Need to move long term investments.

portlandboy

Hi, I'm a little lost and need some unbiased opinions please.
My wife and I have a Scottish Widows unit-linked investment which has performed okay(ish) over the last 10 years.
It's now not producing an annual profit and, in fact, losing money after the charges.
We're looking to move this money, but not sure where it should be. It's worth just over £90k and, although the wife prefers a more cautious approach than myself, we are happy to split some of the sum into stocks and shares.
So we're after a reasonable return with minimal annual fees and management charges.
Any ideas please? Thanks

Thrugelmir

Perhaps an opportunity to spring clean all your finances. What you could or should do with the money needs to be considered as a whole not in isolation. Mortgage, pension, other debts, moving house etc etc. 

Alexland

Agree with above - have a good think about the objective for this money and therefore the most suitable tax wrapper and likely withdrawal date and align your choice of new investment to your circumstances.

dunstonh

It's now not producing an annual profit and, in fact, losing money after the charges.

I suspect that is a misunderstanding on your part.  Whilst most SW funds are not great, they have no funds that match what you describe.   Until you understand how something works, there is no point looking for something better as you will, inevitably, say the same things about an alternative when a similar scenario occurs in future.

portlandboy

Thrugelmir said:

Perhaps an opportunity to spring clean all your finances. What you could or should do with the money needs to be considered as a whole not in isolation. Mortgage, pension, other debts, moving house etc etc. 

Thanks.
We're in a fairly good place financially speaking. No mortgage or other debts, minimal outgoings, other easily accessible money to fall back on if needed. Both 54 years old, wife has an NHS pension building up, I currently get two small Civil Service ill health pensions.
This money came from the sale of my late father's property and was initially supposed give us about £300 per month to replace the rental income we saw before selling the property. Obviously we're not expecting to see that sort of return now! We're unlikely to need to access it any time soon.

portlandboy

dunstonh said:

It's now not producing an annual profit and, in fact, losing money after the charges.

I suspect that is a misunderstanding on your part.  Whilst most SW funds are not great, they have no funds that match what you describe.   Until you understand how something works, there is no point looking for something better as you will, inevitably, say the same things about an alternative when a similar scenario occurs in future.

I hope I've misunderstood what it means, but this is what I'm using to assume it's lost money.

dunstonh

It doesn't indicate the dates but a £2.31 loss when stockmarkets fell due to coronavirus (and UK equity has still not recovered) does not mean it is making a loss every year.
Investments do not make money every year.  You get good years, negative years and nothing years.  You have to average out the good, the bad and the ugly.    2018 was a negative year, 2019 a positive year and 2020 is broadly breakeven year to date.  Some will be more than others up, or more than others down.
If you can tell us the investment fund(s) it is in, then we can explain it specific to what you have.