Help ! Money has more than doubled !

dunstonh

The figures for that fund show that it hasnt grown by the amount by which you are saying.

According to the fund performance, if you invested £10,000 into this fund on 1st January 2004 (giving you the two and half years), that £10,000 would be worth £14,085 at the end of April 07.

http://www.morningstar.co.uk/UK/snapshot/snapshot.aspx?tab=7&Id=F0GBR04HOJ&lang=en-GB&lastPageURL=

So, the fund performance tables show different data to what you say you have. You seem to have gained £7000 more than the fund has performed. Type your start date into date range on the link above and see what figure it gives. You always expect a slight difference but not the margin you suggest.

nellykim

thankyou dunstonh for your reply.

I went to that site following your link, but I must say, I cant find where I need to put in the information, perhaps, you would like to try for me.

The date of my investment, for instance was 30/10/2004.. investment £7000

and then 30/10/2004.. investment £3000 ( Total £10,000 )

I have an Investments Summary, dated January 2007, saying Total Value of All Holdings £20,593.51

But, as I say, I phoned, this week, and its gone UP to just below £22,000

So maybe I am missing something, but I hope this is right ?

thankyou again.

cheerfulcat

nellykim, how many units did you buy, and when?

nellykim

cheerfulcat,investment details:-

The £7000 bought 6,122.998 shares in the Multi Manager Equity Accumulation ( Accumulation Shares)- The price of these shares was 109.400p each.

The £3000 bought 2624.141 shares ( in same ), price each 1094.

The date of the Investment Schedule was 8.11.2004.

cheerfulcat

At yesterday's price of 165p that makes the first lot worth £10102 and the second worth £4329. There's been a mistake somewhere, I think.

nellykim

cheeerfulcat I just phoned Abbey ( took ages waiting, automated message) and checked.

You are right about what you say. I asked them to re-check, and I had forgotten that I had put £7000 into the larger amount, early 2006 !!! How could I have done that !!

So, I stand corrected by all who had pointed out that there must be an error.
dunstonh - you said it was too good to be true, you were correct, so..

I honestly had forgotten, that I must have deposited that £7000, and only when I was trawling through by bank records online, did it come to light.

So, my valuations WERE correct, but the amount totally invested, is£17000, so its only made £5000 ? Not good enough. Will have to have a rethink ?

thanks to you all, and sorry for the genuine error.

Any more advice ?......

dunstonh

What were you saying about financial advisers?

You were right to invest but you picked a bank fund and banks are not known for their good performance. You have made money and made more than had it been in an account but you should see this as an opportunity to switch funds and build a better spread of investments which is more suitable going forward.

nellykim

dunstonh !

thanks- for your ( financial ) advice ..

Could you suggest a BETTER fund than my " doubled -amount " ( !!! ) fund ?

(I feel so silly at forgetting that £7000, what a nerd !)

But I still think that the people on this site, give good advice that makes you think.

cheerfulcat

Thanks for letting us know the outcome, nellykim. And welcome to MSE ( sorry, only just noticed the newbie-ness! ).

jem16

nellykim wrote: »

dunstonh !

thanks- for your ( financial ) advice ..

Could you suggest a BETTER fund than my " doubled -amount " ( !!! ) fund ?

You would not look to do one fund. You would want a spread of funds in different sectors to match the risk you are willing to take. If you don't know how that's where an IFA would be very helpful.

(I feel so silly at forgetting that £7000, what a nerd !)

At least you found out now and can do something about changing it.

But I still think that the people on this site, give good advice that makes you think.

Yes they do. The problem is knowing which advice is correct and which is not.