S&S Isa with Cis

jaggerc1

I have around 4k in a S&S ISA with Cis (Co Op).
I know about the 85k u can have which is safe but S&S can go up and down
Should I be moving my money because of the situation with the co op bank?

Any advice/suggestions would be most greatful

opinions4u

Assuming the money is invested in a range of other investments (such as OEIC, unit trust etc) then the Co-op's problems don't affect you.

ISA is a tax wrapper. CIS is probably the fund manager. So where is the actual money invested? Understanding that question should answer yours.

YorkshireBoy

£85K is for cash deposits though isn't it? You get an additional £50K for investments.

A quick google suggests your S&S ISA may well be with RLUM (CIS) Limited (previously CIS Unit Managers Limited), so a different company anyway.

dunstonh

I know about the 85k u can have which is safe but S&S can go up and down

That doesnt apply to S&S ISAs. Investments have their own FSCS protection. They dont use deposits protection.

Should I be moving my money because of the situation with the co op bank?

You have nothing to do with CIS bank. So, that isnt an issue. However, even if you did, the amount involved isnt an issue for you either.

jaggerc1

Thanks for all the replies.
The last update I got said they invested in a mix of places, highest they had was about 7% in an oil firm.

I just needed reassuring that CIS was separate from co op bank