Keep money in L&G Equity Index Tracker Fund?

haye

Hi all,

Just after some advice regarding money that I currently have in a L&G Equity Index Tracker Fund.

When I was a child my parents successfully won a case against the local authority for an accident I had at school and was given compensation which I could access when I was 18. Fast forward to my 18th and the money was automatically transferred into a L&G Equity Index Tracker Fund. At the end of 2023 L&G gave notice that they were to stop online access for this type of account and limit transactions into it.

I haven't touched the money since I got it and have no intention too either but I'm just wondering whether its in the best account?

Since I started tracking my finances in Jan 20 it has gained approximately £700 in value and is now worth around £4118.11.

Would something like a stocks and shares ISA be more appropriate?

masonic

If you are not looking to make changes to the way the money has been invested, then moving into a S&S ISA and buying the same or an equivalent global index fund would make sense. Putting it into an ISA also means you will not need to concern yourself with things like capital gains, although the investment is small enough at the moment for this not to be a concern.

incus432

Just looked up the performance of this L&G fund and compared with Vanguard Dev World (VEVE). (Both distributing). The L&G tracks UK only I think. 

masonic

According to Morningstar it is global, but seems to have a whopping 50% UK bias: https://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F0GBR066XC

Not my cup of tea, at least it isn't UK only.