Value of Endowment plummets

barryd999

thanks for the further help.  So it could be possible just to continue paying into this fund beyond October?
I am on hold to L and G right now and have been for 40 minutes so far.  Just tried to register on their website and it threw up an error. So basically Im in the dark right now as regards any contact with them.  

Old_Lifer

I've just looked at this again and  the ISA  contribution appears  to go into a unit trust and not a life fund  and seems to be dealt with on a year by year basis  i.e you can continue paying into the ISA as long as you don't contribute  into a similar ISA elsewhere.

Presumably,  the cost of the cover  is deducted from the pot and rises each year.

An unusual product.    Please let us know  how you get on.

Old_Lifer

So far, all we know is the  'Key Features'  of the product.

If you are unable to get through  on the  'phone,   may I suggest that you read through the  policy document,  which will set -out the full terms and conditions  and may perhaps answer your question.

barryd999

I had a reply back from Legal and General.  They reckon I can work out the value of my fund but I cant see how or where to do it. This is what they sent me in the secure email.

Thank you for your email.

 As stated in my last email you are unable to view this plan on line.

 To track the unit price on the fund you are investing into go to our Legal & General website www.legalandgeneral.com

 Click on the top left hand corner it is showing 3 lines

Click on Investments and scroll to down to Funds and click on Full Fund Range

Scroll down to UK Index trust & view fund scroll down to pricing and charges. This will show you the unit price

The units you each hold is x,xxxx.xx.  You times your units by the unit price. This will give you your surrender value.

Please note that your units will increase each month.

 I have tried to follow these instructions but they simply do not work. There are no 3 lines at the top left corner.

Can anyone advise me of a way to track this fund online please?  I know the number of units we hold.  

wmb194

barryd999 said:

I had a reply back from Legal and General.  They reckon I can work out the value of my fund but I cant see how or where to do it. This is what they sent me in the secure email.

Thank you for your email.

 As stated in my last email you are unable to view this plan on line.

 To track the unit price on the fund you are investing into go to our Legal & General website www.legalandgeneral.com

 Click on the top left hand corner it is showing 3 lines

Click on Investments and scroll to down to Funds and click on Full Fund Range

Scroll down to UK Index trust & view fund scroll down to pricing and charges. This will show you the unit price

The units you each hold is x,xxxx.xx.  You times your units by the unit price. This will give you your surrender value.

Please note that your units will increase each month.

 I have tried to follow these instructions but they simply do not work. There are no 3 lines at the top left corner.

Can anyone advise me of a way to track this fund online please?  I know the number of units we hold.  

The three lines will appear if you make your browser window smaller. Anyway, you don't need them, simply start with the next step, "click on Investments..."

badger09

barryd999 said:

I had a reply back from Legal and General.  They reckon I can work out the value of my fund but I cant see how or where to do it. This is what they sent me in the secure email.

Thank you for your email.

 As stated in my last email you are unable to view this plan on line.

 To track the unit price on the fund you are investing into go to our Legal & General website www.legalandgeneral.com

 Click on the top left hand corner it is showing 3 lines

Click on Investments and scroll to down to Funds and click on Full Fund Range

Scroll down to UK Index trust & view fund scroll down to pricing and charges. This will show you the unit price

The units you each hold is x,xxxx.xx.  You times your units by the unit price. This will give you your surrender value.

Please note that your units will increase each month.

 I have tried to follow these instructions but they simply do not work. There are no 3 lines at the top left corner.

Can anyone advise me of a way to track this fund online please?  I know the number of units we hold.  

I ignored the '3 lines' but followed the rest of those instructions and this is the result:
https://www.legalandgeneral.com/investments/funds/full-fund-range/equities-index-tracking/uk-index-trust/

So you need to multiply the number of units you hold by 249.8. (NB that means £2.498 per unit)

barryd999

badger09 said:

barryd999 said:

I had a reply back from Legal and General.  They reckon I can work out the value of my fund but I cant see how or where to do it. This is what they sent me in the secure email.

Thank you for your email.

 As stated in my last email you are unable to view this plan on line.

 To track the unit price on the fund you are investing into go to our Legal & General website www.legalandgeneral.com

 Click on the top left hand corner it is showing 3 lines

Click on Investments and scroll to down to Funds and click on Full Fund Range

Scroll down to UK Index trust & view fund scroll down to pricing and charges. This will show you the unit price

The units you each hold is x,xxxx.xx.  You times your units by the unit price. This will give you your surrender value.

Please note that your units will increase each month.

 I have tried to follow these instructions but they simply do not work. There are no 3 lines at the top left corner.

Can anyone advise me of a way to track this fund online please?  I know the number of units we hold.  

I ignored the '3 lines' but followed the rest of those instructions and this is the result:
https://www.legalandgeneral.com/investments/funds/full-fund-range/equities-index-tracking/uk-index-trust/

So you need to multiply the number of units you hold by 249.8. (NB that means £2.498 per unit)

Thanks Badger (and all). Schoolboy error. I did find that page before but firstly I forgot to divide the figure I got by a hundred (thought I was a millionaire for a minute) and secondly then to double it as the number of units they told me we held was "each" (as in we both hold the same number).  So its over £34k now which is around the figure L&G have coincidentally quoted me today just this minute which prompted me to check the thread.  so its gone up £6k in a couple of months.  Question is, What to do next. Keep it going or cash it in?  Anyone got a Crystal ball?  Actually its a half serious question. Clearly something has gone right since it dipped so much for it to then recover so quickly.  Any ideas what and if it will continue to rise at the same rate?

badger09

You need to give this some more thought.

You originally took out this product with a view to using it to pay off your mortgage. You've paid off your mortgage, so now you don't appear to have a reason to hold this product.

2 simple questions to get you started:
1) If you cash it out, what will you do with £34k (give or take a few £k depending on how long to take to decide, and what happens to the FTSE All Share Index while you're thinking about it)

2) If you had a windfall of £34k now, would you invest it?
If the answer is yes, would you invest it all in the FTSE All Share Index because you think that's the most suitable investment to achieve what you want?
Hint: I suspect the answer is 'no' because you didn't even know what you were invested in.

If this is your only investment, most regular posters on here would say it is almost certainly not suitable and very high risk. 
Please don't do anything in a hurry though - these are just my musings and it is not my £34k. 

barryd999

badger09 said:

You need to give this some more thought.

You originally took out this product with a view to using it to pay off your mortgage. You've paid off your mortgage, so now you don't appear to have a reason to hold this product.

2 simple questions to get you started:
1) If you cash it out, what will you do with £34k (give or take a few £k depending on how long to take to decide, and what happens to the FTSE All Share Index while you're thinking about it)

2) If you had a windfall of £34k now, would you invest it?
If the answer is yes, would you invest it all in the FTSE All Share Index because you think that's the most suitable investment to achieve what you want?
Hint: I suspect the answer is 'no' because you didn't even know what you were invested in.

If this is your only investment, most regular posters on here would say it is almost certainly not suitable and very high risk. 
Please don't do anything in a hurry though - these are just my musings and it is not my £34k. 

Thanks again.  The answers are to question 1 is I have no idea..  I didnt even know it was invested in the FTSE All Share index.  Answer to number 2, dont know that either. Its not our only investment. We have savings in a couple of savings accounts and I have a pension pot (bit more than this one) which was recently transferred to Utmost from Equitable Life.  So basically our other money for now is in safe(ish) cash deposit accounts (not making much) but this one is at the mercy of whatever happens to the FTSE between now and October or when and if i decide to cash it in.

I am not sure what I plan to do with the £34k (was supposed to make £44k by October).  We were originally going to use it towards upgrading our current motorhome, otherwise I guess I would have transferred it to one of our savings accounts.  I dont like the sound of High Risk though, Im fairly middle to high risk averse.  At the moment though its recovered well from the initial dip two months ago.  So does this continued rise totally depend on the performance of the FTSE then?  I feel like an idiot as I dont really understand these things.

badger09

barryd999 said:

badger09 said:

You need to give this some more thought.

You originally took out this product with a view to using it to pay off your mortgage. You've paid off your mortgage, so now you don't appear to have a reason to hold this product.

2 simple questions to get you started:
1) If you cash it out, what will you do with £34k (give or take a few £k depending on how long to take to decide, and what happens to the FTSE All Share Index while you're thinking about it)

2) If you had a windfall of £34k now, would you invest it?
If the answer is yes, would you invest it all in the FTSE All Share Index because you think that's the most suitable investment to achieve what you want?
Hint: I suspect the answer is 'no' because you didn't even know what you were invested in.

If this is your only investment, most regular posters on here would say it is almost certainly not suitable and very high risk. 
Please don't do anything in a hurry though - these are just my musings and it is not my £34k. 

Thanks again.  The answers are to question 1 is I have no idea..  I didnt even know it was invested in the FTSE All Share index.  Answer to number 2, dont know that either. Its not our only investment. We have savings in a couple of savings accounts and I have a pension pot (bit more than this one) which was recently transferred to Utmost from Equitable Life.  So basically our other money for now is in safe(ish) cash deposit accounts (not making much) but this one is at the mercy of whatever happens to the FTSE between now and October or when and if i decide to cash it in.

I am not sure what I plan to do with the £34k (was supposed to make £44k by October).  We were originally going to use it towards upgrading our current motorhome, otherwise I guess I would have transferred it to one of our savings accounts.  I dont like the sound of High Risk though, Im fairly middle to high risk averse.  At the moment though its recovered well from the initial dip two months ago.  So does this continued rise totally depend on the performance of the FTSE then?  I feel like an idiot as I dont really understand these things.

You're not an idiot, but no-one can tell you what to do. 
This particular investment is high risk as it depends totally on the performance of the companies listed on the FTSE All Share Index. When you need the money, you could find its worth only £25k, or it could be worth £45k. If you cash it in now, it will fetch approx £34k, so will never give you as much as £45k but not as little as £25k either.   

Without knowing more about your & your wife's financial situation (age, pension provision, dependants etc), its difficult to make meaningful comments. Apart from your 'small pension pot' it sounds as though all your savings are in cash. That brings its own risk of loss of buying power over time due to inflation.

May I suggest you do some reading around this website before you make any hasty decisions
https://www.moneyadviceservice.org.uk/en/articles/investing-beginners-guide