Intermediaries wanting to deal in unit trusts and Oeics will be able to do so on Christmas Eve, 29 a...
Intermediaries wanting to deal in unit trusts and Oeics will be able to do so on Christmas Eve, 29 and 30 December.
Most fund management groups have said their dealing hours will be broadly in line with the opening hours of the London Stock Exchange.
The Exchange closes on Christmas Eve at 12.30pm while the majority of groups will be closing at lunchtime on 4 December, although Deutsche Asset Management said that it would close at 4pm and M&G said it would close at 2.30pm
IFAs will be able to deal again in unit trusts when the Exchange re-opens on 29 December for one and a half days as it closes again at lunchtime on 30 December. It is then closed over the new year period until 9.30am on 4 January.
As reported in Investment Week last week fund managers believe trading will be thin and many groups are looking to limit the number of trades within funds during the Christmas and New Year period.
Fund managers at Royal & SunAlliance for example will only look to deal if there are large inflows or outflows from funds.
The expected thin trading is partly due to worries about the millennium bug.
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