Fidelity Moneybuilder ISA to Cash?

Toki

I currently have 3 years of S&S ISA investments in the Fidelity Moneybuilder UK Index fund.

It is my belief that the markets will go down over the next 6 months so I want to move the money into a safer environment, within Fidelity for easy transfer.

Am I right in thinking you can't move money into a cash ISA, then move back at a later date to a S&S ISA? I want to be able to move it out of shares, then move back in when there is a more favourable time in the future. Can someone advise where best to put it if I can't move to a cash ISA please?

Leaving aside the arguments for and against the market going up or down please.

dunstonh

Am I right in thinking you can't move money into a cash ISA, then move back at a later date to a S&S ISA?

yes

I want to be able to move it out of shares, then move back in when there is a more favourable time in the future. Can someone advise where best to put it if I can't move to a cash ISA please?

Into a cash account within the platform (Fidelity) or into a money market fund.

Toki

dunstonh wrote: »

yes


Into a cash account within the platform (Fidelity) or into a money market fund.

Thanks, take it the fund below would be suitable?

Fidelity Cash Fund Acc Fund

How about this one?

Fidelity Moneybuilder Cash ISA

Linton

The two fidelity options you list are different.

The Cash Isa is (oddly enough) a cash ISA and so you cannot transfer S&S ISA money into it whilst keeping its ISA status.

The Cash Fund cannot be used in an ISA.

To temporarily hold cash in a Fidelity S&S ISA you need to use their "Cash Park" which effectively gives you a zero return at the moment.

For more info see:https://www.fidelity.co.uk/investor/research-funds/fidelity-funds/cash-options/default.page

The reason for all this hassle is that HMRC prevent you getting the benefits of a Cash ISA for money in excess of the max cash ISA investment limit.

Toki

Linton wrote: »

The two fidelity options you list are different.

The Cash Isa is (oddly enough) a cash ISA and so you cannot transfer S&S ISA money into it whilst keeping its ISA status.

The Cash Fund cannot be used in an ISA.

To temporarily hold cash in a Fidelity S&S ISA you need to use their "Cash Park" which effectively gives you a zero return at the moment.

For more info see:https://www.fidelity.co.uk/investor/research-funds/fidelity-funds/cash-options/default.page

The reason for all this hassle is that HMRC prevent you getting the benefits of a Cash ISA for money in excess of the max cash ISA investment limit.

Great thanks, that's exactly what I was looking for. Just have to hope shares go down now! Reckon the FTSE 100 has peaked around the 6,000 mark.