Virgin Money Investment Funds

EmmaG04

Hello,

With the news that Nationwide is to takeover Virgin Money, I'm wondering how it could affect their investment funds? I have £1000 in a Virgin Money investment fund from when I first starting investing years ago. 

So, I'm wondering if keep the money where it is, cash it in now or transfer it to my current stocks and shares ISA then switch funds.

What are your thoughts?

Thank you 😊

mebu60

Do whatever you would do if you hadn't heard the news that Nationwide might be taking over VirginMoney. 

Dependent upon your personal tax situation, if the VM investment is not sheltered from tax it may be worthwhile moving the cash value in it to your S&S ISA. 

Millyonare

As above, an S&S ISA is (probably) going to be more tax-friendly.

wmb194

EmmaG04 said:

Hello,

With the news that Nationwide is to takeover Virgin Money, I'm wondering how it could affect their investment funds? I have £1000 in a Virgin Money investment fund from when I first starting investing years ago. 

So, I'm wondering if keep the money where it is, cash it in now or transfer it to my current stocks and shares ISA then switch funds.

What are your thoughts?

Thank you 😊

Based on the announcement nothing will change for many years so unless you're looking to consolidate your funds and perhaps look for something that's lower cost I wouldn't worry about it.

dunstonh

With the news that Nationwide is to takeover Virgin Money, I'm wondering how it could affect their investment funds? I have £1000 in a Virgin Money investment fund from when I first starting investing years ago. 

You don't go to VM to get the best and you don't go to NW to get the best.  Both offered robos. So, not worth worrying about.  If you were worried, about things like that you would not have either.

Beddie

I'd say sell it and move it into your ISA, just to keep things tidy, regardless of the takeover. That's assuming you have no other CGT to pay this tax year. Or if it's in an ISA already, do a transfer.

droopsnoot

Are we seeing different things? I've just (09.44 today) had an email from Nationwide and one of the key parts in it says "Whilst this would mark another exciting chapter in our history, there is more work to be done and there is no guarantee that we will make a firm offer, nor that it would be accepted by Virgin Money's shareholders." Or is that just code for "we're definitely buying them"?

wmb194

droopsnoot said:

Are we seeing different things? I've just (09.44 today) had an email from Nationwide and one of the key parts in it says "Whilst this would mark another exciting chapter in our history, there is more work to be done and there is no guarantee that we will make a firm offer, nor that it would be accepted by Virgin Money's shareholders." Or is that just code for "we're definitely buying them"?

The stockmarket announcement sounds far more definite and the share price reaction backs that up but. *Technically* it isn't a firm offer and another hedge is that, of course, it needs to be approved by VM's shareholders but this seems pretty close to a deal.

It doesn't seem like Nationwide's supposed 'owners' have any say in the matter, though.

https://www.londonstockexchange.com/news-article/VMUK/joint-statement-re-potential-cash-acquisition/16365721