Any Interest Paying Product in Fidelity ?

mn1

Good morning 

I have an investment ISA account with Fidelity where I hold some shares and funds.

What is the best use of any cash held within the account while waiting for a buying opportunity ?

I know they pay some interest but I am wondering whether there is any low risk product that can offer better return on cash without having to take money out of ISA ?

Many thanks in advance 

Stargunner

Short term money market funds are paying around 5%.

I don’t have the knowledge to know when it is a good buying opportunity, so I just invest every month. 

How do you determine when the time is a buying opportunity? 

mn1

Stargunner said:

Short term money market funds are paying around 5%.

I don’t have the knowledge to know when it is a good buying opportunity, so I just invest every month. 

How do you determine when the time is a buying opportunity? 

Thank you for your reply, do you know any name of such fund ? I checked some cash funds and the return is lower than the average bank interest rate right now 

I think I used the term "buying opportunity" loosely here. I do not have enough knowledge to spot them correctly either. I have been buying shares with upward trends when their price dips. Some recovered and I made profit , some continued downwards and I lost. Maybe it is time I adopt your approach. 

Thanks again 

InvesterJones

mn1 said:

Stargunner said:

Short term money market funds are paying around 5%.

I don’t have the knowledge to know when it is a good buying opportunity, so I just invest every month. 

How do you determine when the time is a buying opportunity? 

Thank you for your reply, do you know any name of such fund ? I checked some cash funds and the return is lower than the average bank interest rate right now 

It's one of the categories on their investment finder - scroll down at the below link to see the 9 listed. They all have a return around SONIA ie ~5.2% before fees

https://www.fidelity.co.uk/planning-guidance/investment-finder/#?investmentType=funds&filtersSelectedValue={"iMASectorId":{"id":"LC00002297"}}&page=1&perPage=10&sortField=legalName&sortOrder=asc&subUniverseId=MFEI&universeId=FOGBR$$ALL_3521

Albermarle

I think the yield figures refer to the past 12 months, so are a bit lower than what is actually being paid today.

cloud_dog

SOIA / SONIA is yielding c. 5.18%.

The funds 'tend' to have c. 0.07% charge - so down to yielding c. 5.10%

The platform fee for Fidelity (0.35%) will reduce the overall yield for the fund to c. 4.75%. (you may or may not want to include this in your calculations, depending on if your charges are capped).

Beddie

This is what you're looking for, pays Sonia rate as others have stated above.

https://www.fidelity.co.uk/factsheet-data/factsheet/GB00B8XYYQ86-royal-london-short-term-money-mrkt-y-acc/key-statistics