Top Junior ISAs guide: discussion

Alexland

I don't understand the relevance of the house value either.

Parents open and manage JISA and on some platforms others can contribute directly.

Although the child could withdraw money in 6 years when it converts to a normal ISA they might keep it longer for house deposit etc so it might still be worth considering stocks/shares.

For the opportunity of growth I would suggest the Orbis Access Balanced Fund JISA which is fee-free for transfers and first 12 months of contributions (can cover 2 tax years) until 18 years old and has excellent history of outperforming the markets.

Alex

Workerbee999

For the opportunity of growth I would suggest the Orbis Access Balanced Fund JISA which is fee-free for transfers and first 12 months of contributions (can cover 2 tax years) until 18 years old and has excellent history of outperforming the markets.

Alex[/QUOTE]

I have just started looking at where I should transfer my son's CTF to. It is currently with MyFamily, with a value of 5k and we have been putting £20 pm in. He is currently 13 so there are 5 investment years still to go. We would like to help him get a lump sum together for uni/car, and can increase contributions to £50pm.

Charges are 1.5% but it is only a FTSE all-share tracker so this seems really expensive to me. Plus I'm not sure all UK is best for the next few years? I would like to transfer to something with lower fees and good performance. I have had a look at the Orbis Access Balance Managed Fund mentioned, and also it's Global Equity Fund, and I would be glad for any views:

1) Am I right in thinking that I wouldn't pay fees on the amount I transfer and put in during the first year for the whole period until he is 18, or just for the first year?

2) With 5 years to go, is the Global Equity Fund too risky?

3) Are both these good funds? - I didn't really understand how the charges worked based on exceeding the benchmark to be able to compare it to other funds

Any feedback would be great as I want to do something better with the Fund but don't really know where to start.

Workerbee999

Alexland wrote: »

For the opportunity of growth I would suggest the Orbis Access Balanced Fund JISA which is fee-free for transfers and first 12 months of contributions (can cover 2 tax years) until 18 years old and has excellent history of outperforming the markets.
E
Alex

I have just started looking at where I should transfer my son's CTF to. It is currently with MyFamily, with a value of 5k and we have been putting £20 pm in. He is currently 13 so there are 5 investment years still to go. We would like to help him get a lump sum together for uni/car, and can increase contributions to £50pm.

Charges are 1.5% but it is only a FTSE all-share tracker so this seems really expensive to me. Plus I'm not sure all UK is best for the next few years? I would like to transfer to something with lower fees and good performance. I have had a look at the Orbis Access Balance Managed Fund mentioned, and also it's Global Equity Fund, and I would be glad for any views:

1) Am I right in thinking that I wouldn't pay fees on the amount I transfer and put in during the first year for the whole period until he is 18, or just for the first year?

2) With 5 years to go, is the Global Equity Fund too risky? I know that's a personal choice but it's hard when it is on behalf of someone else, so any views would be good.

3) Are both these good funds? - I didn't really understand how the charges work based on exceeding the benchmark to be able to compare it to other funds

Any feedback would be great as I want to do something better with the Fund but don't really know where to start.

Keep_pedalling

Our first grandchild is due in September and plan to gift him his full JISA allowance which hopefully will grow nicely in the 18 years to maturity.

Vanguard do a JISA with a 0.15% annual charge and a this is the JISA I am currently thinking of recommending to my son, putting the lot into Vanguard LifeStrategy 100% fund which has an annual charge of 0.22%

Spartz

Good evening everyone,
I hope someone can answer this for me. My son has just turned 16. He has a Nationwide Smart Junior ISA (since Sep14). Is it possible for him to transfer some of it to a Help to Buy ISA or is transferring to another JISA with better returns than the nationwide JISA the only option available until he's 18?
I can't find any info on the WWW suggesting this can be done so I'm thinking NOT but thought I'd ask.
Thanks for any advice

Alexland

Welcome to the forums.

I don't believe you can transfer a JISA into a HTB wrapper or even if you can I couldn't find any providers that would accept the request. As such if you wanted to start a HTB ISA it would have to be with new money.

You are able to transfer your JISA to a new provider just pick from the bust buy tables and ask the new provider to initiate the transfer.

Alexland

@Workerbee999 sorry missed your earlier questions. My understanding of the Orbis terms is that any transfers or contributions made in the first year will be fee free until 18. If you are unsure you can check with them.

Orbs Global Balanced is more appropriate for 5 years to go. It is still 60% equities. They are both good funds (Morningstar 5* rated) but the Global Equities is going to be more volatile with greater risk and reward so probably not appropriate to your needs. Yes as they are the only fund manager who charges solely based on performance it is hard to compare.

Basically if Orbis do better than the benchmark (average) fund they keep 50% and if they do worse than the benchmark they refund 50% of the difference. If they do the same as the benchmark they charge nothing.

Alex

Spartz

@Alexland, thank you for your helpful response. Much appreciated!

Almufasa

Hi all - just a note that MSE says regarding the Nationwide Junior ISA that "The account can be opened and managed in a branch or online." However if you want to open by transferring from a CTF you need to send off for a pack to fill in and post back. I've done that, I hope it will be easy, let's see :rotfl:

Alexland

Yeah a bit more complicated if transfering a CTF hope the mindless admin goes well for you!