – e.g., Class A, Class B, Class Z – are for different types of investor, and can have different pricing structures. The naming isn’t consistent either, so one Class A fund won’t be the same as a Class A fund from a different manager. 

Some classes have higher charges and are known as inclusive funds, as they include commission which is refunded in your loyalty bonus. Classes that don’t include this commission are known as unbundled funds. There are often income-paying and accumulation versions of each. 

Some funds have two prices

This means there are different prices for buying and selling, which is known as dual pricing. 

The difference between the prices represents the cost of creating or cancelling units when people buy and sell, which is covered by the fund manager. Single-priced funds already include this cost. 

You can see which pricing structure your chosen fund uses by checking its information page and downloading the Key Features.