I'm looking to purchase some of the following fund in our iWeb stocks and shares ISA
Schroder High Yield Opportunities Z Acc GB00B83RDY83
On the specification of the fund, published by iWeb it lists the following information:
Initial charge: 0.00%
Ongoing Charge Figure (OCF): 0.72%
Performance Fee: N/A
Transaction Fee: 0.5% (based on industry average)
*Dealing commission: £5.00
I understand that the £5 dealing commission is just the commission that iWeb take any time we buy or sell any units/assets. I think that OCF is an annual charge that is taken from the fund's values day-by-day (i.e. charge * 1/365). But what exactly does the 0.5% "Transaction Fee" mean? I did wonder if it is something specific to iWeb, since it does not seem to be mentioned in the literature on the Schroders website.
https://www.schroders.com/getfunddocume ... .9.3030047
many thanks,
Matt