change to how I spread my isa query

ok_go

Evening all...

Hopefully someone will be able to point me in the right direction although this may be a real stupid question? I currently have a l and g tracker in an isa held with l and g. I have several years contributions and want to start using other funds still within an isa wrapper as I am now able to start using the full allowance each year.
Do I need to stop contributing to my current tracker and open a new one next financial year or is there a way I can continue to contribute to the l and g one.

Is there a single isa holding account for instance that I can use to deposit my isa allowance and drip feed into a number of funds along side my l and g?

Sorry if already asked but didn't know how to search cor this?

Cheers
Go

bigadaj

Hi there,

You can continue to pay into the same isa every year but it's probably not the best option.

Which fund are you invested in, is it the all share ftse fund tracker?

If so it's probably wise to diversify further as all your beans in the uk is relatively risky.

There are funds such as vanguard lifestrategy or black rock consensus that take your money and spread it Across different areas and also put money into bonds which reduces volatility. You simply choose the split you want and they manage it, rebalancing the fund to maintain the split you want.

Alternatively hsbc do a range of tracker funds across the world, including ftse 100, all share, 250, us, European, pacific etc which you can split your investments between. These are generally cheaper than the l and g funds.

Do some reading of the board here, there is a thread detailing discount brokers that gives some indication as to what is best and cheapest for different sums and spreads of funds, though things are still chnaging and the providers don't have to finalise their charges for another month or two.

Justin modrays candid money website is very useful, he's developed a tool on the compare fund platforms website where you can input your preferred funds and it will tell you where will be cheapest to hold, you just have to put in an assumed growth rate and holding period and whether you will trade the funds.

ok_go

Thanks for that

Nope it is the all share and I have some diversification into the us and European funds for the last two years.

Have been reading tim hales smarter investor so have heard about vanguard . Im trying to keep all of the investment in one place and was considering swapping the l and g for something a bit cheaper. Just wondrred if there was a one stop sop that would let me spread the allowance over several funds ... will definitely dig around for the post you suggested and give some more thought to vanguard
Cheers

Go

grizzly1911

There on several discount online brokers.

You could arrange to transfer your existing holdings into an ISA wrapper operated by them. You could even keep your ISA wrapped value to date and move from l&g into alternative funds.

You could select a number of funds and split your monthly contribution across them ( subject to minimums for each individual fund).