Split ISA Allowance across multiple funds?

pistolpete180

Hello all. I've been looking at several funds in which to place my 2009/10 ISA Allowance and have got a shortlist of 3 or 4 (Schroder Alpha Plus, M&G Recovery, Invesco Perpetual High Income) so am just wondering whether I can split the £7200 across them all or do I have to put it in just one? (Previously these decisions were left to my financial advisor).


Thanks

P

ses6jwg

Yes you can split them if you via a fund supermarket.

Hargreaves Landsdowne and Interactive Investor are two of the more popular ones.

jamesd

Yes, it's easy. Hargreaves Lansdown will probably be cheaper than Interactive Investor for funds. There's normally a £250 minimum per fund at HL but it's easy to work around that by buying one fund then selling part of it and buying some other fund with the proceeds.

You can put the money in now even if you haven't yet decided which investments you'll want to use.

pistolpete180

Thanks. I've transferred my allowance (cash value) into TD Waterhouse so assume I can just buy across the funds. My original question was aimed at whether I was allowed to split my allowance as in the past everything was put into the same pot.

jamesd

Yes, no problem to do that. There's probably a minimum purchase size but it's unlikely to be more than say £1,000.

SuperMum2010

Definitely split across funds - dont put all eggs in one basket.

dudkate

i assume you are talking about a stocks and shares isa? sorry to sound a bit dense! i have a s & s isa that has not performed very well and want to transfer to a better one. how do you know which one is a good one to go with please? thanks

Primrose

dudkate - you don't say who your s & s ISA is with. That's one reason why I like to be with Hargreaves Lansdown (to whom you could transfer) your ISA. Every six months they send you a statement showing performance and they have a lot of information about funds and performance on their website and it's easy to transfer to other funds if you're not happy with your current holdings.

pistolpete180

dudkate wrote: »

i assume you are talking about a stocks and shares isa? sorry to sound a bit dense! i have a s & s isa that has not performed very well and want to transfer to a better one. how do you know which one is a good one to go with please? thanks

I'm buying mine via the TD Waterhouse website and you can login at anytime to see how well/badly your unit trust is performing. I have several year's ISAs with St. James' Place Partnership (NOT Recommended...) and all I get is a paper statement every 6 months telling me how the unit trusts are doing (and usually it describes just how badly they are doing...)