Fund supermarkets

savingpennies

My husband took out a stocks and shares ISA in 2000 (Legal and General All Share Tracker) and invested £100 a month into it until March this year. In January it was worth something over £8000, though with the recent market correction I appreciate that this may have changed.

From reading a couple of threads over the past couple of days I realise that trackers are not the best vehicle for investment particularly when it is the only stocks and shares ISA held. I know also that putting all your eggs in one basket is not a good idea either.

As a consequence I have been looking at fund supermarkets into which this ISA can be transferred and which we can then spread the £8000 and the risk over different funds. So my questions are:
a) can we transfer this ISA and then transfer into other funds?
b) Is Hargreaves Lansdown's Vantage a funds supermarket?

Money_Watch

Not sure about question 2, but certainly, you could transfer this ISA into a fund supermarket, such as Fidelity's FundsNetwork, and then invest it into other funds.

Make sure you do an ISA transfer though and don't end up using this year's ISA allowance unnecessarily.

dunstonh

a) can we transfer this ISA and then transfer into other funds?

You can either
1 - re-register the existing holding with a fund supermarket - same funds, just admin looked after by the fund supermarket. No cost or new bid/offer spread
2 - transfer the existing holding to a fund supermarket - new funds to be selected and that may incur a new bid/offer spread.

b) Is Hargreaves Lansdown's Vantage a funds supermarket?

They are in effect when providing that particular service.

PMS Target June £30 PMS Actual £13.50

How and why do you put a monetary value on PMS? Does it cost more the worse it is?

savingpennies

Thanks to both respondents. I feel we need to be investing in different funds to spread the risk and the Vantage service offered at HL is the one I have been looking at. I'll look at Fidelity's fundsupermarket as well.

PMS is one of the ways I save into my cash ISA - any money I save via money off vouchers, bogofs at the supermarket, books sold on Amazon, or any other extra money that comes my way. This is in addition to my £50 a month I secrete away via direct debit every month. My PMS saving since November comes to over £8oo. My target is to achieve the full £3000 by end of next March.