Hoping one of you more experienced guys can help me out on this one. It's probably pretty simple to answer so apologies in advance!
I've got a modest sum in an accumulation tracker fund in the UK. The dividend payment date was mid-July. It pays this dividend once a year.
I've had some paperwork through to say that I was due a small dividend payment on this date - but I've received nothing.
The fund I chose had an accumulation or income option (I chose the former).
I thought that any dividend payment would automatically buy me more shares of the fund I was in (as oppose to putting the dividend payment as cash into my bank account).
However - have I misunderstood how accumulation funds work? Does the dividend payment not buy you more shares automatically?
I've tried calling the bank a number of times but their lines are always 'busy'. Great support for investors. If anyone could clarify how these funds work it'd be really appreciated.
I've got a modest sum in an accumulation tracker fund in the UK. The dividend payment date was mid-July. It pays this dividend once a year.
I've had some paperwork through to say that I was due a small dividend payment on this date - but I've received nothing.
The fund I chose had an accumulation or income option (I chose the former).
I thought that any dividend payment would automatically buy me more shares of the fund I was in (as oppose to putting the dividend payment as cash into my bank account).
However - have I misunderstood how accumulation funds work? Does the dividend payment not buy you more shares automatically?
I've tried calling the bank a number of times but their lines are always 'busy'. Great support for investors. If anyone could clarify how these funds work it'd be really appreciated.