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Can't invest in fund I want to on III

Hi there,

I'm at an annoying stage in my ISA investment.

I've done some research and decided for 2 funds I want to invest in: DB X-TRACKERS IBOXX SOVEREIGNS EUROZONE TR INDEX ETF 1C and ISHARES EURO STOXX BANKS (DE). (The latter a bit risky, I know, but I don't need the money very soon and am happy to roll the dice.)

I found that the online broker where I can invest in this fund within an ISA is iii.co.uk. I registered and all, want to trade now, come to the decisive step and am told: "This instrument is not currently tradable within an ISA".

Do you know if this is a temporary issue and might be different in a week's time or so?

Or do you reckon I have to start my fund research all over again?

Thank you,

Leo

Comments

  • Linton
    Linton Posts: 18,349 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Hung up my suit!
    MotT wrote: »
    Hi there,

    I'm at an annoying stage in my ISA investment.

    I've done some research and decided for 2 funds I want to invest in: DB X-TRACKERS IBOXX SOVEREIGNS EUROZONE TR INDEX ETF 1C and ISHARES EURO STOXX BANKS (DE). (The latter a bit risky, I know, but I don't need the money very soon and am happy to roll the dice.)

    I found that the online broker where I can invest in this fund within an ISA is iii.co.uk. I registered and all, want to trade now, come to the decisive step and am told: "This instrument is not currently tradable within an ISA".

    Do you know if this is a temporary issue and might be different in a week's time or so?

    Or do you reckon I have to start my fund research all over again?

    Thank you,

    Leo

    Surely its not saying you cant use those investments, but rather they are not allowed within an ISA. According to the IShares website their German domiciled funds are not eligible for an ISA - see here.
  • MotT
    MotT Posts: 35 Forumite
    Thanks for your help!

    OK, I understand that. It seems an equivalent for these funds is not set up elsewhere... It's dissapointing iShares and db xtrackers do this in Germany only.
  • JamesU
    JamesU Posts: 1,060 Forumite
    Part of the Furniture Combo Breaker
    MotT wrote: »
    Thanks for your help!

    OK, I understand that. It seems an equivalent for these funds is not set up elsewhere... It's dissapointing iShares and db xtrackers do this in Germany only.

    Both etfs you want can be purchased in an ISA, XGLE for the former and XS7R for the latter. You can also short the EU banking sector with XS7S.

    However dbx etfs are swap-based so be very sure you read up and understand the risks involved first, and also check and assess weightings of the components in the index beforehand too.

    JamesU
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