Investing in investment funds is slightly different from investing in products such as stocks and ETF's. This is because these products are freely traded, whereas shares in an investment fund are traded on a fixed moment set by the issuer of the fund.
Once every business day, we collect all outstanding orders from our clients and send these to the respective issuers. When a fund is traded via Euronext Amsterdam, this will happen at 15:55 CET. If the fund is not listed on this exchange but instead trades via Global Fund Services, the cutoff time is 14:55 CET.
The moment of execution is determined by the issuer of the fund and is generally once every business day. However, it is also possible that a fund trades weekly, monthly, or even quarterly. The orders that have been sent to the issuer will be executed against the Net Asset Value (NAV) of the fund at the moment of execution.
It is therefore customary that the processing and settlement of a buy or sell order in an investment fund could take a while. For more information about the specific moments of execution and/or settlement of a specific fund, you can consult the KID ('Key Investor Document')/KIID ('Key Investor Information Document') of the fund, visit the website of the issuer, or contact the issuer.
Furthermore, we send the orders to the issuer via aggregation. This could mean that you will not receive the maximum number of shares in the fund as you would have expected with your investment. Unfortunately, DEGIRO cannot influence this.
Finally, it is important to know that once an order is sent to the issuer, it can no longer be canceled.