Euro investment account

PParka

Hi,
I am about to receive a €40,000 gift from my father who has sold a property abroad. I'll be receiving the money in Euros, but I live in the UK.


As the exchange rate is poor I don't want to convert it back into £.
Even the best Euro savings account is only paying 0.65%, so I want to invest it rather than save it.


Does anyone know which UK based investment companies will let me open an account and purchase funds in Euros???


Thanks

Plus

DeGiro will, though they do a lot of stock lending and there are questions about what would happen if they go under. Saxo Bank also will I think. Note that you can't put Euro in an ISA.

Be aware that you once you've invested, it isn't Euro any more - it's Tesco/Siemens/Microsoft/whatever shares. Apart from a small cost in terms of exchange fees in and out, buying N shares with Euro and selling in 5 years time will give you the same return as buying N shares with pounds and selling at the same time. It's only if you continue to hold cash will exchange rate swings matter. Though, of course, Microsoft could do better than Siemens as a result of economic factors like exchange rates - and if you hold Tesco instead of Siemens you won't see so many fluctuations when viewed from the standpoint of GBP..

PParka

Thanks for the info.


You've made a really good point about it no longer being in Euros once invested. I hadn't really thought of that before.


I currently don't use my ISA, so could fill that to start with if it was in GBP.