Stocks & Shares ISA

Phil27356

Hi,
Perhaps others may be in a similar position:

I have a Stocks and Shares ISA that has gone from £7000 to £4600 over the last 20 years or so. It currently attracts a 1.6% management charge. I was thinking about either moving it to a different provider and hoping for better returns or taking the hit on the tax efficiency and just moving it to an Easy Access attracting 1.5%. I can't move it to a Cash ISA as I am fully paid up.
Any suggestions ?

Many Thanks.

Phil

MallyGirl

Phil27356 wrote: »

Hi,
Perhaps others may be in a similar position:

I have a Stocks and Shares ISA that has gone from £7000 to £4600 over the last 20 years or so. It currently attracts a 1.6% management charge. I was thinking about either moving it to a different provider and hoping for better returns or taking the hit on the tax efficiency and just moving it to an Easy Access attracting 1.5%. I can't move it to a Cash ISA as I am fully paid up.
Any suggestions ?

Many Thanks.

Phil

What do you mean by 'fully paid up'? You should be able to transfer it to another ISA provider that accepts transfers in. That is not the same as withdrawing and paying in again which would affect this year's £20k allowance.

dunstonh

I have a Stocks and Shares ISA that has gone from £7000 to £4600 over the last 20 years or so.

Are you receiving withdrawals?

I can't immediately think of any mainstream fund that has done that in that period. Possible that a couple of extremely high risk ones in niche/specialist sectors have but they are not mainstream and not meant to be held in isolation.

What investment fund(s) do you have?

Phil27356

Thank you for the responses; I hope this is going to the correct thread:

By fully paid up I was meaning that I have invested the full amount for this financial year in my Cash ISA. Transfer options would have to be to another Stocks & Shares ISA.
I have not been receiving any withdrawals; It is something that I invested in following my Bank's advice many years ago (just before the tech crash I believe).
The investment is called a 'Global Bond Accumulation' and is with Invesco Perpetual so not a niche.

dunstonh

The investment is called a 'Global Bond Accumulation' and is with Invesco Perpetual so not a niche.

It is a single sector fund. Not multi-asset. So, it is aimed at people who build a portfolio of multiple funds covering each of the investment areas. If held in isolation with no other investment funds, then it is poor quality investing. You are putting your eggs in one basket.

I have looked at the performance for the last 20 years and you would be up 175.71%. On £7000, that would now be £19,299. So, your figures do match the returns on that fund.

It is something that I invested in following my Bank's advice many years ago (just before the tech crash I believe).

Are you sure? The investment period pre-dates platforms. So, that would make it a direct investment with invesco perpetual. Banks typically only sold their own-brand products or had a tie in with a particular insurer. Not individual fund houses. Which bank did you use?

Are you perhaps getting this investment mixed up with another one?

le_loup

Phil27356 wrote: »

By fully paid up I was meaning that I have invested the full amount for this financial year in my Cash ISA. Transfer options would have to be to another Stocks & Shares ISA.

No it wouldn't. You can transfer an existing S&S ISA to a Cash ISA provided that the Cash ISA accepts transfers - many do. The fact that you have fully subscribed this year is irrelevant.

Phil27356

Apologies for late response: dunstonh, I used the Financial Advisor from my local National Westminster Bank and I think perhaps it may have been moved once before due to poor performance. I think I may just move it to a Cash ISA now (thank you le loup) and at least I know that it will definitely grow (albeit) slowly this year and any meagre profit won't get eaten up by 1.6% management fees. Thank you all for the replies.

Phil27356

Only figures I've got are:

Invesco Perpetual Global Bond Fund (Acc)/£4,588.95 29/11/2017 3,345.20 137.18
(Product Value Date Shares Price)

Product XD Date Pay Date Rate(GBp)
Invesco Perpetual Global Bond Fund (Acc) 01/05/2017 30/06/2017 0.7602
Invesco Perpetual Global Bond Fund (Acc) 01/11/2016 31/12/2016 0.8197
Invesco Perpetual European Equity Fund (Acc) 01/11/2016 31/12/2016 16.4060
Invesco Perpetual Global Bond Fund (Acc) 01/05/2016 30/06/2016 0.7383
Invesco Perpetual Global Bond Fund (Acc) 01/11/2015 31/12/2015 0.7253
Invesco Perpetual European Equity Fund (Acc) 01/11/2015 31/12/2015 11.5777
Invesco Perpetual Global Bond Fund (Acc) 01/05/2015 30/06/2015 0.7234
Invesco Perpetual Global Bond Fund (Acc) 01/11/2014 31/12/2014 0.7015
Invesco Perpetual European Equity Fund (Acc) 01/11/2014 31/12/2014 17.0798
Invesco Perpetual Global Bond Fund (Acc) 01/05/2014 30/06/2014 0.6077
Invesco Perpetual Global Bond Fund (Acc) 01/11/2013 31/12/2013 0.6776
Invesco Perpetual European Equity Fund (Acc) 01/11/2013 31/12/2013 8.9810
Invesco Perpetual Global Bond Fund (Acc) 01/05/2013 30/06/2013 0.8912
Invesco Perpetual Global Bond Fund (Acc) 01/11/2012 31/12/2012 0.9921
Invesco Perpetual European Equity Fund (Acc) 01/11/2012 31/12/2012 11.1111
Invesco Perpetual Global Bond Fund (Acc) 01/05/2012 30/06/2012 1.2086
Invesco Perpetual European Equity Fund (Acc) 01/11/2011 31/12/2011 10.8481
Invesco Perpetual Global Bond Fund (Acc) 01/11/2011 31/12/2011 1.3545
Invesco Perpetual Global Bond Fund (Acc) 01/05/2011 30/06/2011 1.3581

jimjames

Those numbers appear to show income being paid out? They don't seem to show the value of the fund over time