Murray international in an ISA

cuthbertlilly

I’ve got a S+S ISA with Cavendish online that goes through Fiedlity.
I’m interested in putting £250-500 and possibly drip-feeding into Murray International investment trust. I see that Aberdeen investments allow £250+ lump sum investments, but is there a way of investing in MYI (and other IT’s) via my current S+S isa or do I need to invest with a different platform for TY 16/17?

talexuser

I can't find Murray International on the Fidelity supermarket list, only the Income fund. International is well down now, 5% to NAV, could be a good time to buy if you still rate the manager who has a great record apart from the last couple of years. Being bearish about QE and inflation, and Sterling's relative strength, has lost him a lot of growth recently. I'm around 12% down from peak but hanging on still for the long term, another couple of years under performance like the last few and I'll probably think again.

cuthbertlilly

so, which ISA providers offer MYI? or do i need to open it outside an isa?

greenglide

Any of the platforms that deal in shares as well as funds.

Fidelity will offer it in their share dealing section but the same ISA cannot be split between the two (unless I am horribly wrong).

Hargreaves Lansdown, Charles Stanley Direct, AJ Bell Youinvest ............. the list is endless.

bowlhead99

I think talexuser may have been confused if looking for Murray international on a "fund supermarket" list at Fidelity. It is not an open ended fund, it's an investment trust listed on the London stock exchange and is one of the big ones - it's in the FTSE 350.

It doesn't need to be bought via a "fund platform" at all - as it's simply a London listed share, any stockbroker offering a self select ISA will let you buy it. Most of the mainstream DIY fund platforms allow you to hold FTSE shares and investment trusts too, whether or not you are holding funds; they just sometimes have a different fee structure for buying and holding shares and ITs on the one hand, and funds (oeics and unit trusts) on the other.

If you fancy a change of scenery for 2016, Youinvest are competitive. They have transaction fees for both shares/ITs and funds, but only £1.50 per purchase on a monthly investment plan and their annual percentage on funds is lower than Fidelity/Cavendish.

talexuser

Fidelity list a section for ITs and EFTs in the fundsupermarket which I assumed was needed for ISAs, not sure now. If thinking of investing long term I would certainly advise inside an ISA for the tax advantages when you want to eventually get income. or sell units.

jimjames

greenglide wrote: »

Any of the platforms that deal in shares as well as funds.

Fidelity will offer it in their share dealing section but the same ISA cannot be split between the two (unless I am horribly wrong).

Hargreaves Lansdown, Charles Stanley Direct, AJ Bell Youinvest ............. the list is endless.

Fidelity are in the process of changing so investment trusts can be held in an ISA along with funds. It's only just started and looks to be charged at £3 per month total so worthwhile if your investment is quite large.

greenglide

Fidelity are in the process of changing so investment trusts can be held in an ISA along with funds. It's only just started and looks to be charged at £3 per month total so worthwhile if your investment is quite large.

Are they also improving response times on their site and making it more usable?

Just opened an account with Youinvest for my wife to get ITs inside an ISA (includes Murray International) and it is a much cleaner and usable site - not perfect but eminently usable. .

Cavendish

Hello, this is an official response from Cavendish Online.

As the original poster requested confirmation of whether they can invest in Investment Trusts via Cavendish Online, we can confirm that this is possible.

Further information regarding the choice of Investment Trusts and the charges that apply are available on our website at the following address;
http://www.cavendishonline.co.uk/investments/other-products/investment-trust-or-exchange-traded-fund/

Kind regards,

Cavendish Online.

talexuser

As I thought Murray International is not in the list, but there are better alternatives if that is the trust you want to buy.

Cavendish

Hello again from Cavendish Online.

Murray International Trust plc is available on our platform. If you download the Investment Trust (IT) pdf from the previous link you should see it towards the top of the second page.

IT's are currently not appearing on our Fund Research page, maybe this was where you couldn't see Murray International. We are working towards resolving this, however it will not prevent you from dealing in IT's on our platform.

Kind regards,

Cavendish Online