Money market ETF recommendation

a03b

Hello, I topped up my 20k allowance on my Barclays Smart Investor ISA.

Now I need to invest this. I do not want exposure to stocks as I have plenty. Can you recommend me a low fee money market fund that will basically earn me the risk-free rate? I don't want to get REKT by fees though

Many thanks

Beddie

Royal London Short Term Money Market Fund

is a good choice.

Aidanmc

If you don't want to get hit by fees I suggest moving to a different platform.
Barclays looks like charges are 0.25% pa and £6 per trade.
Not a recommendation but you could look at Invest engine or Trading 212, probably others also

MeteredOut

Beddie said:

Royal London Short Term Money Market Fund

is a good choice.

This and Amundi Smart Overnight Return (CSH2) are the two i see mentioned most often.

The latter is an ETF and has a slightly lower charge  (0.07% versus 0.10%).

I'd second not using Barclays for this. I've use InvestEngine and have some of my ISA in CSH2.

aroominyork

Royal London Short Term Money Market Fund seems to have the best reputation as an OEIC, although there's little between the top few. CSH2 tends to win for ETFs; the spread varies during the day, sometimes going over 0.10%, regularly being 0.03% and sometimes being as low as 0.01%.

Stargunner

IWeb are popular on here. They are owned by Lloyds Banking group, don't charge account fees and it is just £5 for a trade.

poseidon1

Fidelity Cash ( class w ). An oeic, but one of the few cash funds paying out monthly rather than quarterly or bi yearly. Current distribution yield just under 5%.

Notepad_Phil

poseidon1 said:

Fidelity Cash ( class w ). An oeic, but one of the few cash funds paying out monthly rather than quarterly or bi yearly. Current distribution yield just under 5%.

Royal London Short Term Money Market Income now does monthly too (since about November I think) - though most platform fund sheets still show it as bi-yearly and you have to look at the price chart (price, not total return) to see it happening.

soulsaver

ISA is obv tax free. How is the income/gain treated outside a wrapper on these? 

Sam_666

MMF are not risk free.
If you want risk free savings, stick to savings products, not investment products.

poseidon1

Notepad_Phil said:

poseidon1 said:

Fidelity Cash ( class w ). An oeic, but one of the few cash funds paying out monthly rather than quarterly or bi yearly. Current distribution yield just under 5%.

Royal London Short Term Money Market Income now does monthly too (since about November I think) - though most platform fund sheets still show it as bi-yearly and you have to look at the price chart (price, not total return) to see it happening.

Thanks for the heads up. HL still indicate bi annually but I see both Fidelity and A J Bell show monthly so on this basis will add some RLSTMM to the Fidelity holding. 👍