1st ISA attempt, what have I signed up to.

Dandytf

Mser's what have I signed upto when I was browsing what I thought are Stocks+Shares Isa.
I have chosen HL Select UK Growth Shares Fund -25 pounds per month.
Then I selected hold in Stocks+Share Isa and I think this is a 12 months DD.
Am I now at the stage where I hope that fund performs well.
If this is not ideal for Initial ISA is there any simpler ones to choose from.
P.s. Confirmation e-mail doesn't arrive until tomorrow thought I'de post via mse in case I need to cancel.
From what I've read is there No guaranteed  Return Rate such as a few Percent.
thanks

Alistair31

What you have signed up to is something you don’t understand and something that is relatively expensive. 

Dandytf

Alistair31 said:

What you have signed up to is something you don’t understand and something that is relatively expensive. 

Thanks I don't understand ISA's enough as when I had browsed and considered Isa's before tonight I'm sure there was a percent or more return.
I'm happy with choosing Hargreaves Lansdown and my chosen UK Growth fund.
Where my initial doubts come from are why is there a share purchase option which could have used some or all of my 25 pounds per month-which I since de selected.
This new isa then I continue to pay DD and hope my chosen fund performs well.

masonic

It's arguable whether this fund is expensive, or even expensive to hold factoring in the platform fee (1.05%). It is certainly not as cheap as holding Vanguard Lifestrategy on the Vanguard Investor platform.

What is more concerning is that you appear to be holding this as your only investment.

Dandytf

masonic said:

It's arguable whether this fund is expensive, or even expensive to hold factoring in the platform fee (1.05%). It is certainly not as cheap as holding Vanguard Lifestrategy on the Vanguard Investor platform.

What is more concerning is that you appear to be holding this as your only investment.

Fees I have and shall learn with future investment choices.
Please explain why holding my chosen fund as my only initial investment is concerning or should I have used 25 pounds across multiple funds or shares.
thanks 

masonic

Dandytf said:

masonic said:

It's arguable whether this fund is expensive, or even expensive to hold factoring in the platform fee (1.05%). It is certainly not as cheap as holding Vanguard Lifestrategy on the Vanguard Investor platform.

What is more concerning is that you appear to be holding this as your only investment.

Fees I have and shall learn with future investment choices.
Please explain why holding my chosen fund as my only initial investment is concerning or should I have used 25 pounds across multiple funds or shares.
thanks 

There's nothing wrong with holding just a single investment if it is a multi-asset fund, which gives you broad exposure geographically and across different asset classes. Does the fund you have selected do that? Or have I misunderstood and you intend to invest another £25 in something different once you are able to do so?

Dandytf

masonic said:

Dandytf said:

masonic said:

It's arguable whether this fund is expensive, or even expensive to hold factoring in the platform fee (1.05%). It is certainly not as cheap as holding Vanguard Lifestrategy on the Vanguard Investor platform.

What is more concerning is that you appear to be holding this as your only investment.

Fees I have and shall learn with future investment choices.
Please explain why holding my chosen fund as my only initial investment is concerning or should I have used 25 pounds across multiple funds or shares.
thanks 

There's nothing wrong with holding just a single investment if it is a multi-asset fund, which gives you broad exposure geographically and across different asset classes. Does the fund you have selected do that? Or have I misunderstood and you intend to invest another £25 in something different once you are able to do so?

Chosen fund as I understand is UK only FTSE350. HL Managed Fund.
Possibly receive more info when prospectus is sent via e-mail as I only have performance example 2016-2019.
Hopefully then I'll have details on which Companies HL Fund Managers are investing in.
I did specifically choose u.k. based fund, I could choose Global from next year or two.
No misunderstanding on your kind reply, I have signed up 25 pounds per month on mentioned fund only.
That's my initial Isa investment attempt over next 12 months.
Is it possible to increase my DD if required not sure if I'm limited to 25 per month.
Thanks hopefully more info tomorrow as I selected e-mail only to avoid written+Tel contact.

Dandytf

Made on tel call to HL this morning.
Seems I'm awaiting a Pin to be sent via post next few days.
Maybe I've missed that piece last night as the very last part I read was that an e-mail is due to be sent in one day from account opening.
Never mind, at least their advisor confirmed everything is in process of being setup.
Seen another Vanguard thread this morning are they the most recent popular choice.
thanks all for their advice-not often I'de open any transactions on a Sunday evening,

Dandytf

E.g. of my chosen fund.

• Media 18.0%
• Support Services 13.9%
• Software & Computer Services 10.4%
• Application Software 8.0%
• Managed-Funds 4.9%
• General Financial 4.6%
• Travel & Leisure 4.2%
• Nonlife Insurance 3.9%
• Beverages 3.8%
• Apparel, Accessories & Luxury Goods 3.7%
• Personal Goods 3.6%
• Oil & Gas Producers 3.5%
• Data Processing & Outsourced Services 3.2%
• Banks 2.7%
• Tobacco 2.7%
• Household Goods 2.5%
• No specific Industry 1.8%
• Industrial Engineering 1.7%
• Other 1.0%
• Cash 0.9%
• Health Care Equipment & Services

eskbanker

Unless I'm mixing you up with another poster, isn't it you that keeps posting on the credit card board about how you're desperately trying to juggle card repayments to avoid persistent debt enforcement actions?  If so, then it really doesn't make any sense to be starting investing (or even saving) while you're currently struggling to manage debts....

Dandytf

eskbanker said:

Unless I'm mixing you up with another poster, isn't it you that keeps posting on the credit card board about how you're desperately trying to juggle card repayments to avoid persistent debt enforcement actions?  If so, then it really doesn't make any sense to be starting investing (or even saving) while you're currently struggling to manage debts....

Making inroads on unsecured debts, though that as you say isn't for this board.
I'm attempting to save continuously with various types of funds including the mentioned 1st ISA attempt fund.
You are correct, maybe not the most cost effective choice, though I expect a much improved scenario over next 2-3 years.

Thanks anyway, any thoughts on my chosen ISA Fund.