Curious Quinn-life Fund Price today

I have an investment with quinn-life and I check the fund prices regulary.

When I looked today I was surprised the see the 3 US Funds down 0.52% from yesterdays price.

I thought this odd as the US stock markets were closed yesterday, so i expected to see no change in todays prices.

Anyway I emailed quinn-life a few hours ago, and the reason I got was the the dollar currency went down yesterday.

Surely this cannot be a valid reason, The fund price perfomance relates to how the stock indices perform, i.e the Quinn-life technology fund tracks the Nasdaq.

It's an interesting question. The Nasdaq is an index, but it would be a dollar index as the underlying shares are in dollars.

Brendan

All an index fund does is buy shares in the underlying companies in the same proportion as the index. Once you convert the value of the shares back into euros you are going to get currency differences.

Yes but there was no stock Market activity in the US yesterday, so there shouldnt have been a change in the fund price today, even if you take into account the currency difference.

Funds are generally priced at the end of each market day based on the individual share prices. The share prices didn't change ($) but the exchange rate did.

BTW, I assume you're not checking the price every day? You should be looking at something like a 5yr or greater horizon with this type of investment.

is the price your look at in euro, if so its the currency rise thats wiping out your gain!

I'm not checking the prices everyday but I checked todays and yesterdays. theres a feature thats lets you check the prices on any give date from jan 2006.

Without knowing more, it could be that the fund has a large $ cash balance which would affect the value if there were currency fluctuations. The fund was obviously priced yesterday but since markets were closed it would not have been able to trade off it's cash.