Managed Funds Frequency of managed fund price updates on margin loan

Discussion in 'Shares & Funds' started by Jane M, 8th May, 2006.

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  1. Jane M

    Jane M Well-Known Member

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    With my margin loan - BT - I have noticed that sometimes they update managed funds prices quite infrequently, eg 7-8 days. Sometimes they update more frequently, even daily.

    On closer observation, it seems that when the market is rising, they update more slowly. When the market is declining, they update more frequently.

    On reflection, the frequent updates in a declining market are a sensible way to manage their risk on margined funds.

    Has anyone else noticed this - and do you have any comments? It disadvantages the investor in a rising market, in terms of available funds. But protects the lender's position.
     
    Jane M, 8th May, 2006
    #1
  2. Nigel Ward

    Nigel Ward Well-Known Member

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    Must say I haven't really noticed that with BT. Altho the summary details seem to be one day behind. If you go into the transaction simulator the prices seem more up to date.


    Cheers
    N.
     
    Nigel Ward, 8th May, 2006
    #2
  3. Glebe

    Glebe Well-Known Member

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    Leveraged Equities still hasn't updated my holdings for Navrainvest's March distribution (reinvested dividends). How's that for slack!
     
    Glebe, 9th May, 2006
    #3
  4. Jenny__

    Jenny__ Well-Known Member

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    Glebe my account hasn't been updated either and on the April statement I see I have been allocated a new adviser. I thought it would be a courtesy to let me know this was happening. I rang to check this out but both my previous adviser and new adviser were too busy to speak to me! Guess I'm just a number.

    jenny :rolleyes:
     
    Jenny__, 9th May, 2006
    #4
  5. Glebe

    Glebe Well-Known Member

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    Hi Jenny,

    That occured to me too but I was sent a letter at least...
     
    Glebe, 9th May, 2006
    #5
  6. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    Guys,

    Talk to your adviser and tell them what's up. I have never ever had issues contacting someone when I needed to speak to somebody.

    Mark
     
    Mark Laszczuk, 9th May, 2006
    #6
  7. gad

    gad Well-Known Member

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    Leveraged Equities:

    If you contact your account manager they will explain the delay involved & also offer you a method of getting your account updated pretty well straight away.

    My account was showing the update the day after I faxed my statement to the number they gave me.

    I was also told a letter had been sent to all relevant clients explaining the change of account manager. I'm obviously irrelevant as I did not receive the letter either :rolleyes:
     
    gad, 9th May, 2006
    #7
  8. Glebe

    Glebe Well-Known Member

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    Sounds like we've all gone from Peter to Heather...
     
    Glebe, 9th May, 2006
    #8
  9. Simon Hampel

    Simon Hampel Founder Staff Member

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    I was with Warren at LE - who has also left. I'm currently managerless - they haven't told me who Warren's replacement is yet. They gave me 4 names to call on if I needed something.
     
    Simon Hampel, 9th May, 2006
    #9
  10. Mark Laszczuk

    Mark Laszczuk Well-Known Member

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    I had a meeting with my contact up here on Monday, who told me quote 'Heaps of people are leaving to go to Macquarie, because they'e offering better pay.'

    Seems to be a lot of commotion going on at LE just now because of that. I think some patience while the dust settles might be the order of the day.

    Mark
     
    Mark Laszczuk, 10th May, 2006
    #10
  11. gad

    gad Well-Known Member

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    Evidently Peter has not left LE:

    "Peter has moved internally to take on a sales role. This is an exciting and deserving opportunity for him."
     
    gad, 10th May, 2006
    #11
  12. Jenny__

    Jenny__ Well-Known Member

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    Just opened statement from LE dated 1.6.06.

    Interest rate has jumped from 7.85% to 8.10% - no notification of this??

    In fact the statement dated 1.5.06 says interest rate May 7.85%
    statement dated 1.6.06 says interest rate May 8.10%

    How are others faring?

    J
     
    Jenny__, 7th Jun, 2006
    #12
  13. Glebe

    Glebe Well-Known Member

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    My variable loan is 8.1% with LE, if I prepay I can get 7.85%. Hmmm.
     
    Glebe, 7th Jun, 2006
    #13
  14. MJK__

    MJK__ Well-Known Member

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    Well just to give another lender a go... I'm with St George Margin Lending. And yes they do update infrequently. I havn't got a handle on how infrequently but it wouldnt be weekly. In a falling market its not an issue though.
    And yes my rate went up 25 basis points the day the RBA anounced the last rise.
    By the way the customer service is great. Rock solid.:D

    MJK:D
     
    MJK__, 8th Jun, 2006
    #14
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