HL SIPP cash
in Savings & investments
9 replies 601 views
Looking for a safe haven for the spare cash sitting in my HL SIPP which would give a better return than HL are giving me on cash. I want to keep it in the SIPP and it needs to be an ETF really to avoid HL fees. I don't want to put the cash in a "wealth preserver" type of IT.
One option is XTRACKERS II GBP RATE SWAP UCITS ETF (XSTR). It is an ETF tracking the SONIA total return index which is the rate UK banks lend to each other at.
I bought XSTR with the spare £130 I had in my Investengine account. Over 2 months I am up over 50p.
Not a stellar return but it is relatively risk free and without volatility. Bank rates are increasing and according to the factsheet below the sonia rate is 2.93% at 30 November 2022. The fee is 0.15%pa.
XSTR appears to be a good option but before I buy it in my SIPP does anyone have any views or alternative suggestions?
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