Shares ISA - Need advice on good basic service with £1 minimum opening please

jonnyguitar

Hi there, I have about £100 a month I want to start investing. I don't know what I'm doing in terms of shares or anything, so wondering if one of you could help me please.

I am looking for a med/high risk portfolio for a shares ISA, with a low initial payment (no more than £100 please. I've seen a few for £1?).

Can anyone help? Maybe I should be going for a cash ISA instead?

Thanks

Lokolo

Investing should be considered longterm for someone extremely new and without expert stocktrading knowledge.

If you are willing to save for 5-10 years or so then we could start talking.

If you want to do a regular commitment look carefully at who you want to invest in and why. Build up a portfolio of around 10 companies to start with, and don't do them all in the same sectors.

Once you have done this, then look for places to invest.

Halifx sharebuilder is good place to start..... http://www.halifax.co.uk/sharedealing/products/halifax_sharebuilder.asp

Going into it straight away is a bad idea though! Take your time.

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However saying this, its usually a good idea to build up cash savings, of around 3-6 months of your salary as investing should be done with money you can afford to lose. Cash savings are a good fallback if you should lose your job, car and so fourth.

jonnyguitar

Thanks. I was hoping for something a little more pre-configured really. I don't have the time or knowledge to start building my own portfolio.

I just need a really basic shares ISA I can start paying into right away....?

Lokolo

jonnyguitar wrote: »

Thanks. I was hoping for something a little more pre-configured really. I don't have the time or knowledge to start building my own portfolio.

I just need a really basic shares ISA I can start paying into right away....?

You can go to a bank and they can set it up for you but they are pretty poor products. If you wish to invest, best bet is to learn the subject, research what you want to invest in, then go for it. Which you seem not wanting to do..... so stick to Cash ISAs

jonnyguitar

As I say I don't have the time or interest to become an expert in shares really. I guess what I am trying to say is - Are there shares ISA's that I can pay into as easily as Cash ISAs?

Lokolo

jonnyguitar wrote: »

As I say I don't have the time or interest to become an expert in shares really. I guess what I am trying to say is - Are there shares ISA's that I can pay into as easily as Cash ISAs?

Yep, with banks, but they are poor products. It just seems as though you want to shove money anywhere and pray that you get something back. If you want to go this route then go to a bank and say you want to invest some money, but by all means, you could end up with nothing.

jonnyguitar

Ok then I guess now the question is:

Does anyone know any pre-configured Shares ISA's that I can get from a bank that is any good?

RayWolfe

You can invest in a predetermined share fund. These invest in a range of companies that the fund manager thinks will do well. But you NEED to research. Google funds and when you have a little knowledge come back here and ask away.

Rich1976

You can't just invest in a fund and hope for the best. Also if you're not experienced at investing would a high risk portfolio be suitable for you?

You need to decide what level of risk you are prepared to take eg if the fund went down 40 percent etc how would you feel?

Stay away from bank investment products as they are all rubbish.

If you don't want to spend the time choosing the right fund or if you don't want to go to an IFA, you may be best with a UK tracker fund which just follows the stokmarket up and down. But remember this sort of fund isn't without risk either as anyone who has invested in one of these prior to the crash will tell you - although they woild have done well over the last few months.

There are plenty of websites which tell you all about investing. As regards to the contributions most firms want you to pay £50+ a month. You're best going to a fund supermarket such as h-l.co.uk or fidelity.co.uk as these will have funds from a number of providers instead of limiting you to just one company's products. These will also help you choose the sort of funds which may be appropriate but you do need to take an interest yourself.

barny_100

I think this might be a case where the H&L Multi Manager funds would suit the low maintenance requirements? I don't think the OP wants to personally choose any funds. Plus with "only" £100 a month it could only go into 2 funds so would struggle to be decently diversified.

On the other hand £50 a month into both the Special Situations and Balanced Managed (Or maybe Income & Growth) multi manager funds would be a fair start to a S&S ISA in this situation IMO.

http://www.h-l.co.uk/funds/multi-manager-funds

pmorrison_2

barny_100 wrote: »

I think this might be a case where the H&L Multi Manager funds would suit the low maintenance requirements? I don't think the OP wants to personally choose any funds. Plus with "only" £100 a month it could only go into 2 funds so would struggle to be decently diversified.

On the other hand £50 a month into both the Special Situations and Balanced Managed (Or maybe Income & Growth) multi manager funds would be a fair start to a S&S ISA in this situation IMO.

http://www.h-l.co.uk/funds/multi-manager-funds

Hi, Ive been looking to invest a similar amount as the OP in a S&S ISA and was also looking for something not too complicated. Ive had a look at the above link and looked at the links. What kind of return do these products offer? Is there a good place for me to start in order to understand the market a bit better?