Investing Euros into Funds, based in UK

paddytt

Hello

Following a property sale, I have a large sum of Euros abroad, which I do not want to convert into GBP just yet, as I believe the Euro will strengthen in a few year time. But I would like to transfer the money to a Euro account in the UK for tax reasons, and then invest in Euro denominated funds (eg Vanguard IE based) for growth.

I know which banks have Euro accounts (Citi etc) but who will invest my Euros without exchanging them into GBP first?

thanks in advance

paddy

jimjames

Others think differently. If you're not needing the money in Euros then you're speculating on the currency markets and it may not go as you expect.

Banking giant predicts sterling set to soar against euro http://www.dailymail.co.uk/money/news/article-2843842/Banking-giant-predicts-sterling-set-soar-against-euro.html @MailOnline

paddytt

I'm prepared to take that risk. It usually pays to go against the crowd.


Back to the question - can anyone help?


thanks


paddy

ColdIron

paddytt wrote: »

It usually pays to go against the crowd.

I'm not so sure about that. Occasionally you may get lucky or maybe you may have a special reason or insight, but to routinely go against perceived wisdom will more often result in disappointment than not

paddyrg

Banking giant predicts sterling set to soar against euro http://www.dailymail.co.uk/money/new...inst-euro.html @MailOnline

---

Remember the saying: if it looks too good to be true it almost certainly is.

Brilliant juxtaposition! Frankly I take the Mail's view as just another opinion - fact is, nobody knows.

If they knew, it would be so hedged already that the casual investor wouldn't get a look-in and the movement already factored into current rates. OP has a feeling it's going one way and is prepared to take a punt on it (which is all that currency speculation is anyway)

paddytt

and a quote from that article:

"Yet there are signs the exchange rate is overvalued with the International Monetary Fund estimating the pound is 5 to 10 per cent too strong at current levels"

Somehow I tend to trust the IMF a little more than an American Financial Corporation like GS. Remember Lehmann.....!

ColdIron

paddytt and paddyrg, what are the chances eh?

paddytt

the luck of the Irish...?

xylophone

Didn't you ask this before? https://forums.moneysavingexpert.com/discussion/comment/65780519#Comment_65780519

paddytt

Yes but as I said above, I was hoping for a UK based account...


All that I have found is Seedrs but that's not in my risk pool.


regards

Voyager2002

Some points...

1. The Mail is consistently wrong whenever it reports anything that I know about, so the chances that it is right this time are vanishingly small...

2. People in the EU also invest in funds, shares and so forth. Ask a friend in the country where you had your property, or your bank there, or even that kind Mr Google, and I am sure that you will find a platform that invests deposits in Euro.

3. In any case, if you believe that you know what the Euro is going to do against the pound then the way to benefit from that knowledge is to buy (or avoid) investments whose underlying assets are priced in Euro. It makes no difference at all which currency you use to make the investment.