Adding £2880 to SIPP after April 5th

littlebw

Gonna add £2880 to mine and wifes SIPP after April 5th

I know nothing about these but we had 3 / 4 small pensions that we put together in a SIPP. The value in each is roughly 20k and I will be leaving the SIPPs alone for 10 years whilst topping up every year with £2880
I just need to know am i doing the correct thing in putting it in these funds? Or anybody recommend any other HL funds?


HL Multi-Manager Strategic Bond Trust
Currently plus .05%

HL Multi-Manager Equity & Bond Trust
Currently minus 1.46%

HL Multi-Manager Balanced Managed Trust
Currently minus .86%


Sirius Minerals Shares
Currently plus 12% ( £1000 in these as it was a punt mentioned by a mate, the only time i have ever bought shares )

Dox

Depends what you are trying to achieve and your attitude to risk. Without knowing those crucial facts, there is no way to assess the suitability of what you're doing.

dunstonh

I just need to know am i doing the correct thing in putting it in these funds? Or anybody recommend any other HL funds?

Any reason you are picking options that are so expensive? You are paying around 3-4 times more than what can get via an IFA or decent DIY options. Surely the point of going DIY is to save money. Not to pay more.

littlebw

I just picked HL to transfer all our small pensions in, somebody recommended HL and i picked low risk. I havent a clue about fees etc

zagfles

littlebw wrote: »

I just picked HL to transfer all our small pensions in, somebody recommended HL and i picked low risk. I havent a clue about fees etc

The HL multi manager funds are relatively expensive as there's an extra layer of charges, but they're not massively expensive. Certainly cheaper than using an IFA and ending up with a multi-asset fund.

You could look at their "Master Portfolios" http://www.hl.co.uk/funds/help-choosing-funds/master-portfolios

They tend to include a MM fund (typical charge 1.3% or so) but mostly actively managed funds (charges generally 0.5-0.8%).

Or if you're happy with trackers and want low charges see the tracker portfolios, typical 0.1% charge http://www.hl.co.uk/funds/index-tracker-funds/tracker-portfolios

Platform fee on top at 0.45%, which is a higher % than most other platforms (typical 0.25-0.35%), but for small investments it's usually cheaper than using a provider with fixed annual charges.

dunstonh

Certainly cheaper than using an IFA and ending up with a multi-asset fund.

An example on small value with an IFA is 0.34% plus advice charge. How much are these cheaper HL funds?

zagfles

dunstonh wrote: »

An example on small value with an IFA is 0.34% plus advice charge. How much are these cheaper HL funds?

Err.. try reading my PP.

A lot cheaper than almost 2% for multi-asset via an IFA, which you thought was "not that expensive" in this thread: https://forums.moneysavingexpert.com/discussion/5553079

dunstonh

zagfles wrote: »

Err.. try reading my PP.

A lot cheaper than almost 2% for multi-asset via an IFA, which you thought was "not that expensive" in this thread: https://forums.moneysavingexpert.com/discussion/5553079

So, you picked the most expensive options that can be bought via an IFA and compared them. How very selective of you. Maybe giving a range would be a more balanced response. Just as you did on the DIY option.

zagfles

dunstonh wrote: »

So, you picked the most expensive options that can be bought via an IFA and compared them. How very selective of you.

I picked an option you said "wasn't that expensive".

Maybe giving a range would be a more balanced response. Just as you did on the DIY option.

Err...why don't you, eh? No, you just give one example. You should know more about the range of IFA charges than me, you give a range if you want. Instead of one cherry picked example which is next to useless as you just say "plus advice charge". It's the total charge people are interested in.

dunstonh

Err...why don't you, eh? No, you just give one example. You should know more about the range of IFA charges than me, you give a range if you want. Instead of one cherry picked example which is next to useless as you just say "plus advice charge". It's the total charge people are interested in.

I gave a like for like as I said it was 3 to 4 times what you can get via a DIY or IFA. So, I considered both channels.

You on the other hand gave an example of cheap DIY vs more expensive IFA. I was just balancing out.

I picked an option you said "wasn't that expensive".

It wasnt expensive for what it was.

littlebw

im still no clearer lol