Hargreaves and Lansdown Stocks&Shares ISA

Andrew2010

Another issue is if having set up £50 minimum for a number of funds, if I wanted to increase and pay money in then what is the minimum? For another fund I have the minimum amount I can pay in is £250. So if I set up 5 or more £50 funds, in order to increase the amount in I might have to put in significantly more.

Lokolo

Andrew2010 wrote: »

Another issue is if having set up £50 minimum for a number of funds, if I wanted to increase and pay money in then what is the minimum? For another fund I have the minimum amount I can pay in is £250. So if I set up 5 or more £50 funds, in order to increase the amount in I might have to put in significantly more.

You can change the funds too.

Example

Month 1
Fund 1: £50
Fund 2: £100
Fund 3: £60

Month 2
Fund 1: £50
Fund 2: £50
Fund 3: £50

Month 3
Fund 2: £50
Fund 3: £50
Fund 4: £100

Lokolo

DavidHayton wrote: »

Seems like an awful lot of work keeping tabs on 20 funds with £50 invested in each one. You might find that HL aren't keen on adminstering this sort of portfolio either.

Would be much easier to stick £1000 in a passive tracker fund e.g., HSBC all-share tracker fund or an ETF. I wouldn't buy ETFs through HL though - their stockbroking fees are not the cheapest. Either way you will be averaging winners and losers but you will be paying lower fees than you would to a portfolio of actively managed funds

David

I haven't had any problems. I have 2 funds where I have put in £750 each, one fund where I have put in £50. And another where I have so far put in £200.

Andrew2010

Interesting, thanks. Do you think £50 is a bit low?

Lokolo

Andrew2010 wrote: »

Interesting, thanks. Do you think £50 is a bit low?

The above for me are totals, I put £50 a month in for each fund. It's all I can afford.

If you can afford £1k a month, then 10 funds, at £100 a month each is what I'd do (I don't advise this, just discussing )

This would also suit your ISA allowance, assumign you don't use your Cash ISA allowance.

https://www.fidelity.co.uk/investor/guidance-planning/plan-portfolio/myplan-portfolio-quickstart.page?

I also recommend that.

jimjames

Andrew2010 wrote: »

Interesting, thanks. Do you think £50 is a bit low?

I put £50 each into the funds I chose. I also top up if I have extra cash in a month. Its all managed online so I'm not sure HL really care about which funds as long as you meet their minimum criteria as the extra costs of running each account must be minimal.

Loughton_Monkey

Andrew2010 wrote: »

So £50 in around 20 funds you think would be worthwhile?

I wouldn't spread it so much.

A small thing to watch: If you decide on any "Income" funds as opposed to "Accumulation" Funds, then you can, I think, end up with a bit of cash which is too small to re-invest in the fund from which it came. Most funds, however, come in an 'income' flavour and an 'accumulation' flavour.

It's best, also, to have some sort of strategy before deciding on the number of funds. Typically, for example, you might decide to keep an underlying 25% in 'safe' corporate bonds/fixed interest, 50% in 'Global' equities, and the remaining 25% in 'exotic' or 'designer' funds. Such a strategy, for example would dictate a minimum of 3 funds, but then you may wish - again as a strategy - to hedge on 2 providers for each tranche. So 6 funds in all.

Personally, I tend to limit each fund to about £5K/£10K, but that's just a personal foible.

Andrew2010

Lokolo wrote: »

You can change the funds too.

Example

Month 1
Fund 1: £50
Fund 2: £100
Fund 3: £60

Month 2
Fund 1: £50
Fund 2: £50
Fund 3: £50

Month 3
Fund 2: £50
Fund 3: £50
Fund 4: £100

How do you do this - changing the direct debit?

Andrew2010

Loughton_Monkey wrote: »

I wouldn't spread it so much.

A small thing to watch: If you decide on any "Income" funds as opposed to "Accumulation" Funds, then you can, I think, end up with a bit of cash which is too small to re-invest in the fund from which it came. Most funds, however, come in an 'income' flavour and an 'accumulation' flavour.

I'm not sure how the funds accumulate. They increase in value but how is that re-invested? I've had dividends reinvested but that isn't enough for high growth is it?

It's best, also, to have some sort of strategy before deciding on the number of funds. Typically, for example, you might decide to keep an underlying 25% in 'safe' corporate bonds/fixed interest, 50% in 'Global' equities, and the remaining 25% in 'exotic' or 'designer' funds. Such a strategy, for example would dictate a minimum of 3 funds, but then you may wish - again as a strategy - to hedge on 2 providers for each tranche. So 6 funds in all.

Personally, I tend to limit each fund to about £5K/£10K, but that's just a personal foible.

Thanks, I was thinking different territories and an FTSE tracker.

somethingcorporate

Andrew2010 wrote: »

How do you do this - changing the direct debit?

You do it in the monthly investment tab on the HL website, it's dead easy!