Thanks for the reply.

Units sold Dec. 13, 10:45. ("order date and time" )

Dec. 13, 12:00 ("transaction date and time")

I was under the impression my telephone instruction should have been the date I cancelled.

Hello,

I doubt they would have waited to try and get advantages from the money you invested... it would depend AXA policy on what time scale they state to action the cancellation by.

Most companies will keep any small gain to cover the admin in setting up the OEIC however if the markets fall within the cancellation period the company is not liable.

Do you know which date they actual did the disinvestment?

Hello all, I am new to the forum and would appreciate any help with this problem.

Dec 1 (Thursday) Took out OEIC with Axa.
Dec 2 Tried to cancel by phone to Rep. when I got through he said he would ring me back, but never did.
Dec 5 Contacted Rep. Informed him I wish to cancel, he said it is now proceeding.
Dec 8 I Sent recorded delivery cancellation.
Dec 13 Axa cancelled.
Difference to fund from phone cancellation to actual cancellation (8 days) £325 loss.
If they had cancelled when I phoned, they (Axa) would have been in profit, and I would have received full refund.
My question. Should Axa have cancelled as I requested, by phone.
Axa rules state if the cancelled fund is in profit on cancellation they keep it, (fair enough) and if the fund has made a loss, I lose, (again fair enough), but they seem to have waited, expecting (hoping) the fund to increase, if it falls (as it did) they have still lost nothing.
I am sure this question must have been asked in prvious posts, and I must apologise if it has, I have tried several searches but I got nothing.
Thanks in anticipation.