Charles Stanley Direct ISA

Turtle

Hi

I've just opened a Charles Stanley Direct ISA for my husband (I've already got an S&S ISA elsewhere that I pay into monthly) and I thought I could choose which fund I want the monthly payments to go into, however the account is open and it hasn't asked me this.

Have I misunderstood how it works? I wanted to invest in the Vanguard Lifestrategy 80 through this ISA, £500 a month.

Can anyone advise?

vickssinex

The Monthly Investing option is in the My Dashboard, then My Direct Accounts, menu once you've logged in.

Turtle

Thanks very much vickssinex, found it now. One thing I'm not sure of though, reading the KFD it says 'shares in the fund were first issued in 2011. This share class was launched in 2014'. Basically there's no past performance information.

I've looked at past performance of the fund (which I completely appreciate isn't related to future performance), but not sure what it means about launching the new class. Anything I need to be concerned about?

Lokolo

No nothing to be worried about. Funds have different classes with different charging structures. The fund class you can invest in hasn't been going that long so has no past performance to go by.

Turtle

Thanks Lokolo. I'm feeling a bit nervous about doing this, it seems like a lot of money - I'm thinking of £500 a month over probably 15 years - though the rational part of me knows if we do this the chances are we'll be better off than if we just kept the money in cash.

Do I just need to bite the bullet?!

vickssinex

You can find past performance information on a site like FE Trustnet here.

I'm not sure what they mean about the share class so perhaps someone else will be able to help.

Turtle

Thanks again, think I'm going to just bite the bullet!

vickssinex

Turtle wrote: »

Thanks Lokolo. I'm feeling a bit nervous about doing this, it seems like a lot of money - I'm thinking of £500 a month over probably 15 years - though the rational part of me knows if we do this the chances are we'll be better off than if we just kept the money in cash.

Do I just need to bite the bullet?!

Only you can answer that one. If you're nervous then monthly drip feeding is the way to go. It's straight forward to cancel the direct debit if you want to.

Turtle

vickssinex wrote: »

Only you can answer that one. If you're nervous then monthly drip feeding is the way to go. It's straight forward to cancel the direct debit if you want to.

Right enough, and it would be a drip feed. I've posted a new thread about the particular fund and the level of involvement I want to have, to garner a few opinions of experienced people so we'll see what that yields.

vickssinex

I wish you well.

Turtle

vickssinex wrote: »

I wish you well.

Thanks and thanks for your help. Wheels are in motion now, I just need to post back the dd mandate.