Mutual funds trade differently to exchange-traded instruments, such as stocks, ETFs, and investment trusts, because they aren’t traded throughout the day. Instead, mutual funds are traded once per day after markets have closed.
Mutual funds are traded on a forward pricing basis, meaning the price you see will be different to the price you may trade at. This is because mutual funds are priced once daily by the fund managers, using a net asset value (NAV) calculation.