Orbis £100 match offer - Now Ended

Underfunded-overworked

already got stocks and shares isa for this year so just opened the general account to get the match , bit of fun to see how it does for the year

Zanderman

baibelle wrote: »

Hi all, I'm wondering if people are opening the stock and shares ISA or the investment account in order to take advantage of this deal?

That would depend on your circumstances. If you just want to invest £100 or a little more, for the bonus alone, the ISA wouldn't make sense as it would lock you to that ISA this financial year. But if you haven't got an S&S ISA yet this year and want to use this as your ISA then go for it. But the ordinary account has the advantage of no tie-in, ISA-wise.

JohnRo

baibelle wrote: »

Hi all, I'm wondering if people are opening the stock and shares ISA or the investment account in order to take advantage of this deal?

I have other plans for my ISA investments, I personally wouldn't use my annual ISA on this anyway.

For me this is simply a £100 + £100 matched bonus GIA punt, let's see what happens, sort of thing.

I chose the global equity fund and will be expecting the £100 bonus to be credited on or very soon after the closing date, 22nd Jan.

Worst case I lose a bit of cash, best case it eventually grows into tidy little sum.

Underfunded-overworked

just out of interest , if I opened an account for my wife (with her permission of course) would I be able to use my bank details or would this get bounced , she refuses to put her account details on line

Rheumatoid

PIA ID confirmation. both mine and wife's needed statement upload and up to 3 day wait. Never had this with any of the many accounts I have opened previously.

MallyGirl

I had the same but they turned it round in about an hour

Alexland

Yeah I have had the ID checks before with Moneyfarm (£200 TopCashBack on a GIA but we had to each invest £900 per month for 3 months - offer still available) if they have problems checking your identity. Orbis probably say 3 days to cover weekends etc. We closed the uninspiring Moneyfarm accounts but will keep the Orbis Junior ISA and maybe the ISA.

I believe it does require bank account details to setup as part of the identification checks but I don't remember as we created the JISA and ISA under the previous offer so have only added GIAs under this offer using existing logins.

Asghar

For those that may have invested a while ago, do you know where they take the fees from? Is it taken from the fund and reflected in the unit price already or do they sell some of your units to cover the fees?

Only asking because over the last 2 years, since 01 January 2016, the unit price has risen by 60%, which seems quite high and is more than all the other popular Global funds.

Alexland

Asghar wrote: »

For those that may have invested a while ago, do you know where they take the fees from? Is it taken from the fund and reflected in the unit price already or do they sell some of your units to cover the fees?

Only asking because over the last 2 years, since 01 January 2016, the unit price has risen by 60%, which seems quite high and is more than all the other popular Global funds.

I believe the fund fee deduction is automatic from within the fund no account cash balance required. Also no platform fee if you buy direct via Orbis Access. Last year was around 40% according to AJ Bell data but like most global funds that was boosted by exchange rates. You can buy it on at least one DIY platform if you want to hold it in a SIPP but then you have to pay platform fees. The DIY platform data is misleading as it says 0% fee as they have no ability to show performance fees. I don't see how they could get the OEIC listed on AJ Bell if they were not taking from within the fund.

It's worth noting some of the older data is simulated from before it was launched to retail investors as an OEIC fund.

I count every decimal place of fees in my mostly passive investments but for this level of growth then they deserve high fees as long as the customers are better off than anything else of similar risk we might have reasonably invested in. On these forums we often say beware anything that looks too good to be true but after 9 months I still cannot find the catch. But I remain cautious, limit my exposure and will keep looking.

gingercordial

Thanks Alexland, I have opened an S&S ISA with £100 as I'm happy to risk that. No ID cheques, just hope my debit card top-up payment reaches them within the 3 working days they advise.