Sell Timing: what price used to calculate?

[cocacola]

Just looking at the eMaxis Slim All Country price right now and the price on the MUFG fund site is -504円.
However, on my brokerage site, Monex, the price is +274.

They were both at +274 earlier today, but I guess the MUFG site updates faster/earlier because the eMSAC fund is, after all, an MUFG product.

Question: if I were to sell some of my eMSAC units on Monex at, what seems like a +274円, what price does the system use to do the calculations?

Does the system use the price upon moment of execution? Or does it use the price when the shares are finally sold? (in my experience, it takes about a week to process)

I would think it's the most fair to use the price upon moment of execution. Could someone confirm/correct this assumption?

[Deep Blue]

Of course the price you achieve will be the paid it is executed at in the market, not the last traded price displayed on a website.

[cocacola]

Of course the price you achieve will be the paid it is executed at in the market, not the last traded price displayed on a website.

Ah, so it's impossible to time the sale, then?

Drat.

Thanks for the correction.

Edit: but, on the flip, when you buy shares, isn't the displayed price the buy price? Buys are executed (at least on Monex) instantly. Dunno why sells take so darn long...

[RetireJapan]

Mutual funds are not bought and sold in real time, unlike stocks and ETFs.

Instead they are bought and sold at set times, usually once a day.

This makes them a bad choice to day trade

[cocacola]

Mutual funds are not bought and sold in real time, unlike stocks and ETFs.

Instead they are bought and sold at set times, usually once a day.

This makes them a bad choice to day trade

Oh, I wasn't thinking of day trading it... I am considering selling a bit from my tokutei account. Just trying to figure out if there is a strategy to maximize my sell price for it.

[Deep Blue]

Of course the price you achieve will be the paid it is executed at in the market, not the last traded price displayed on a website.

Ah, so it's impossible to time the sale, then?

Drat.

Thanks for the correction.

Edit: but, on the flip, when you buy shares, isn't the displayed price the buy price? Buys are executed (at least on Monex) instantly. Dunno why sells take so darn long...

Mutual funds are priced once a day. I don't know the exact rules around what price you get here, but usually you get the next NAV price for transactions. The reason is simple, even if a fund is priced at midday on Tuesday the underlying assets are traded and priced after that. So the asset manager doesn't want you ripping them off trading on stale fund prices - if the equity markets soar 5% on Tuesday afternoon obviously you would be very happy to buy at the Tuesday lunchtime price - you're getting a discount of 5% and ripping off the other unit holders of the fund. The converse is true for sells.

For this reason, sensible asset managers will prevent themselves being arbitraged and give you the next NAV point. However I never bought a mutual fund in Japan so don't know the local practise.

[ChapInTokyo]

Mutual funds are not bought and sold in real time, unlike stocks and ETFs.

Instead they are bought and sold at set times, usually once a day.

This makes them a bad choice to day trade

Oh, I wasn't thinking of day trading it... I am considering selling a bit from my tokutei account. Just trying to figure out if there is a strategy to maximize my sell price for it.

There's a Q&A about the pricing of mutual funds on the Monex site:
https://info.monex.co.jp/fund/beginner/faq/qa13.html



Basically, with mutual funds, you have to focus on the long term gains rather than trying to maximise gains from market jitters. With something like an eMaxis Slim All Country one thing you can do is to maybe avoid selling it when the BoJ has done their intervention thing and the yen's strengthened a bit. You'll get more yen for the buck if you can time it so the yen's a bit weaker again...

[Mrblobby]

cocacola, it's quite funny how you seem to have many of the same questions that I had last year.
(If you look back at some of the posts I have made, you might find some more!)

Here's my understanding, which I believe to be correct.

For Japan-only funds (eg Nikkei, Topix), if you confirm your sell before 3pm, you'll get the price that was announced that evening.
In effect, you'll get pretty much how the market closed that day at 3pm.

For funds that have non-Japan elements, if you sell before 3pm, you'll get the price that was fixed up the following evening.
I was lucky in that when I made my sale last week, the fund went up quite nicely in that 24 hours. Let's lucky!
Obviously, it would have been less excite if it had gone down.

[cocacola]

cocacola, it's quite funny how you seem to have many of the same questions that I had last year.
(If you look back at some of the posts I have made, you might find some more!)

Hrm, I will stalk your past posts and see if I can learn more! Glad I am not the only one with these questions. Cheers!

Here's my understanding, which I believe to be correct.

For Japan-only funds (eg Nikkei, Topix), if you confirm your sell before 3pm, you'll get the price that was announced that evening.
In effect, you'll get pretty much how the market closed that day at 3pm.

For funds that have non-Japan elements, if you sell before 3pm, you'll get the price that was fixed up the following evening.
I was lucky in that when I made my sale last week, the fund went up quite nicely in that 24 hours. Let's lucky!
Obviously, it would have been less excite if it had gone down.

So, since the eMaxis Slim All Country, since it is a global fund and contains elements outside of Japan, if I sell before 3pm, the sell price will be what will be determined the following evening? And if I sell after 3pm...? Would the price be what is determined the day after?

Your Janglish is hilarious.

[Mrblobby]

So, since the eMaxis Slim All Country, since it is a global fund and contains elements outside of Japan, if I sell before 3pm, the sell price will be what will be determined the following evening? And if I sell after 3pm...? Would the price be what is determined the day after?

I believe that to be correct, yes.
If you sell after 3pm, add 1 full day.
It seems to me that it is best, for healthy lifestyle, to make your these decision and take action around 2:30-2:45pm.

(RE: English. File under been in Japan way too long!)