How do I sell Funds online?
Log in to Davy Select and go to the Trading section
If you have any problems logging into the site, please read How do I log in.
When you click on the trading tab, the Trade Shares page is displayed.
Check that the Trade Type is set to "Sell"
Select the fund you want to sell from the drop down menu or the My Fund Holdings list
Funds that you hold units in are listed in the Fund Name drop down menu. Simply select the fund that you wish to sell.
The funds that you currently hold are also listed on the right hand side of the trading screen in the section titled "My Fund Holdings". Double click on the fund name in this list. This will enter the name into the Fund Name field.
Once you have selected your fund, the Last Price Per Unit, Frequency of Dealing and Deal Cut Off Time are displayed
Last Price Per Unit
The most recent price paid for a share in a fund, usually from close of business on the last dealing day. This is calculated by taking the total assets of a fund, subtracting the total liabilities, and dividing by the total number of shares in the fund after the close of the previous trading day. This value is used to determine the prices for buying and selling units in a fund.
The Last Price Per Unit is indicative only. Your order is unlikely to be dealt at this price. The actual deal price will be determined by the Fund Manager and may differ significantly from the last indicative price shown.
The currency that the fund is dealt in is displayed next to the Last Price Per Unit.
Frequency of Dealing
How frequently a fund is dealt. This could be daily, weekly, monthly or quarterly.
Deal Cut Off Time
Orders to deal funds must be sent to a centralised third party fund administrator, who then sends the order to the individual fund provider for execution on the next business day. The Deal Cut Off Time is the time by which your order must be placed to be included in the fund pricing for that day.
You should be aware that meeting the Davy dealing cut off time may not guarantee participation in the next pricing of the particular fund, due to the various cut offs being applied by relevant third parties. In certain circumstances, orders may not be executed for two or more business days. Please contact Davy Select should you require additional information in relation to specific funds.
The number of units available for you to sell is displayed in the Units field
If you want to sell your full holding of the selected fund, do not edit this number.
If you want to sell only a portion of your holding of this fund, enter the number of units that you want to sell.
Choose your settlement Currency
This is the currency that you will receive payment in.
Read the important information, and tick the box indicating that you have read it
It is essential that before placing any instruction to trade, you read and understand the Fund information provided. For example, the Fund Prospectus highlights the key risks of the fund, and so must be understood in full.
The information provided on the funds does not constitute investment advice from Davy, Morningstar or any related third parties.
If you are not satisfied that you fully understand this investment or are unsure about its suitability in the context of your own individual circumstances, you should separately seek independent investment advice prior to making a decision to invest or disinvest.
Using the Calculator allows you to see how much each trade will cost or recoup for you. It gives you a breakdown of the charges on the trade in both the settlement currency and the transaction currency. The settlement currency figures are an estimate, as a currency deal may be required.
If you are happy to proceed with the trade, click on Preview Order to review the details of your order before placing it.
On the Preview Order page you can review the details of your order.
If you are happy with the order and want to proceed, click Place Order.
If you would like to change the details of your order, click Edit Order to return to the Trade Shares screen and change your order
If you have changed your mind and do not want to complete the trade, click Cancel Order.
Order on the market
Once your order has been placed, you will receive a confirmation message on screen:
The details of the order are displayed on the screen. You can choose to check the status of your order by clicking on View Order Status. This will bring you to the Open Orders page, where all your current open orders are displayed.
Open orders are those currently working in the market and which have yet to be dealt in the market. Open orders can be valid for up to 14 days inclusive of weekends. Open orders include those partially executed where the order is partially dealt but not completely executed, or the order can be partially executed but where the remainder of the order is pending cancellation.
Open orders also include frozen and rejected orders. Frozen orders are orders that have encountered a problem at the exchange, and you will need to contact the Davy Select Dealing Desk on 01 614 8900. A rejected order is one where the market has not been able to execute the order at a price equal to or better than the limit that you set.
You may request cancellation of unexecuted and partially executed orders and we will try to act on your request. However, we cannot guarantee that you will be able to cancel any order, as it can depend on the status of the order in the market.
Confirmation of Trade
When your order has been successfully executed, a confirmation email will be sent to the address registered to your account. These emails are also saved in your Davy Select Inbox.