Stocks/Shares ISA

jem16

miserable_ol_so_n_so wrote: »

.......also look online for instance Virginmoney, Halifax etc etc......

Did you mean to pick two of the worst providers for S&S investments?

If you want advice choose an IFA and avoid a bank.

Aegis

rlfan82 wrote: »

Thanks for that?

Can I have a S&S ISA that is centrally managed by a 3rd party? Don't know enough about it really to be dabblin in that meself

The easiest way to manage that would probably be through a fund of funds. This is where you invest in an OEIC (Open Ended Investment Company - essentially a pot of money which is invested in a certain number of assets depending on the goals of the fund manager) which itself invests in other investment funds. This is a very straightforward and possibly lazy approach, and the downside is that you will end up having to pay two sets of charges because you have to pay the manager of the fund you invest in who then has to pay the various managers of the funds he invests in.

I don't personally hold any of these products because I prefer to take a more active approach in the management of my own portfolio, but I figured I'd throw it out there as a possibility.

Lokolo

Aegis - but even funds of funds usually have a specific agenda so you would have to research and learn what they are aiming, so technically not really 3rd party. Just reduces the risk. (and as you say, costs more)

Aegis

Lokolo wrote: »

Aegis - but even funds of funds usually have a specific agenda so you would have to research and learn what they are aiming, so technically not really 3rd party. Just reduces the risk. (and as you say, costs more)

Still, the idea of a fund of funds is quite appealing to some new investors just because a third party manages it often according to a risk profile rather than necessarily a geographical sector or other weightings. Unless you go to a discretionary management portfolio (very unlikely given the limits), there's no easy way to achieve the third party management of a stocks and shares ISA, so the fund of funds might be the simplest.

Of course, as I already mentioned I don't personally invest in them simply because the charges and the nature of the investments make them unsuitable for me.

a7man

rlfan82 wrote: »

Thanks for that?

Can I have a S&S ISA that is centrally managed by a 3rd party? Don't know enough about it really to be dabblin in that meself

You can invest in funds that are actively managed, these will take advantage of market positions investing in certain assets when they belive the time is right and protecting the money by investing in lower risk assets when they feel the markets will be more volatile.

You cant expect the funds to come top of any lists in terms of returns due to the controlled volatility.

An example is Tactica

k8r4u

Alternatively, if you don't want to have to manage the investment yourself, but still want a S&S ISA, you can just pik an index (e.g. FTSE100), buy an index tracker and wrap it in a S&S ISA. Google "index tracker" or "index tracking ISA" for providers.

Rather than bunging in lump sums and gambling on the direction of the market, a good way to run this is to make regular monthly payments that buy a number of units in the tracker fund each month. Dividends are automatically reinvested to buy you extra 'free' units in the fund.

Normal ISA rules apply: £7200 in a S&S ISA OR £3600 in a cash ISA and the remainder in the S&S ISA.

Blah99

Aegis wrote: »

Unless taxed at source in the case of dividends. You can't reclaim that 10% at-source tax even from inside the ISA.

Yep, that's what I meant by "inside" the ISA, but the no-reclaim is only in the case of equities. Bonds etc can be reclaimed.

Aegis

k8r4u wrote: »

Alternatively, if you don't want to have to manage the investment yourself, but still want a S&S ISA, you can just pik an index (e.g. FTSE100), buy an index tracker and wrap it in a S&S ISA. Google "index tracker" or "index tracking ISA" for providers.

Rather than bunging in lump sums and gambling on the direction of the market, a good way to run this is to make regular monthly payments that buy a number of units in the tracker fund each month. Dividends are automatically reinvested to buy you extra 'free' units in the fund.

Normal ISA rules apply: £7200 in a S&S ISA OR £3600 in a cash ISA and the remainder in the S&S ISA.

Of course, by buying a simple index tracker you're not managing the funds at all, you're just picking something that has an extremely narrow focus in the case of most indices. In some cases this might be better than third party management, but considering the nature of the question from the OP this doesn't seem like an appropriate suggestion.