What price will I get when I buy or sell a fund?

It depends on whether you're buying or selling a mutual fund or an Exchange Traded Fund (ETFs).

Mutuals

You do not know what price you will get when you place an order, you trade at the ‘next available price.’ Vanguard mutual funds set their price once each working day and the timing varies from fund to fund. For example, say the price is set at 12:00 if you place your order at 14:00, it will be executed at tomorrow’s 12:00 valuation point. This is known as forward-pricing.

The dealing deadline is usually but not always an hour before the valuation point. You can find the dealing deadline for a specific fund by finding the fund in our fund list, the dealing deadline is under Key fund facts column.

ETFs

ETFs are traded throughout the day when stock markets are open. The price continually changes in line with the forces of supply and demand. Our bulk dealing service trades them twice a day at 10:15 and 14:10. You can place a trade free of charge, but it must be before these dealing deadlines.

Alternatively, you can get a live price when the London Stock Exchange is open, Monday to Friday from 8:00 to 16:30, excluding fund holidays. To buy at a live price you need to use our Quote and Deal service which costs £7.50 per trade. You will need cash available in your account.

You have around 15 seconds to accept or reject the quoted price. Please note the quote is not guaranteed if the market moves within that short window.

Once the trade is executed, the order will be marked as complete on your Transactions page.