Frequently Asked Questions – UK OEICs
Dealing Procedures
Can I buy, sell or switch shares over the telephone?
If you are investing in an ordinary OEIC or ISA wrapper product we accept payment by cheque. Cheques drawn on an account other than a UK Bank/Building Society account denominated in Sterling will not be accepted.
Should you place your investment instruction by telephone, or by using our web site then payment by Debit cards for investments up to £25,000 are also acceptable. The cardholders name must match that of the registered holder of the investment and cleared funds must be available in the account. New non-UK investors must apply in writing. We do not accept credit cards as a method of payment.
OEIC Dealing Line - +44 (0) 800 833 580
ISA Dealing Line - +44 (0) 800 262 443
Lines are open between 9am to 5pm, Monday to Friday.
Investments to be made on a regular monthly basis can be authorised via completion of a direct debit mandate permitting Aberdeen to collect funds from a UK Bank/Building Society account. Again the account name and registered holders name must match.
We can only accept applications for ISA Transfers in writing using the appropriate Aberdeen Transfer form. We cannot accept ISA Transfers over the phone or via the Internet.
How are the prices determined for these deals?
We deal on a forward basis. This means we deal each instruction we receive using the next valuation point. We value our OEIC sub funds each working day at 12.00 noon, based on the value of the underlying stocks and shares.
Do I have cancellation rights or a "cooling off" period after I place a deal?
If you received financial advice and made your investment through an Independent Financial Adviser (IFA) you have the right to cancel your investment. You will receive a cancellation notice that you must return to us within 14 days of receipt if you wish to cancel. However, you may not receive a full refund of your investment. If the purchase price of your investment falls we will reduce the amount of your refund by this fall in price.
If you do not invest through an IFA, you do not have the right to cancel your investment. It is expected that you have conducted your own research and are sufficiently informed about your investment.
If you use a discount or execution-only IFA you may not have the right to cancel your investment as you have not received advice. You should check with your IFA if you are unsure.
If I need to raise some funds after I have invested how quickly can this be done?
When we receive your sale instruction, we will sell your shares at the next valuation point. We will send a cheque for the full amount, four working days following the dealing date.
If you place a telephone deal, we need your written confirmation before we can send out the cheque.