Fidelity - Can you switch funds?

dewmass

I opened a Fidelity Mini Isa in April with 5 different funds at £50 a month:
European Managed
Greater Russia Fund
UK Smaller Companies
Invesco High Income
Old Mutual Bonds

I regret the Bonds decision as I am looking at a 10 year investment and wonder whether I'm being too cautious. The question is can I change this into another fund either now or at the end of the year. Also, if I want to diversify at the start of the next tax year can I open new funds and leave these to grow whilst not putting any monthly cash in.

Cheers to you knowledgable folk on here for any advice

Money_Watch

Hi,

As far as I'm aware, you can switch the money you have already invested into whichever funds you want (maybe subject to minimum investment amounts though) - this can be done online whenever you like if you've registered for their account management, but you will be charged 0.25% of the switch amount.

However, you will have to notify Fidelity in writing in order for your monthly investment to be changed to a new fund or funds.

If you want to invest in new funds next tax year, you can do so and leave the exisiting funds to hopefully grow.

I hope that helps.

Rob.

dunstonh

However, you will have to notify Fidelity in writing in order for your monthly investment to be changed to a new fund or funds.

This can come via adviser/broker as well as yourself and it can be done by fax.

dewmass

Cheers for the help. Would you agree I am being a little too cautious with 20% in bonds?

dunstonh

Would you agree I am being a little too cautious with 20% in bonds?

20% in bonds is not cautious. 60% or more in bonds/property is cautious.

jamesd

Whether you're being too cautious depends on how cautious you want to be. How much downward movement would you accept in one year without being unable to sleep or too worried to continue?