Investment Funds- Dividend Payment Rules

[boon]

Hi All,

I have a small value portfolio of many different funds, and I have a new strategy so will soon be "clearing out the dead wood" and re-investing as I see fit.

When I do this with shares, I always look at the ex dividend dates etc and time the sale of my holdings in an attempt to maximise my return. I plan to do the same with my funds i wish to cash in- but do the ex-div and pay dates work the same as they do with shares?

IE say I want to sell my holding in a fund, and the ex dividend date was 01/01/2018, and the payment date is 31/01/2018. If I was to sell today, 18/01/2018, will I still be due payment on the 31st?

The reason I ask is that as far as I understand, if you purchase accumulation units of these intruments then the payment goes into your capital directly- like a re-nvested dividend on a share. How would that work if you no longer hold the fund?

I can see how it would work on income units but as I've never tested the theory, I thought i'd ask first. I have a mixture of ACC and INC units i wish to sell.

The likelyhood is that it may only make a few pounds difference to my return, but I always like to maximise what I can to the best of my knowledge!

Cheers in advance for any answers and thanks for reading