Help me trim my portfolio, please.

hoofy

New investor, 56yo, basic rate tax payer.
When the banks started slashing their rates I decided to put my money elsewhere and so I dived into the markets head first just before the vaccines were announced, so decent timing. I really didn't have much of a clue what I was doing but I'm up around 15% through pure luck. I now think a smarter approach might by sensible for the long term so I'll list my investments and hopefully you lovely people can advise me what might be sensible to sell and areas that might need strengthening for a decent balance.
Iweb platform

Stocks and shares account.


HL platform.
S&S ISA account


SIPP


Fund and share account.


Saxo platform
Aggressive portfolio  £15000 invested.
Morningstar moat portfolio  30000 euros invested.

Between them they are up 36% although the morningstar moat is pulling most of the weight.



I think my risk appetite is moderately high.

I have also used up all my CGT allowance for this year.

quirkydeptless

Crikey, that's a mixed bag. What did you use to come up with it?


HL is expensive for funds, the Multi-Manager-Funds even more so. So in need of a No. 1 cut there rather than a trim 

Chickereeeee

Tobacco looks a bit odd amongst a lot of managed funds.

It would help if you said what you were trying to achieve.

C

hoofy

Chickereeeee said:

It would help if you said what you were trying to achieve.

Not really got a plan. I'm single, home owner, no mortgage, own business can keep working as long as I want.

Just trying to make money and provide a bit of entertainment in life.

MaxiRobriguez

Crikey, proper mixed bag there and your distribution of assets isn't the same in the SIPP as it is in the S&S ISA which isn't likely to be ideal for you.

Root and branch review rather than a trim I'd suggest. You've probably got enough capital there to warrant sitting down with an IFA.

Sorcerer2018

You have an odd mix of shares, ETFs, funds and fund of funds. Why hold Lloyds and BATs for example and then buy a tracker in Energy? I would say take a step back and think about what you are trying to achieve for each of your accounts, do you want it for retirement, or for buying a new car etc. what made you pick the odd mix of securities that you currently have? Also think about what happens if they stock market goes down, because we all know it will, how would you feel if you portfolio is down like 20% for example?

Linton

As  others have said, a very odd mixture, highly niche in some areas, very general in others.  Some funds are highly adventurous, others very cautious.   The choices seem arbitrary - why Japanese Small Companies and not UK/Europe/US? I cant sense the overall strategy nor what time frame you are aiming at.

I think you may need to start again once your are very clear why you are investing.  Then design the portfolio top down to meet your objectives.  You should see all your investments as a single coordinated portfolio unless you have a range of objectives over a range of timeframes.  Which particular funds you choose and where you place them does not matter much, certainly far less than getting the overall portfolio to match the objectives.

tacpot12

I agree with all the comments above. There is a lot of scope to achieve a better outcome for yourself by designing an investment strategy and portfolio to implement this strategy. Research has shown that generally people who pay for professional financial advice are better off as a result of taking that advice. Given your age, I expect your would benefit from professional advice and help to plan towards a specific retirement date. 

AlanP_2

MaxiRobriguez said:

Crikey, proper mixed bag there and your distribution of assets isn't the same in the SIPP as it is in the S&S ISA which isn't likely to be ideal for you.

Interested in this point, and would like to understand the rationale?

MaxiRobriguez

AlanP_2 said:

MaxiRobriguez said:

Crikey, proper mixed bag there and your distribution of assets isn't the same in the SIPP as it is in the S&S ISA which isn't likely to be ideal for you.

Interested in this point, and would like to understand the rationale?

Specifically this is because the op has admitted they've jumped in at the deep end, and hasn't thought about the allocations.

 The SIPP is 50% emerging markets and 50% Baillie Gifford Managed in which Tesla makes up the biggest single element of the fund. It's quite racy, not really diversified and significantly more prone to volatility than the other wrappers which include a much bigger allocation to bonds and other geographical spread. It makes it much harder to forecast what the different pots will be worth at some point in the future, and therefore makes it harder for the OP to have a gauge on what sort of money he would have available from the ISA before he could crystalise the SIPP, and therefore has no clue on whether his current investments are suitable to meet his investing goals. 

To me, if the OP has a moderately-high risk appetite then both S&S ISA and SIPP should have a broadly similar approach - global equities, with a bit of cash/bonds/gold to reduce volatility and allow for speculative buy the dip. Op can then forecast in mid-single digit gains over a long timeframe to gauge an idea of what they will have in the different pots. Once that's set then the OP can look at whether they want to start moving into the SIPP assets and get the tax relief bonus as it's likely he will have years to draw from the SIPP anyway.

AlanP_2

MaxiRobriguez said:

AlanP_2 said:

MaxiRobriguez said:

Crikey, proper mixed bag there and your distribution of assets isn't the same in the SIPP as it is in the S&S ISA which isn't likely to be ideal for you.

Interested in this point, and would like to understand the rationale?

Specifically this is because the op has admitted they've jumped in at the deep end, and hasn't thought about the allocations.

 The SIPP is 50% emerging markets and 50% Baillie Gifford Managed in which Tesla makes up the biggest single element of the fund. It's quite racy, not really diversified and significantly more prone to volatility than the other wrappers which include a much bigger allocation to bonds and other geographical spread. It makes it much harder to forecast what the different pots will be worth at some point in the future, and therefore makes it harder for the OP to have a gauge on what sort of money he would have available from the ISA before he could crystalise the SIPP, and therefore has no clue on whether his current investments are suitable to meet his investing goals. 

To me, if the OP has a moderately-high risk appetite then both S&S ISA and SIPP should have a broadly similar approach - global equities, with a bit of cash/bonds/gold to reduce volatility and allow for speculative buy the dip. Op can then forecast in mid-single digit gains over a long timeframe to gauge an idea of what they will have in the different pots. Once that's set then the OP can look at whether they want to start moving into the SIPP assets and get the tax relief bonus as it's likely he will have years to draw from the SIPP anyway.

Thanks, but I still don;t see why ISA and SIPP should have broadly the same asset distributions.

I have different asset allocations in mind for pension and ISA investments that change over time, as tax implications and income sources vary. For example ISA would be invested more aggressively than pensions once retired as why would i want higher taxable growth than non-taxable? 

As long as my overall portfolio is at a suitable risk level then I can't see the issue.