Index-tracking ISA and "buy in" price

vmp

I'm thinking of getting an index-tracking ISA with Legal and General - probably the UK Index or UK 100 Index one.

Once my application is processed, is my money immediately invested (so say the FTSE 100 was at 5050.60 when the application was processed, would that be my entry point) or is it within the ISA and I decide when to invest?

I intend to hold it for the long term, but would still like to get the best price. Is an index-tracking ISA suitable for that, or should I be looking at an ETF for that amount of control?

Thanks

dunstonh

I'm thinking of getting an index-tracking ISA with Legal and General - probably the UK Index or UK 100 Index one.

Why?

Once my application is processed, is my money immediately invested (so say the FTSE 100 was at 5050.60 when the application was processed, would that be my entry point) or is it within the ISA and I decide when to invest?

its done within 24 hours of them getting the application.

I intend to hold it for the long term, but would still like to get the best price. Is an index-tracking ISA suitable for that, or should I be looking at an ETF for that amount of control?

ETF's are better for index tracking.

However, before you do anything I suggest you do a bit more research. For example, the L&G 100 index tracker has spent most of the last 14 years in the bottom quartile in its sector. The FTSE all share is typically mid table every year (due to its make up). They are both medium/high risk and that is above the average risk profile of a novice investor.

Also, single fund investing is old fashioned, poor quality investing and will lead to lower returns over the long run.