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Found a brilliant return on an ISA... but why wasn't it on MSE?
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At which point you transfer out. Or open another account and transfer forward and get another year of 5.5%?After 12 months, it actually becomes "Flexible ISA excluding the minimum rate guarantee and base rate tracker", so will pay nothing like the current rate but just 0.5% AER, as per the interest rate table HERE.
Perhaps it's lucky there isn't more info about the funds online. I might be tempted."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
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discopatrick wrote: »FYI, I haven't bought anything yet.
Thats a good sign. Hopefully at least some of the questions and comments here will generate some additional questions to be able to determine if it really is a good deal or if it needs some of this applied
http://www.guffsturdpolish.com/default.phpRemember the saying: if it looks too good to be true it almost certainly is.0 -
I was thinking you'd still match the money with the same investment.Only by putting another equal amount into another of Santander's wonderfully performing funds.
This might involve cashing it and reinvesting it.
But since they say the funds don't have initial charges, I'm suspecting they may have withdrawal charges instead.
Whose funds do Santander sell?
Does anybody have a league table showing which funds will do better than which other funds over the next 12 months or so?
I'm open to naked bribery if it pays enough.Try to keep up people, this is a good rate to con you into doing something you were not looking to do.
5.5%. Ker-ching."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Whose funds do Santander sell?
Their own.Does anybody have a league table showing which funds will do better than which other funds over the next 12 months or so?
I know you are saying that in jest but bank funds have such a poor reputation and history that its generally taken for granted that their performance is likely to be average at best. Many bank funds are passive trackers and run by computer but charged as if actively managed.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Does anybody have a league table showing which funds will do better than which other funds over the next 12 months or so?
I'm sure there are a lot of people willing to pay LOTS of money for that table especially the managers on it! Much the same as the table that will tell me the lottery numbers over the next year...
If you want to see with hindsight how well or otherwise Santander funds did then trustnet is a good place to start.
As one example (the first I picked so not based on any criteria)
http://www.trustnet.com/Factsheets/Factsheet.aspx?fundCode=KYF15&univ=U
over 3 years, global growth sector -1.6%, FTSE all share -4.4%, Santander -8.4%
So this fund has performed worse than both the sector and the index.
Over 5 years a FTSE tracker would have beaten it again as did the sector average.Remember the saying: if it looks too good to be true it almost certainly is.0 -
This kind of calculation can be over-precise, given that the index can be 2-3% higher or lower if you sell a couple of weeks earlier or later.over 3 years, global growth sector -1.6%, FTSE all share -4.4%, Santander -8.4%
So this fund has performed worse than both the sector and the index.
Digging a bit more, most of the funds offered are funds of funds, so they track their sectors fairly accurately, though they fall behind slowly and predictably as a result of the higher charges. Not necessarily a deal-breaker, set against the 5.5%.
Now if they had a cash fund, or if I was feeling more bullish..."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
I'm not sure I understand this, surely the dates quoted are like for like? -8.4% compared to -1.6% for peer group sounds like a significant underperformance to me?This kind of calculation can be over-precise, given that the index can be 2-3% higher or lower if you sell a couple of weeks earlier or later.
..Remember the saying: if it looks too good to be true it almost certainly is.0 -
I think it's a case of taking a snapshot in time can be misleading.I'm not sure I understand this, surely the dates quoted are like for like? -8.4% compared to -1.6% for peer group sounds like a significant underperformance to me?
While I haven't done so, I would suggest that trending the performance differentials over a period of time would show that on this occasion the snapshot is a fair reflection - Santander are medicore.
As for the product itself? The 3% interest uplift for a year will be more than eroded by the investment charges and performance in the other part of the hybrid.
It's not worth it.0 -
I really don't think he's (pqrded) listening!opinions4u wrote: »It's not worth it.0
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