My SIPP

margaretclare

EdInvestor and Dunstonh, possible help!

Friends Provident will soon have sent a cheque for my Open Market Option to Hargreaves Lansdown. This is from my FP stakeholder to my SIPP.

I'll have approx £8400 or so (depending on the FTSE on the day!) to put into my SIPP. Hopefully it can stay there and grow for another 4 years, up to August 2010.

I had thought of splitting it into 4 tranches of £2K each, with the remaining odd few hundreds staying as cash. According to what I've been reading, an Income Accumulator Trust should form the backbone of anyone's portfolio. However, I do prefer 'ethical' investments.

Artemis High Income is highlighted in Citywire, but how ethical is it?

I've thought of Henderson Ethical Global Growth for one of the £2K tranches - any other ideas/suggestions? I'm NOT asking for advice, and I do my own research.

Best wishes

Margaret Clare

[Deleted User]

http://www.artemisonline.co.uk/products/unit_trusts/high_income.asp

margaretclare this artemis high income fund is run by two of the best fund managers in the business. I hold a large tranche myself in my sipp

[Deleted User]

another link for you re the artemis high income fund

http://www.morningstar.co.uk/funds/overview.asp?pid=-1&cid=FXXIN01282&curiso=GBP&lang=en&country=GB&lastpage=Quickrank&lastpageURL=%2Fquickrank%2Fdefault.aspx%3Fsearch%3Dartemis&advisor=&graphPeriod=31&graphCompare=4869&graphcuriso=GBP&submit1=Draw+Graph

I just watched the film about the fund on the artemis website. Net yield on this fund is 5.3%

cheerfulcat

Hi, margaretclare,

You might be interested in the Ethical Investment Research site, here, which has a fund selector. There is a list of ethical funds here, as well.

HTH

Cheerfulcat

margaretclare

Thanks very much, cheerful cat and kittie.

Will give it some serious thought. I guess the next step will be when FP send the cheque to HL and I'll then have to decide what to do with it.

Best wishes

Margaret Clare

EdInvestor

What have you already got in your ISA Margaret, just so we don't double up? There's not as big a variety of ethical choices as one might like.

margaretclare

Hi Ed

Just a bit of an update: there is more delay in transferring my fund from FP to HL Today I received yet another packet of forms, leaflets, booklets etc from FP on the assumption that I'm retiring and applying for an annuity!!!

I swear to God, I'll have died of high blood pressure caused by frustration, before I ever get to either retire or put my fund into a SIPP!!!

I have phoned FP and put in a serious complaint, and I await them coming back to me. Part of the problem has been when one of their helpdesk staff said 'oh, you want an Open Market Option' and I thought that WAS what I wanted. In fact, it's not that at all! Open Market Option just means that you're going to take the annuity only not from them, from another provider like Prudential or Norwich Union. This is when an IFA searches the market for the best-paying annuity at the time.

FP now understand this is NOT what I want, they've got all the forms and no reason why it shouldn't all happen - but WHEN?

Anyway, back to your question. I haven't got a lot in the ISA because I only started it at the beginning of this tax year.

£200 in Standard Life UK Ethical Fund
£100 in F&C Stewardship Inc Acc
£100 in New Star UK Strategic Income Unit Trust

I actually waver quite a lot between being 'ethical' and wanting to maximise my fund - I've only got another 4 years to do it in!! Obviously I wouldn't agree to e.g. Coca Cola poisoning the water supplies of Indian villagers, destroying more rainforest, those kind of things. But.....?

Margaret Clare

whiteflag_3

margaretclare wrote:

£200 in Standard Life UK Ethical Fund
£100 in F&C Stewardship Inc Acc

I actually waver quite a lot between being 'ethical' and wanting to maximise my fund - I've only got another 4 years to do it in!! Obviously I wouldn't agree to e.g. Coca Cola poisoning the water supplies of Indian villagers, destroying more rainforest, those kind of things. But.....?

Margaret Clare

The funds above invest in the Royal Bank,HSBC, Tesco , Cairn Energy , Vodaphone , BA etc I fail to see how any are particularly ethical.

I was recently discussing ethical funds with a fund manager and we both agreed that by launching an unethical fund was the only way the fund would do "what it said on the tin".

Banks ethical -pull the other one!:D

margaretclare

Just an update on my post #7 of 11th May.

It has all happened!

The fund from FP finally was £8417.72. This has been split into 2 tranches of £4208.86 each and here they are:

Aegon Ethical Corporate Bond
Morley Sustainable Future UK Growth

Now, I thought the whole idea of a SIPP was that you made your own choices. I'm already doing that in my equity ISA. However, I've never heard of these 2 particular funds. So who decided they were what I would like? It can only have been someone at Hargreaves Lansdown. Are they thought-readers, or what???

Any thoughts?

Margaret Clare

brasso

I don't quite understand that, Margaret.

If you have had your FP fund transferred to HL, then unless you have pre-requested where you want your money to go, it will arrive in your HL account as "cash", awaiting your instructions. That's what happened to me when I transferred an FP fund to HL.

I can only assume that you have either unwittingly requested that HL choose some ethical funds for you, or that your money is invested in these funds at FP and that you have requested that the same funds are invested in at HL.

Either way, if you're not happy, just contact HL and ask them to be sold. You can do this online as well.

margaretclare

Hi brasso

Thanks for your response. It seems I made those choices when I completed the application form and sent it to H-L. I don't know whether I had a mental blackout or what on that particular day, because although I remember sending off the form and choosing H-L rather than SIPPdeal (just because HL explained it all in words I could understand) I don't remember choosing those 2 particular funds and I don't remember where I got them from.

I spent a happy hour yesterday looking at ethical funds on different sites and then 'switching' online. As you said, this was easy to do.

No, my stakeholder money was invested in FP's own Stewardship Income Fund. I did expect that it would be transferred as cash and that I would make my choices from there. So I was very surprised and amazed when I logged-on and found those 2 funds, and then a couple of days later HL's letter in which they said 'we have received your investment instructions'.

I've sent them an email asking for a copy of the application form in which I put down those funds as my choice.

What actually concerns me much, much more than the funds themselves, is the fact that I have no memory of choosing those particular ones, I don't know where I got them from, and I just cannot remember!

At my age, this is one of the things that worries me most - doing something without remembering that I did it.

Margaret Clare