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

ratechaser

Dandytf said:

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

I think 'ouch' is the word... 

Alexland

ratechaser said:

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

I think 'ouch' is the word... 

They probably waive the initial charge but I wouldn't want to be paying around 2% pa in fees for the HL brains who considered it right to stick with Woodford when he was so clearly failing beyond repair. If HL sent their staff to Vanguard to get retrained then at least it would be a good but expensive fund

Dandytf

Thanks mser's agree it looks as though Initial 3% is 'saved'
I did notice for this type of fund charges are kind of double my 1st chosen fund.
Have a few weeks yet, though seems a decent choice of company's and fits my recently found diversifying 'need'

Ceme3000

It's your money, but I sure as heck wouldn't give 2% of my returns to HL when there are loads of other funds to choose from.

Funds that would give you diversification and only be about half that in fees.

Dandytf

Thanks @Ceme3000

Yes funds such as my recent workplace pension being changed to ILife where they had mentioned they would adhere to my own chosen funds as close as much as possible, whereas I have since found that they had added one or two unrecognisable to myself, two Global Equity type funds.
Care to suggest Global Diversification Funds with lower fees from 25 pounds per month -maybe small one hundred pounds deposit.
Thanks mse'rs as I stated won't be opening new fund until a few weeks yet so open to suggestions.
Thanks all recent mser's advice, appreciated.
p.s. Edited as switching from iPad to iphone.

Ceme3000

Well have a look at post 3 by Masonic, and my opinion at about post 14.
An experienced investor might construct a portfolio with a handful of funds diversified by geography and sector, they might also mix OEIC's, ETF's and IT's but as a beginner with a small regular investment and not a lot of knowledge, I wouldn't do that, I would keep it simple.  
Just take an off the shelf globally diversified fund with reasonable fees where all the hard work has been done for you.  All you have to decide is the amount of risk / volatility you can stomach with the markets ups and downs.  Start with a one fund solution and then you can take your time and learn more about creating a portfolio of multiple funds later,  there's no rush.
If you read the posts here you will see that the ones frequently mentioned are Vanguard Lifestrategy, HSBC Global Strategy etc amongst others. 

Dandytf

Thanks @Ceme3000
with respect I have chosen equivalent off the shelf Managed fund which does include OEIC's.
I'll review @masonic suggestions tomorrow.

masonic

I'm afraid I stand by the previous comments I have made. If you feel you want active management, despite there being a large body of evidence suggesting the vast majority of these funds underperform passive and the less knowledge you have the greater the case for investing passively, then at least the HL Select series is relatively cheap passive. But you've now mixed your relatively cheap UK fund with one of the most expensive options out there, namely a HL Multi-Manager fund. Within the HL Select series there is already a global fund, which includes the UK and could have been a single fund solution for you.

Dandytf

masonic said:

I'm afraid I stand by the previous comments I have made. If you feel you want active management, despite there being a large body of evidence suggesting the vast majority of these funds underperform passive and the less knowledge you have the greater the case for investing passively, then at least the HL Select series is relatively cheap passive. But you've now mixed your relatively cheap UK fund with one of the most expensive options out there, namely a HL Multi-Manager fund. Within the HL Select series there is already a global fund, which includes the UK and could have been a single fund solution for you.

Thanks, I'll review and let's you know once I've decided.

Dandytf

@masonic
That Select Global fund is very tempting, enjoying recent Chinese Internet platform-Value for Users, Tech for Good.
haven't mentioned their name😉
The zero initial charge and .6 ongoing charges bring this fund in line with my Initial u.k. fund.
My choice is made then, I'll add this in a few weeks.
thanks