Can I switch stocks and shares ISA investment

missymouse

My fund is not performing well and is in - figures. I’m not sure I want to put anymore money in there 

Ooh my previous fund which is dormant is doing much better with what is in there 

am I able to put cash in there instead or is too late  for this tax year

eskbanker

Depends what you mean by 'dormant' and 'put cash in there' - you're constrained to contributing no more than £20K per tax year into an ISA, but once the money is within the wrapper you can do what you like with it.  That doesn't necessarily make it a good idea to be unduly influenced by short term value fluctuations, but it should be possible to redirect current year contributions into whichever fund you prefer if I'm understanding what you have in mind....

canaldumidi

and you should be able to switch the funds you are invested in within the ISA wrapper.

But if you want a more defintive answer, you'd need to either tell us exactly where your money is invested, and how, or contact your ISA provider to see whether a) they offer alterative investment opportunities to those you are currently invested in, or whether they allow you to 'transfer out' to another ISA provider.

missymouse

Thanks both

Dormant - I haven’t added any funds for 2:years’ but left money in there with one provider 

current Vanguard fund Y3 and so far added £500 this tax year

eskbanker

missymouse said:

Thanks both

Dormant - I haven’t added any funds for 2:years’ but left money in there with one provider 

current Vanguard fund Y3 and so far added £500 this tax year

Assuming you're not paying into any other ISAs, you can pay another £19,500 into the same S&S one you've already started paying into this year, and use it to buy whichever funds you like once in there.  It's still unclear to me if you're suggesting any sales or transfers from the funds (in the sense of investment products, not cash) you already hold?

missymouse

The Vanguard one A is performing badly, I wish I hadn’t started adding to it for 22/23

I wanted to use the other £19500 to invest in my previous fund B with another previous provider for this tax year. What would happen to my contributions if I went ahead and did this. 

eskbanker

missymouse said:

The Vanguard one A is performing badly, I wish I hadn’t started adding to it for 22/23

I wanted to use the other £19500 to invest in my previous fund B with another previous provider for this tax year. What would happen to my contributions if I went ahead and did this. 

You can only pay new money into one S&S ISA in any tax year, so if you've already paid into one provider this tax year then you can't now pay into an S&S ISA with a different provider, but could buy into fund B via your 2022/23 provider if they offer that?

Alternatively you could make a partial ISA transfer of your 2022/23 contributions from the provider you've already funded to the other one (originated from the latter), if both support this....

It may make things a little less opaque if you share the names of the platforms and the funds rather than keeping them anonymised!

tebbins

missymouse said:

My fund is not performing well and is in - figures.
1. Has not been performing well, a funs is never 'performing' in the continuous sense.
2. Welcome to the early 2022 stock and bond market correction.
 I’m not sure I want to put anymore money in there.
Recent performance is one of the worst indicators of future performance. Making a decision on the basis of recent performance is one of the worst reasons to make ah investment decision.

Ooh my previous fund which is dormant is doing much better with what is in there 
What do you mean by dormant?

am I able to put cash in there instead or is too late  for this tax year

There has never been anything stopping you doing this.

As above.

missymouse

Dormant fund - not being added to for 2 years’ but has money in there and growing as I started a Vanguard life strategy which is getting a - return at the moment

i wish I had cancelled my direct debit for the Vanguard fund but have already added to it for May

dunstonh

My fund is not performing well and is in - figures.

That is not an indication of it not performing well. Pretty much everything is in negative figures over the last 5 months.

I’m not sure I want to put anymore money in there 

Over the long term, the money you put in during negative periods typically goes on make you the most.

Basically, you appear to be measuring different funds, investing in different areas over different periods.  That is not the right way to do it.

I once had a chat with someone that told me that their original fund was a bad performer but the new one was a good performer.  I looked at the old one he had and the new one.  Both were UK equity funds. The difference was the guy had the "bad performing" one during the dot.com crash and the "good performing" one during the recovery.   Had he stuck with the old fund, it would have gone up more.   But he just couldn't get it.