Understanding Mutual Funds in Model Portfolios
Instructions
Add and manage Mutual Funds as you would other supported asset types. However, due to how they execute and clear, mutual funds pricing within your model works differently.
After you submit an order in a model that contains mutual funds:
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Just before the markets close, the Trades report (with an ID ending in "01) will indicate that the order has been sent to the fund, but hasn't been filled. This means that within your model, the position will not update because the fund shares are not yet in the model, and the market value will be reduced by the amount of the order (for a buy).
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After the Mutual Fund order fills, a second trade report is displayed. This could be on the same day after the markets close, or it could be days later. This report indicates that the order has been filled by the fund. Once this report is received, the mutual fund position is updated in the model, and the market value will also be refreshed to include the purchased shares (for a buy).
See instructions to add Mutual Funds to models.
Additional Resources
Learn About Model Portfolios in Trader Workstation at IBKR Campus