Losing money on my ISA - need to switch

funkey_monkey

Hi, In 2001 just after starting work, I opened a Maxi Stocks and Shares ISA with ABN Amro. For this I paid in £3500.

Fast forward to today and the fund is now managed by Artemis. My initial investment of £3500 in 2001 is now worth £3400. A LOSS OF £100 - NOT INCLUDING INFLATION :mad:

I was told to keep it in and it will come good, but I've lost patience and need to move it.

How do I go about moving my Stocks and Shares ISA and to whom? The focus is all on cash ISA's but I'm not finding much about these.

Thanks in advance.

funkey_monkey

Anyone on here using a S&S ISA?

greenface

thats a disgusting figure for a decade of S&S ISA and disgusting advice. Who is the advice to leave it in from Has the amount been left untouched for a decade

dunstonh

My initial investment of £3500 in 2001 is now worth £3400. A LOSS OF £100 - NOT INCLUDING INFLATION :mad:

You have told us about the timescale and the provider but nothing about the investments.

thats a disgusting figure for a decade of S&S ISA and disgusting advice.

Until we know what its invested in we cant say. It was invested just prior to the dot.com bubble (and other events) burst and obviously we have just had the credit crunch and global recession. So, it would not be unexpected to have seen a loss last year. You would expect it to be back in profit now unless its in an area that has not recovered (ie. techs)

Deru

funkey_monkey wrote: »

Anyone on here using a S&S ISA?

I have a Stocks and Shares ISA. According to my IFA, I'm £400 up. Last year was a £50 loss.

Mine's with Selestia or something. They invest in loads of markets at a time to reduce risk of loss.

Only had it for a year and a half or so.

jamesd

funkey_monkey, which Artemis fund or funds did you use? Deru, same question, which fund or funds are you using?

Batchy

I have had a S&S isa for a about 2 ish years... so far .. 30% down... my fault. Got in at the wrong time. I tried to call the bottom, and got it wrong, on a plus side. Shares have risen 25% in the last 3 months.

Im thinking of selling up and calling it a day now, so I can draw a line under the loss's, I fundamentally got it wrong. No one to blame but myself.

If I could have wound back the clock, im a lot wiser, and would have invested very differently. But everyone can do well... In hindsight...

jamesd

Batchy, so long as you've learned from it that's progress.

greenface

Its made a serious loss in ten years when you include inflaton regardless what its invested in and hes been advised to keep it in and it will come good.We know about gains and losses but the advisor seems happy to roll with it I would take the money out buy a pair of trainers and a baseball bat and chase the advisor around the streets (just my opinion)

jamesd

I doubt that any investment advisor was involved. More likely a bank salesperson. The pretty basic advice to use a range of funds and rebalance once a year to the target percentages would probably have produced a profit at this point.

funkey_monkey

jamesd wrote: »

funkey_monkey, which Artemis fund or funds did you use? Deru, same question, which fund or funds are you using?

The fund name is: Artemis Capital Fund Class 'R' Accumulation Units

I really do not know anything about this type of ISA. I was recommended it by a bank advisor.

I'd appreciate some advice on what to do with this money.