Dealing Process Timings
The table below describes what happens when make an investment into a ISA, or directly into Unit Trusts through rplan and Cofunds.
Immediately after placing the deal
We confirm the deal with Cofunds and provide you with their reference.
You will get an email from rplan confirming your deal.
If you have paid by debitcard you will receive an e-mail from firstname.lastname@example.org that will confirm that transaction.
The money in your bank account is ring fenced for this transaction so you can't spend this but it may still show on your statement until around 3pm the next day.
When the deal is placed in the market
Most funds price once per day at midday (the 'valuation point'), although the time and frequency can vary. For example, some illiquid funds like property funds might only price weekly or monthly. Your deal will be placed in the next valuation point after you place it. Cofunds cut-off for accepting deals for today's valuation point is one hour before the fund manager's valuation point.
Cofunds state in their terms and conditions that they will miss no more than 1 valuation point. Missing a valuation point however is very rare.
If you have invested in multiple funds then each fund will be traded separately.
|Confirming the deal||
Normally, the price that your deal was dealt at is supplied to Cofunds on the same day as the trade's valuation point and you should see your new holdings reported on rplan the next day.
It can take one more day if the fund manager reports the dealing prices to Cofunds late.
Cofunds will generate a paper confirmation note and send this to you in the post. This is sent second class so it maybe up to 5 days after the deal has completed before you receive it. An example of a confirmation note is shown here
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- General Information
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- Buy Process