Managed funds orders go through a number of steps, with each one having a specific status.
Here is what they are and what they each mean:
Pending – you have placed an order and it is awaiting execution. Orders are executed Monday to Friday, excluding national public holidays. Whilst in the Pending status the order can be cancelled.
Approval required – you have placed an order and it requires additional authorisers, as per the preference you set for your account. The transaction will not be processed until the other authoriser(s) have logged in and authorised the order.
Processing – your order has been actioned following the 12pm cut-off and sent to the selected fund manager for processing. Confirmation of the order can take 1 to 4 working days, depending on the fund selected. See here for settlement timeframes for each fund manager.
Completed – your order is fully processed. For buy orders, the units have been allocated to your portfolio. For sell orders, the cash has been credited to your InvestNow Transaction Account.
Cancelled – your order was cancelled before the 12pm cut-off.