When are my buys and sells completed?

The cut-off time for the receipt of buy or sell orders and cleared funds for all Funds is currently 12pm NZ time (Monday to Friday, excluding national public holidays).

If buy or sell orders are accepted before the cut-off time for a Fund on a valuation day, units will normally be issued at the Issue Price determined at the end of that day.

If buy or sell orders are accepted after the cut-off time on a valuation day, units will normally be issued at the end of the following valuation day.

Please note that this does not apply to Russell Investments and Elevation Capital:

  • Russell Investments’ NZ PIE funds – orders in these funds, if they are loaded before the cut-off time, units will normally be issued at the following day’s valuation.
  • Elevation Capital – orders are processed monthly, please see FAQ here for more details

For some funds, there will be a buy spread and/or a sell spread – this is a charge built in to the buy or sell price that covers the costs of processing your order. You can see a list of the buy and sell spreads for InvestNow funds here.

Your buy and sell orders will usually be processed within the following timeframes (working days) for each of the Fund Managers (note that the first working day is the working day after you have placed your buy or sell order, with that order having been placed and authorised before 12pm):

  • AMP Capital
    • The following funds have a 1 day settlement timeframe for buys & sells:
      • NZ Cash Fund
      • NZ Fixed Interest Fund
      • NZ Property Fund
      • Responsible Investment Leaders NZ Shares Fund
    • The following funds have a 2 day settlement timeframe for buys & sells:
      • Core Global Shares Fund
      • Core Hedged Global Shares Fund
      • Emerging Markets Shares Fund
      • Global Listed Infrastructure Fund
      • Global Multi Asset Fund
      • Global Property Securities Fund
      • Global Shares Fund
      • Hedged Global Fixed Interest Fund
      • Income Generator Fund
      • Responsible Investment Leaders Balanced Fund
      • Responsible Investment Leaders Conservative Fund
      • Responsible Investment Leaders Global Shares Fund
      • Responsible Investment Leaders Growth Fund
  • ANZ OneAnswer Single-Asset-Class Funds – 2 Days
  • Devon Funds Management – 2 Days
  • Elevation Capital – monthly, please see FAQ here for more details.
  • Fisher Funds – 3 Days
  • Harbour Asset Management (excluding T. Rowe Price) – 2 Days
  • Hunter Investments – 3 Days
  • India Avenue – 2 days for buy orders and up to 4 days for sell orders
  • Legg Mason – 2 days for buy orders and 3 days for sell orders
  • Mint Asset Management – 3 Days
  • Morphic Asset Management – 5 Days
  • Nikko Asset Management – 2 Days
  • Pathfinder Asset Management – 3 Days
  • Russell Investments – 3 Days
    • Russell Emerging Markets Class B – 3 days for buy orders, 4 days for sell orders
  • Salt Asset Management – 3 Days
  • Smartshares – 2 days for buy orders and 3 days for sell orders
  • T. Rowe Price Global Growth Fund – 3 Days
  • Vanguard – 2 days for buy orders and up to 4 days for sell orders

Please note the Fund prices shown may differ from your buy or sell order unit price.

Orders will not be processed on public holidays, and there can potentially be other delays due to additional tasks being carried out by the fund managers – we would not expect these delays to be any longer than a few business days.

By |2018-11-21T16:31:18+00:00December 18th, 2016|Comments Off on When are my buys and sells completed?