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

droopsnoot

Dandytf said:

It seems you're comfortable in investing Long term whereas I've only committed to Initial 12 months. 

As others have said, you really can't look at investing for anything less than a five-year period, at an absolute minimum.

I was quite comfortable with sticking the money in and leaving it, and that's what I've done - after all, I'd stuck it in a savings account and left it prior to investing. When my statement turned up showing a massive loss, I could either have taken the money out again and retreated to the safer cash savings accounts that it had come from, or left it in place to try to recover the loss. I chose the latter path - remember that whatever your valuation statement says on a particular day, if it looks like you've made a loss, you haven't actually made that loss until you sell out of the fund - I think the term is to "crystallise the loss". Same applies to profit.

I don't recall whether Nationwide provided any projections for future growth, I don't imagine they would have done, and how would you believe anyone that did? I recall them illustrating how much better my money would have done if I'd invested six years prior to when I did, compared to how it had done in their savings account. And I also remember distinctly them telling me that their pretty graph shouldn't be taken as a guide to how the investment might perform in the future, as I came to reflect on that when it plummeted in value.

Dandytf

Thanks Droopshot
Some excellent points taken, I'll change my Hold option to Re -Invest which means Until I advise otherwise.
Whist I don't yet have up front sizeable payments, I have today noticed the option of Top Ups by Debit Card which could become useful and maybe a great opportunity to grow Fund Balance.
If my fund falls short after 12months that means I could get less unlike sharesave which I can re claim deposits without incurring any loses.
I don't intend in making withdrawals from either type of 'Fund'
'Crystalise' is interesting -again similar to Sharesave in that I have 3/5 year options to Purchase Shares though could Crystalise deposits if my agreed purchase price is Higher than current market value.

Dandytf

Income -is this my 25 pounds per month once my HL Isa is Active.
Initial decision when I applied online was to Hold Income in Account.
Though the alternative re investment option confuses me unless it's referring to any Additional income I deposit.

Income instructions

Within the first ten working days of each month we shall treat any income received from your investments in line with the option you select. There are three income options:

Held on account: we shall transfer your income to your capital account where it will be available to invest when you choose.- My Initial Selection.

Automatically re-invested: we will reinvest any income automatically for you when it reaches £10 (or your chosen minimum) per holding. Automatic re-investments take place between the 11th and 21st of the month and are charged at 1%, minimum £1, maximum £10.- My consideration -is this referring to my 25 pounds per month deposits.

What is Per Holding- Fund or Stock

Paid out: your income will be paid to your nominated bank account.-not a concern.

Your income instruction will apply to all income paying holdings within your account. If you hold other accounts within your Vantage portfolio please remember to update these separately.

Changes to your income instruction made on or after the 9th of the month will take effect in the first ten days of the month that follows.

Thanks in Advance MSEr's

Alistair31

Per holding means per fund. Not per every individual holding within that fund.

masonic

If you've selected Accumulation units (which would be the sensible choice if you are investing in an ISA and don't wish to take an income from the fund) then the income instructions are irrelevant as there won't be any income.

Dandytf

Thanks mser's
That makes sense starting from Per Holding -Fund -I have One.
I have never chosen any specific Units Type -this fund as I understand is ftse350 stocks chosen and Managed by HL Managers.
I had asked the Income question as it's still a choice under account Management and was an Initial choice when signing up, what Id'e prefer is to continue past agreed 12 months to continue in chosen Fund- seems option 2 doesn't refer to my needs.

masonic

Dandytf said:

I have never chosen any specific Units Type -this fund as I understand is ftse350 stocks chosen and Managed by HL Managers.

You have chosen a unit type, although you might not be aware of your choice. The fund has either Income or Accumulation units. If you picked Income then you will receive dividends into your account; if you picked Accumulation then there will be no dividends and this money will instead by reinvested by the fund manager (increasing the value of the Accumulation units).

This would be an example of something it would be good to understand prior to investing.

Dandytf

masonic said:

Dandytf said:

I have never chosen any specific Units Type -this fund as I understand is ftse350 stocks chosen and Managed by HL Managers.

You have chosen a unit type, although you might not be aware of your choice. The fund has either Income or Accumulation units. If you picked Income then you will receive dividends into your account; if you picked Accumulation then there will be no dividends and this money will instead by reinvested by the fund manager (increasing the value of the Accumulation units).

This would be an example of something it would be good to understand prior to investing.

Thanks I don't recall making such a choice though I don't disagree with your Advice.
Though I have online Access I have a few Account Management Options though No Unit Type as yet.
Hopefully when it's fully Active with my Fund Stocks and Deposit, then possibly I'll be able to refer to my chosen Unit Types.
If it doesn't I'll Message HL only if required.

Edited at top of that HL page
Also available as income units 
I'll ask HL if and when required as that is a Site page not taken from my online account.

masonic

Dandytf said:

masonic said:

Dandytf said:

I have never chosen any specific Units Type -this fund as I understand is ftse350 stocks chosen and Managed by HL Managers.

You have chosen a unit type, although you might not be aware of your choice. The fund has either Income or Accumulation units. If you picked Income then you will receive dividends into your account; if you picked Accumulation then there will be no dividends and this money will instead by reinvested by the fund manager (increasing the value of the Accumulation units).

This would be an example of something it would be good to understand prior to investing.

Thanks I don't recall making such a choice though I don't disagree with your Advice.
Though I have online Access I have a few Account Management Options though No Unit Type as yet.
Hopefully when it's fully Active with my Fund Stocks and Deposit, then possibly I'll be able to refer to my chosen Unit Types.
If it doesn't I'll Message HL only if required.

If you have a record of the name of your investment full, then it should end with either Inc or Acc, which will indicate which unit type it is.

Dandytf

masonic said:

Dandytf said:

masonic said:

Dandytf said:

I have never chosen any specific Units Type -this fund as I understand is ftse350 stocks chosen and Managed by HL Managers.

You have chosen a unit type, although you might not be aware of your choice. The fund has either Income or Accumulation units. If you picked Income then you will receive dividends into your account; if you picked Accumulation then there will be no dividends and this money will instead by reinvested by the fund manager (increasing the value of the Accumulation units).

This would be an example of something it would be good to understand prior to investing.

Thanks I don't recall making such a choice though I don't disagree with your Advice.
Though I have online Access I have a few Account Management Options though No Unit Type as yet.
Hopefully when it's fully Active with my Fund Stocks and Deposit, then possibly I'll be able to refer to my chosen Unit Types.
If it doesn't I'll Message HL only if required.

If you have a record of the name of your investment full, then it should end with either Inc or Acc, which will indicate which unit type it is.

Genius answer thanks
maybe ACC was default HL choice which I have found from site fund description.
HL SELECT UK GROWTH SHARES ACC (GBP)
which from that webpage can be changed to 

Inc (GBP)

(Net ongoing charge 0.60%) Unless I have to choose a different fund from my 1st choice.

My   Accumulation unit type -with it being re-invested by HL does that make my manual hold or re invest choice invalid. 

Edited from top of HL Fund Page
Also available as income units 

Note this isn't taken from my Account page which doesn't yet mention Unit type.
I'll ask HL once my Account it fully Active

Thanks all advice tonight