medium & high risk investment isa

cinek

after putting the decision off, I decided it's time to do something with my money. I want to invest some money in medium and high risk isa with fidelity. Can I have 2 portfolios and as long as I don't go over the £11,520 limit it doesn't matter how many portfolios I have or can I only have 1 portfolio?

dunstonh

I want to invest some money in medium and high risk isa with fidelity.

what do you mean by medium and high risk?
Why would you not balance your holdings to meet your chosen risk level?

Can I have 2 portfolios and as long as I don't go over the £11,520 limit it doesn't matter how many portfolios I have or can I only have 1 portfolio?

You can do what you like within the contribution limit.

cinek

thanks, I'll balance my holdings

p00hsticks

cinek wrote: »

after putting the decision off, I decided it's time to do something with my money. I want to invest some money in medium and high risk isa with fidelity. Can I have 2 portfolios and as long as I don't go over the £11,520 limit it doesn't matter how many portfolios I have or can I only have 1 portfolio?

You can only contribute to one S & S isa each tax year. Within that ISA wrapper you can have as many different shares, funds etc as are permitted by the particular provider.


so if you are saying that fidelity offer an ISA that allow you to hold a mixture of funds, some high and some medium risk, then that's fine. But if they are offering a medium risk ISA and a separate high risk ISA product you can only put money into one or the other, not both.

jimjames

cinek wrote: »

after putting the decision off, I decided it's time to do something with my money. I want to invest some money in medium and high risk isa with fidelity. Can I have 2 portfolios and as long as I don't go over the £11,520 limit it doesn't matter how many portfolios I have or can I only have 1 portfolio?

An ISA is only a wrapper that keeps the contents tax free. You can put whatever you want inside it whther that is low, medium, high or off the scale risk. Totally your choice. Only restriction may be that your chosen provider doesn't offer the options you want like shares, ETFs or funds but you can use different providers each tax year to deal with that.

cinek

thanks, so this basically means that I can invest in 1 ISA every year - so if I go with fidelity for now then I can open a new ISA S&S account with lets say HL for the new year (april) and as long as I only put money in the HL isa, I'm good with both accounts?

le_loup

Yep. Although generally it helps to consolidate all your holdings with one provider to allow you to switch to different funds at will.

cinek

thanks, one more thing - is it generally better to automatically reinvest any profits or get it paid into my bank account and then invest in the same/other things?

The only disadvantage (that I can think of) with getting it paid to my bank account is that it'll probably be tempting to spend it on something else rather than investing it

edit: also, if I set it to automatically reinvest any profits, does this count towards my isa allowance?

p00hsticks

cinek wrote: »

thanks, one more thing - is it generally better to automatically reinvest any profits or get it paid into my bank account and then invest in the same/other things?

The only disadvantage (that I can think of) with getting it paid to my bank account is that it'll probably be tempting to spend it on something else rather than investing it

edit: also, if I set it to automatically reinvest any profits, does this count towards my isa allowance?

You want to keep the dividends and profits within the ISA wrapper to preserve the benefits of the tax free status. The ISA allowance relates to the initial cash you put into the wrapper from outside.

Once you have put cash in you can buy / sell and get dividends within that wrapper as much as you wish without it affecting your ISA allowance or having any income tax / CTG consequences.