Getting up and running with a FTSE All Share Index Tracker ISA.

funkyparott

Hi

Having done a little research, I would like to open an ISA for the FTSE all share index. The HSBC tracker looks good on paper with no initial charge and 0.27% TER

One problem, in order to apply for this direct you need to have an existing HSBC account (which I don't).

I will be looking to pay in £100 a month, possibly rising to £200 into this tracker.

Are there any alternative comparable trackers available with low TER and no inital charg (and no £2 a month subscriptions)?

I may well be better off applying to open an HSBC account to take up their ISA.


Cheers

Al

SnowMan

The Fidelity Moneybuilder UK index tracker also tracks the FTSE all share and has a TER in the same order (0.3%pa). Simplest way is to buy this direct via Fidelity. You can contribute monthly (minimum £50pm).

I'm not sure how you go about making regular contributions now direct to HSBC. The HSBC Global Investment Centre only allows lump sum contributions. And they seem to have removed their option to make regular contributions through the Selected Investment Funds.

You don't actually need an HSBC bank account to get access to the HSBC Global Investment Centre just certain savings accounts such as a Flexible Saver but you will need to go into a branch to open one of those. See this post for more info although as mentioned earlier the separate regular contribution access to the HSBC all share tracker seems to have gone.

You can access the HSBC all share tracker via one of the platforms see this thread although some such as Hargreaves Lansdown have a platform fee.

Because of possible future changes in platform charges resulting from the Retail Distribution Review I think it is a good idea to get trackers direct from the fund provider at the moment so the Fidelity route looks the obvious stand out one for you that I can see.

jimjames

If you go via Cavendish Online then you can setup monthly payments and there is no monthly admin fee like HL have.

http://www.cavendishonline.co.uk/investments/