Spare £5000

portland44

Point taken ColdIron, many thanks for your ideas.

I may top up my stocks and shares fund that I hold with Fidelity as it is returning over 8% at the moment although I know there is some risk involved. Just did not want to tie up all my savings with the same company.

jimjames

portland44 wrote: »

Point taken ColdIron, many thanks for your ideas.

I may top up my stocks and shares fund that I hold with Fidelity as it is returning over 8% at the moment although I know there is some risk involved. Just did not want to tie up all my savings with the same company.

There should be no issue at all with your funds being with the same company ie Fidelity. Money up to £50k is protected against fraud and various other events and the risk of the fund going up and down isn't affected by the company you hold it with.

But you would probably be best to not have all your money in a single fund and to have some diversification. The different posts have referred to both saving and investing so you just need to be sure that you are choosing the option that is suitable for you.

portland44

Thanks for that Jimjames.

Forgot about the 50K protected. I have 3 different funds with Fidelity. 2 ISA stocks and shares, medium to high risk and moneybuilder global fund at the lower end. The Isa's are returning 4.1 and the over 5% and the moneybuilder global is returning over 8%

Is it wise to top up the moneybuilder as this is doing the well or should I just pay into a new fund. I am sure it makes sense to top up existing funds as then you do not have to pay an initial set up free unless they are offering 0% set up fee for new customers.

Any advice welcome