Please help us re gartmore ISA

snoozeulose

Hi there, can anyone help, we have noticed that we have lost an obsene amount of money with our Gartmore mini ISA, in the last 12 months, which we have had for years. Can anyone give us advice of what to do now or if they have had a similar exerience. It appears that the money is invested in shares, should we hang in for the long haul or cut our lossses now.

From thick but learning:mad:

Blah99

snoozeulose wrote: »

Hi there, can anyone help, we have noticed that we have lost an obsene amount of money with our Gartmore mini ISA, in the last 12 months, which we have had for years. Can anyone give us advice of what to do now or if they have had a similar exerience. It appears that the money is invested in shares, should we hang in for the long haul or cut our lossses now.

From thick but learning:mad:

If you don't need the cash immediately, just leave it there. Do you know exactly what your S&S ISA is invested in? You should have a quarterly or biannual summary statement that gives you this information.

dunstonh

You mention the provider but you dont mention the investments. What are they?

snoozeulose

They do not seem to state what the investments are although I believe that they are not restricted in what they do. I have just worked out that I have lost over £1,400 in the last 12 month on a capital of just over £6,000. If I should stay should I keep paying in every month as I have been?

Blah99

As dunstonh says, Gartmore is just the provider. It's like me asking you what exact bank account you use for savings, and instead of saying "NatWest eSaver with the 2% bonus", you just say "Natwest". Of course Natwest has loads of different account types, and Gartmore has loads of different funds.

You need to find out what fund(s) your money is invested in. You need this information to make a proper decision about what to do, because you won't want to take the same approach for an emerging markets fund that you do with a UK mid cap fund, for example.

Your likely course of action is to either wait it out without paying more money in, or continue to pay in to get pound cost averaging and to gain the benefit of the drop in the market.

Do you need this money for anything? Can you leave it untouched for the next 3 - 5 years?