Is my ISA allocation too much of the same type of funds

^opm^

Hi,
I know these critique my allocation type questions have been done before but here goes.

50% Vanguard Lifestrategy 80% equity
25% HSBC Global strategy dynamic 
25% HSBC Global strategy balanced

All these funds are accumulation.

I am 50 planning on retirement in next few years, have several workplace pensions totalling approx £220-240k.

So is this too much of the same?

eskbanker

Those three will have massive overlap of underlying holdings but that's not necessarily a problem as such if you're happy with the resultant allocation.

Albermarle

Without knowing how your pensions are invested or how much you have in cash savings etc , it is not that easy to comment .

dunstonh

So is this too much of the same?

VLS and HSBC GS both use underlying passives but they go about it in a different way.

VLS management decisions are to have rigid asset allocation and home bias.   HSBC GS management decisions is to be fluid on the weightings.

Generally, you would have one or the other depending on what management decisions you prefer.   Personally, I would have neither with over £200k but my experience with investing is likely different to yours.

^opm^

Albermarle said:

Without knowing how your pensions are invested or how much you have in cash savings etc , it is not that easy to comment .

They are just invested in fairly standard lifestyle funds with various companies like L&G, Prudential ,Aviva and Royal London from memory

^opm^

dunstonh 

Generally, you would have one or the other depending on what management decisions you prefer.   Personally, I would have neither with over £200k but my experience with investing is likely different to yours.

The actual value is around £420k in my ISA funds

^opm^

Albermarle said:

Without knowing how your pensions are invested or how much you have in cash savings etc , it is not that easy to comment .

Cash around 20k

Albermarle

^opm^ said:

Albermarle said:

Without knowing how your pensions are invested or how much you have in cash savings etc , it is not that easy to comment .

They are just invested in fairly standard lifestyle funds with various companies like L&G, Prudential ,Aviva and Royal London from memory

Are you happy with the lifestyling/standard funds . Have you had a look around to see what else is available on their websites .
Maybe if you have four , you might think about consolidating into just one or two with best fund choice/lowest charges ?

^opm^

The reason i have never consolidated them is that if at least one company goes bust etc with my pension then at least i still have the others. I know folk can say the funds are ringfenced etc but remember Maxwell.

eskbanker

^opm^ said:

The reason i have never consolidated them is that if at least one company goes bust etc with my pension then at least i still have the others. I know folk can say the funds are ringfenced etc but remember Maxwell.

You mean someone whose misdemeanours over thirty years ago led fairly directly to extensive pension protection reforms to ensure that this type of fraud wasn't repeated thereafter?

^opm^

Thats the badger.