Choosing a Money Market fund

RogerPensionGuy

NedS said:

RogerPensionGuy said:

A bit of drift, but I'm a bit confused, any pointers or information most welcome on my not understandings.

I have a Vanguard and Aviva ISAs and normally just leave the pot in their pretty standard worldwide index tracker units and like most else fairly flatish the last 12/18 months and decided to swop some units in to their money market sterling for a change(bar of soap I know)

The Aviva units increase daily Tuesday to Friday and I notice on a Monday it jumps up 3 fold approximately. 

Reference the Aviva, I'm surprised how different the increase is daily, I thought it would be pretty steady and it's certainly way below say 5% Sonia rate

That's because the price on a Monday has to reflect the interest (or return) from Sat, Sun and Monday hence a gain approximately 3 fold the 'daily rate' to account for the weekend when markets are closed and the fund cannot be priced. You still earn interest 7 days per week, not just five

Not the difference between Monday and the next 4 daze.

The difference between say Tuesday to Thursday nights.

Sea_Shell

Does anyone know if Aviva allow you to buy MMFs within their SIPP ?

I've tried searching their Fund Centre, but nothing comes up when I filter on MMF.    

What am I doing wrong (assuming they are available)?

Doctor_Who

Sea_Shell said:

Does anyone know if Aviva allow you to buy MMFs within their SIPP ?

I've tried searching their Fund Centre, but nothing comes up when I filter on MMF.    

What am I doing wrong (assuming they are available)?

I don't use Aviva so don't know their system. Have you tried searching using the ISIN? E.g. Royal London STMMF (acc) is GB00B8XYYQ86. Pickafund indicates the RL STMMF is available on Aviva (other STMMFs may also be):

https://pickafund.com/platforms-whereto-invest/GB00B8XYYQ86/royal-london-short-term-money-market-fd

RogerPensionGuy

Sea_Shell said:

Does anyone know if Aviva allow you to buy MMFs within their SIPP ?

I've tried searching their Fund Centre, but nothing comes up when I filter on MMF.    

What am I doing wrong (assuming they are available)?

Yes they do.

They are returning just over 5% the last few weeks.

Yes a bit tricky to find them, I called them up and they explained it to me.

Sumthink like when viewing funds you need to tick or pick an option for Sumthink like xxxxx returns or sumthink of the like whatever. 

I'll dig later and see if I can remember. 

Or just call them, took 2mins, I find Aviva pretty good.

Sea_Shell

Also, is a MMF really needed, if they are currently paying ~4.4% on standard cash held within the sipp?

Albermarle

Sea_Shell said:

Also, is a MMF really needed, if they are currently paying ~4.4% on standard cash held within the sipp?

I would guess it depends on the amount of money involved and the time scale.
Also if Bo E rate goes up again and the Aviva cash rate does not, then the gap will widen a bit.

dunstonh

Does anyone know if Aviva allow you to buy MMFs within their SIPP ?

Yes, as  the Aviva SIPP is a SIPP.       All the STMMs you would expect to see are present.    

RogerPensionGuy

RogerPensionGuy said:

Sea_Shell said:

Does anyone know if Aviva allow you to buy MMFs within their SIPP ?

I've tried searching their Fund Centre, but nothing comes up when I filter on MMF.    

What am I doing wrong (assuming they are available)?

Yes they do.

They are returning just over 5% the last few weeks.

Yes a bit tricky to find them, I called them up and they explained it to me.

Sumthink like when viewing funds you need to tick or pick an option for Sumthink like xxxxx returns or sumthink of the like whatever. 

I'll dig later and see if I can remember. 

Or just call them, took 2mins, I find Aviva pretty good.

Just went on my mobile, I has to select additional funds and I could see another 20 odd funds including MMF.

However, it may just show me as I ticked a possibly different button before on a desktop.

Call them tomorrow, 2min task.