H L problem

ramborai1987

i am trying to invest another fund in my isa but an error message is saying minimum invest is 1k. i only have 600 allowance left and wanted to fill this up. When reading the key features of the fund it actually says minimum investment is 0.

is there any way to getround this, thanks.

Aegis

Call them up. Often you can get into funds for less than 1000 at a time by speaking to one of their staff directly.

ramborai1987

thank you aegis. i'll try that hopefully it should work

purch

Yes, whilst their dealing platform is pretty good it's not perfect, there are also a number of Funds that can't be bought or sold online.

ramborai1987

hmm h-l told me it was a mistake on their website and the actual minimum fund investment is 1000. im not sure if its possible but can i still invest in the fund with 1000 but have the investment split between my isa and fund account.

for example 600 to fill my isa and the 400 to go into the fund account. i have emailed their cs with the question but they seem a bit slow so if anyone else knows it'll be much appreciated.

masonic

ramborai1987 wrote: »

hmm h-l told me it was a mistake on their website and the actual minimum fund investment is 1000.

One way you could do it is to make a monthly contribution of £100. If you set this up to start next month, it would work out as exactly £600 invested by the end of the tax year. Alternatively, you could transfer £600 into the ISA towards the end of the tax year and hold it as cash to combine with next years allowance.

munk

jamesd posted one solution to this problem over in another thread just yesterday. Might not be best for you though - he suggested invest £1000, then afterwards split that as many ways as you need into alternative funds. No good for you I guess if you only have a spare £600 slot.

Probably the best solution for you is above in that thread - like someone else mentioned here, give hl a call and ask them if you can drop the £600 instead of the full £1000.

I'd be interested to hear what they say - I'm about to do similar in the next week or two when funds/money becomes available for investment, was going to call them and explain I have a lump sum of £4000 I want to split 10 ways, £400 per fund. Hopefully they'll be okay with it - I intend to top each of those up to £1000 per fund over 6months or so, so it's in their best interests to accommodate I hope (though maybe it's not up to them if the investment providers doing the funds require a minimum £1000 invest).

Let us know what they say if you do speak to them

Cheers.

ramborai1987

i rang up and they told me that you have to invest atleast the minimum in a holding in order to invest. They also said they cannot allow me to split between funds e.g 600 isa 400 fund a/c because the minimum investment is 1000 per "account".

they seemed quite tight on their terms with me but they probably could be less tight on people who are investing more.

anyway it should be ok i can still invest in a fund with a minimum investment of 500.

munk

Mmm that's not great news then. I almost got to ringing them this afternoon but other things came up unfortunately, will do so on Monday now. Cheers for the info.