Hey Rob, unfortunately that is all pretty standard when redeeming your units in an unlisted managed fund.
It's a big disadvantage, as you say, not being able to sell at your nominated price, at your nominated time.
It's not just like that when selling. The last couple of funds I have invested in took up to two weeks - from the time the money was sent to registering the purchase of units.
There is a reason most people buy exchange based ETFs now.
