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

masonic

Dandytf said:

@masonic
thanks I didn't know off HL Asset Management.
Is there any further instruction required from myself,I don't have such knowledge to choose my own investments.

HL Asset Management run the investment platform, while HL Fund Managers operate the individual investment funds that can be bought or sold via the platform. But you have a choice of over 2,500 funds to invest in on the platform fund by many different fund houses. You just happen to have picked a fund run by another part of the HL group.

If, as you said originally, you've opened a S&S ISA and set up a regular monthly investment of £25 in your chosen fund 'HL Select UK Growth', then you have chosen your own investment and will be investing £25 per month into that chosen investment until further notice. The suitability of the investment you have chosen was discussed early in the thread and I've already commented that this fund is suitable to be held as part of a larger portfolio of investments, but in my view should not form 100% of someone's investments.

In your second post, you've quoted a bunch of text from the HL Portfolio Plus service, which is a managed service and spreads your money between a number of underlying investment funds, but is very expensive, and as mentioned above, has a £1000 minimum initial investment. This is not the service you are getting if you are investing £25 per month.

Dandytf

Thanks @masonic
When you mention I chose my own Investment, was that the Income option with level 5 risk.
This site quote means what I understood 
When you invest in a fund, you’re buying a slice of a range of different investments conveniently in one place.
Then I assumed my 25 monthly deposits are to be used as you mention from a larger portfolio of Investments.
I didn't want to diversify on sign up -though is there any serious risk in running this for 12 months before re deciding next year -.

masonic

Dandytf said:

Thanks @masonic
When you mention I chose my own Investment, was that the Income option with level 5 risk.
This site quote means what I understood 
When you invest in a fund, you’re buying a slice of a range of different investments conveniently in one place.
Then I assumed my 25 monthly deposits are to be used as you mention from a larger portfolio of Investments.
I didn't want to diversify on sign up -though is there any serious risk in running this for 12 months before re deciding next year -.

Well yes, HL understands that people can get quite bewildered by the 2,500+ funds it offers on its investment platform, so it has created a few tools and 'best buy' lists to help you narrow down your choice. In this case it has narrowed it down to one of its own funds, fancy that! But at the end of the day it is your choice and HL takes no responsibility if it turns out this fund is unsuitable for your personal circumstances and objectives.

The fund does invest in a small number of different FTSE 350 listed companies, and the fund managers will run the fund in line with its mandate, that is to invest "invest principally in a concentrated portfolio of UK equities" in an attempt "to provide long term capital growth". As mentioned, this is a concentrated fund that does not spread its money around as many companies as a typical investment fund would.

The fund is obviously high risk. At the end of the year, you might end up with the £300 you have paid in being worth anywhere from £250 to £350. If you continued for 10 years, the £3,000 you would paid, £25 per month, is very likely to be worth quite a bit more than £3,000 and very unlikely to be worth less. If you are comfortable with that then there isn't really a problem with giving it a go for a year, and switching investments, or adding another investment into the mix at that point.

Dandytf

Excellent detailed Advice from @masonic
That's useful that I don't need to manually use Invest Now option as it lists Investments that I hold no knowledge of.
It's possible that my chosen fund could be changed, though comfortable with 12 months.
Certainly Adding another Fund or Investment is next option, though taking interest in Limiting further sharesave's to enjoy HL Funds and setup long term up-to 15years or more.
Thanks mser's for their advice -I'll take my time when I choose next Investment before updating via mse.com

Dandytf

Thanks mser's tonight I can view Initial DD being auto invested in chosen HL fund.

11/03/20

£25.00

HL Select UK Growth Shares Inc (GBP)

Invest

Pending

Which gives me comfort knowing my chosen HL Managed fund is setup correctly.
Maybe I'll review additional fund options over Summer if I can commit another DD.
Seriously looking forward to Investing in other options away from Pensions+ShareSave-which cont'. 

Dandytf

evidence of HL Managed investment.

20.373

units 122.71 cost per unit.

This follows what I like in buying low cost and continue to invest over a few years.
Thanks all mser's time taken with me to get to this point.

Dandytf

Mser's
With additional 20-25 pounds to be made available, Initially 1 year very soon.
Is now the time to consider Diversifying HL Managed  UK Inc Fund.
Alternatively, is it more recommended to add to current 6%AVC's -employers pension. Which coincidently includes some obscure iLife overseas funds- not from my original choice, though they have certainly diversified Pension investments, or should I say epa t.w. Has
thanks in Advance
p.s. Had a quick scan of H.L Overseas or Global type funds yesterday evening, no idea where to begin, or if such a fund is available from 25 pounds per month.
Maybe I could double UK HL fund instead.

Dandytf

Decided to add this to Portfolio , in a few weeks as 100 pounds required.
H.L. Multi Managers European (ACC GBP).
i'll pay deposit and commit 25 pounds per month.
That's my 1st portfolio to include Uk Income type fund+Euro Accumulation type fund.

masonic

Dandytf said:

Decided to add this to Portfolio , in a few weeks as 100 pounds required.
H.L. Multi Managers European (ACC GBP).
i'll pay deposit and commit 25 pounds per month.
That's my 1st portfolio to include Uk Income type fund+Euro Accumulation type fund.

What's the annual management charge for that fund?

Dandytf

masonic said:

Dandytf said:

Decided to add this to Portfolio , in a few weeks as 100 pounds required.
H.L. Multi Managers European (ACC GBP).
i'll pay deposit and commit 25 pounds per month.
That's my 1st portfolio to include Uk Income type fund+Euro Accumulation type fund.

What's the annual management charge for that fund?

Initial charge 3%
Ongoing  OCF.TER 1.47%
Management Charge .45%
thanks