halifax maxi

raymond_42

i have a maxi isa with the halifax, i was told when i invested in the isa
that it was low risk,but my investment has fallen by £600 in six weeks.
i wonder has anyone had a simlar experence. is this usual to drop £600
in such a short time, what chance of it gaining back what its lost.

ray s

dunstonh

First mistake is buying a bank product. Second mistake is sticking it all in one fund (eggs all in one basket). Can you name the fund they have stuck you in? I'm going to guess it's one of their trackers.

raymond_42

Hi maverick,
luckily these are not my only investments,
the halifax policy is called HALIFAX ISA INVESTOR.
Thanks for taking the time to reply.

dunstonh

ISA investor is the product. It isnt where the money is invested.

You should see a fund name somewhere. Something like FTSE tracker or similar.

raymond_42

I have looked on the policy, the only thing i can see is UK INVESTMENT FUNDS ICVC CORPORATE BOND FUND

dunstonh

Corp bonds are not very volatile (the ups and downs wont be significant) but it hasnt been a good year for them. So a drop in value is not unexpected. Especially those managed by a bank (banks are dire at investments usually).

Part of the drop is likely to be the initial charges and bad timing. However, over the long term you should see it zig zag into a surplus position.

That said, I wouldnt put my money where you have yours. I recommend you either research your own alternatives or get an IFA to sort it out for you. All eggs in one basket is bad investing.

raymond_42

Thanks maverick,
i appreciate your advice,you have put my mind at rest somewhat.
although that is not my only investment, i have monies in the co-op smart saver account, also monies in a bond paying 5% gross at the hanley economic
building society (local in the stoke on trent area)
once again maverick thank you for taking the time to advise me.
Ray