Dispute over encashment value of fund


I think there is just a mis-understanding. The fund NAV is updated at the end of each trading day. So the NAV you see listed is actually the price at yesterdays close. Usually, you won't know the exact NAV you are buying or selling at it will be based on the updated NAV at the close of the trade date and that price you won't see until the next day. Are you saying you are down €800 when you calculate the redemption amount based on correct NAV?
 
New Ireland saying that it is not the NAV listed the day after I submitted order but the day after again.
I am arguing that in writing and taped phone conversation I was informed what you have stated above the value I should have got is the updated NAV showing on the system the next day after I submitted order. Hope that makes sense.
 
Sounds like a T-1 fund i.e. you need to have your instruction in on the 24th to get a trade date of the 25th and therefore you will be using the NAV you see on the 26th. Sloppy if they told you the wrong information on the phone as these rules are usually laid out in the prospectus of the fund and are strictly adhered to. Get them to listen to the conversation. I have seen them compensate if you suits you to use the earlier NAV.
 
Got a call yesterday from New Ireland they will call this afternoon as review will be completed. Will update later. Thanks.
 
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