Scottish Widows oeic

lammy2203

I need a little advice
In October 2007 i came into a little money (Lottery Win) and never having money before paid off my debt and banked the rest with Lloyds and of course got the sales patter and an appointment with there Financial advisor. He advised me to invest my money (£25000) in the Scottish Widows Dynamic income Portfolio A Acc and showed me all sorts of pretty graphs telling me how much it would grow and i fell for it.So i put £7000 into a share isa (same fund) and the rest into the fund. The share price at the time was i think 146 pence, as of today it is at a worrying 118 pence and going down the total value of my shares is just under £19000. Should i now cut my losses and withdraw the money or should i ride out the storm and wait the full 5 yrs and hopefully get my money back. I have given up hope of making any money on this now.

Just_landed

lammy2203 wrote: »

I need a little advice
I have given up hope of making any money on this now.

I am going to stick my head above the parapet and say close your eyes for 5 years at least and prey alot you just might get your money back or more, all depends on the FTSE price at the time if it's rising at a guess your stock will be going up in value and if it's going down enough said. It's all down to timing. Alternative :- cash the fund in and lose the difference forever.
IN MY OPINION.:cool:

You are not the only one who fell for it at LLOYDS

lammy2203

Thanks
I look at the FTSE every day and my shares its all so confusing, the FTSE makes a big leap up and my share price goes the other way and then the FTSE goes down and my shares go up, its all so damm frustrating and confusing

Just_landed

lammy2203 wrote: »

Thanks
I look at the FTSE every day and my shares its all so confusing, the FTSE makes a big leap up and my share price goes the other way and then the FTSE goes down and my shares go up, its all so damm frustrating and confusing

Ride the storm I have since 1990 but don't forget to get out on a high, I wish I did twice now just kept thinking another £100.00 and I will cash in. One day I will get it right. :wave:

lammy2203

Thanks dont worry i will, if i evr get even will seek an independanf advisor and see what advice i get from him, should have done this first but you just get sucked into believing that advice from someone in a bank is good advice, how wrong we have been shown to be

tomstickland

I received a mild sell on Scottish Widows from a Lloyds TSB advisor. Then I went home, Googled it and almost immediately found a load of reports about the poor performance of their funds.

Seeing how the money was a lottery win I'd consider cutting some of the losses, since you've lost "free money".

You should consider risk free savings as your first level and investments as long term projects.

Just_landed

tomstickland wrote: »

I received a mild sell on Scottish Widows from a Lloyds TSB advisor. Then I went home, Googled it and almost immediately found a load of reports about the poor performance of their funds.

Seeing how the money was a lottery win I'd consider cutting some of the losses, since you've lost "free money".

You should consider risk free savings as your first level and investments as long term projects.

All in all I agree. Next time. IE cash ISA's slow but sure.

dunstonh

The fund is pretty rubbish and always has been. Putting 100% into it was a bad move but consistent with bank based advice as they are not allowed to portfolio plan.

its just over 60% fixed interest with 25% uk equity and the rest a spread of international. It achieves this by reinvesting into other SW funds making it a fund of funds but only using SW funds not whole of market.

whiteflag_3

Just_landed wrote: »

All in all I agree. Next time. IE cash ISA's slow but sure.

Why would you want to make sure that your money is losing value in real terms?

:rolleyes:

whiteflag_3

dunstonh wrote: »

The fund is pretty rubbish and always has been.

compared to what?

dunstonh

whiteflag wrote: »

compared to what?

strawberries