Hargreaves are launching a new UK growth fund next week. Is there any particular reason to get in at the start?
I figure it's not like an IPO? The fund value is based on performance, right, not market perception?
No. A mutual fund is nothing like an IPO. The price of the fund shares will always reflect the value of the underlying stock, and new money coming in with continue to be invested the same way, i.e. by those managers trying to achieve their stated objective. If on the open day, the demand is great, the next day the fund will have a huge influx of new funds to invest. This would have zero impact on the share price.
In response to the comment below, this is a snapshot of a transaction form on Schwab.com
SNXFX is an index created by Schwab for their Schwab 1000 stock index. While "Units" may be technically correct, (I'd agree) it's normal to call these shares, and even the broker's site won't always attempt otherwise.