Good investment vehicle

follyfoot

I have £50k to invest and would like to try and double my money by next year - can anyone recommend a good investment vehicle?

dunstonh

Pension, ISA, OEIC, Unit Trust, SIVAC, REIT, IT, Investment Bond, ETF, Shares....

these are the more common UK investment "vehicles", although generally referred to as tax wrappers nowadays. Of course the tax wrapper should be the secondary concern. The primary thing to look at is where you want to invest the money and what risk do you wish to take. Your goal suggests very high risk but what can go up 100% in 12 months can also go down 100% in 12 months. Are you prepared to accept that?

crossleydd42

Shares are no use (even if you picked the right ones) because you only want to tie up the money for one year. I can only suggest an ISA (sadly only for £3000 at this time of the year) and the best-paying savings account around for the rest.
The best savings account I know is cahoot which pays 4.85%AER. See http://www.cahoot.com/cahoot_products/cahoot_savings/savings_easy_access.html

The best ISA I know is Bradford & Bingley - 5.00%AER (paid gross)
http://www.bradford-bingley.co.uk/savingsandinvestments/eSavingsISA.asp

follyfoot

I obviously dont want to lose the money, but i know in order to get the greatest return i have to be prepared to take a higher risk than normal - so yes. It is a gamble i am willing to take. i would not put all my eggs in one basket

follyfoot

crossleydd42 wrote:

Shares are no use (even if you picked the right ones) because you only want to tie up the money for one year. I can only suggest an ISA (sadly only for £3000 at this time of the year) and the best-paying savings account around for the rest.
The best savings account I know is cahoot which pays 4.85%AER. See http://www.cahoot.com/cahoot_products/cahoot_savings/savings_easy_access.html

The best ISA I know is Bradford & Bingley - 5.00%AER (paid gross)
http://www.bradford-bingley.co.uk/savingsandinvestments/eSavingsISA.asp

i was looking at shares since i thought this would be my best option?

strawberrylane

sounds like you're into gambling, why not go down the bookies then?

follyfoot

strawberrylane wrote:

sounds like you're into gambling, why not go down the bookies then?

because i would most definitely lose!

moneytroll

Would you not rather want to double your money by taking a little more time with significantly less risk? 50k is a good sum and it would be a shame if you lost most of it... A well-diversified portfolio over 5-10 years could be a much safer bet, IMO. You really have to be prepared that 50k can get wiped out easily.

follyfoot

moneytroll wrote:

Would you not rather want to double your money by taking a little more time with significantly less risk? 50k is a good sum and it would be a shame if you lost most of it... A well-diversified portfolio over 5-10 years could be a much safer bet, IMO. You really have to be prepared that 50k can get wiped out easily.

i had earmarked the money for contributing towards a mortgage which i would like to have available for next year. i have managed to double my money by investing on AIMS but i have only invested small amounts between £500 and £3000

Chrismaths

One way to get a return this large (with a commesurate level of risk) is gearing (ie borrowing money to invest). There are many ways to do this - capital shares of split capital investment trusts, warrants, options, CFDs. Just make sure you limit your risk to the amount you invest. If you want to bet on a rising market, you could buy a selection of guaranteed CFDs to gain some diversification. This is NOT for the faint hearted, or really for the inexperienced investor, but to double your money, you need to take large risks.

follyfoot

Chrismaths wrote:

One way to get a return this large (with a commesurate level of risk) is gearing (ie borrowing money to invest). There are many ways to do this - capital shares of split capital investment trusts, warrants, options, CFDs. Just make sure you limit your risk to the amount you invest. If you want to bet on a rising market, you could buy a selection of guaranteed CFDs to gain some diversification. This is NOT for the faint hearted, or really for the inexperienced investor, but to double your money, you need to take large risks.

i obviously need to take some advice. any ideas who i might turn to next?