Where to keep funds in short term

20122013

https://forums.moneysavingexpert.com/discussion/comment/81979007#Comment_81979007

thanks for the explanation. my order was to sell no. of units (OEIC) so I do not know the NAV price, so is there a way to factor in their fee so they do not take it from my units (OEIC) I do not think there is.

20122013

MONEY MARKET FUNDS

I am looking at

GB00BFYDWM59 (Vanguard) (OEIC)

and

GB00B8XYYQ86 (Royal London) ETF

As the ETF is not covered by FSCS. I am thinking of splitting the amount to place between the MMFs? what would the maximum amount be placed in the Royal London ? as I was going to do 50/50 but may 70/30 due to the ETF and only parking there for 4 weeks and a bit nervous with ETFs

masonic

The Royal London fund is not an ETF.

20122013

https://forums.moneysavingexpert.com/discussion/comment/81979060#Comment_81979060

Royal London.jpg

The BUY and SELL prices make me think is an ETF?

At the end of the fund name it does say 'ACC'

Am I looking at the right fund? (finding funds on ii is no easy for me).

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81979128#Comment_81979128

The wording at the foot saying "Legal Structure: Open Ended Investment Company" is a better indicator…

Nurse2047

if useful for anyone un-invested cash in Trading 212 s&s isa pays me 3.8%, was higher originally as new investor

thunderroad88

if you’re definitely going to reinvest all your cash back into stocks within a month I’d question the value of putting the cash into a mmf…you will incur small charges every time you sell some mmf units to free up cash unless you release it all at once to buy your funds, and that hardly seems worth the bother. If you think you’ll be retaining your investable cash for longer than a month (and that’s pretty possible in the current volatile environment) then certainly use mmf. In addition to previously mentioned fubds, there is another new instant access etf ERAN, which is an ACC version of the very popular ERNS ultra short dated bond fund. I use it as well as the various RL short term mmf and fixed income funds to hold my cash.

20122013

Appreciate the replies, as I am open to more options,

@thunderroad88 , would you mind sharing the symbols or ISINs of the funds mentioned, please?

aroominyork

https://forums.moneysavingexpert.com/discussion/comment/81979721#Comment_81979721

Not sure I agree with this. Say the amount is £20k and earns 1.1% as cash balance or 3.9% in Royal London's STMMF, the respective monthly incomes are £18.33 and £65. Even with the £1.49 trading costs (if no trading credits are available) and taking into account that RL will be out of the market for one day after sale, it is probably worth investing.

thunderroad88

https://forums.moneysavingexpert.com/discussion/comment/81979991#Comment_81979991

Depends if it’s in for a whole month and also whether the OP sells the mmf all in one go as to the selling fees….on the buying side, if the OP is buying 4 or 5 ETFs that is £20 in fees. I guess it depends how much you value £30 in the grand scheme of things, and I know what the name of this site is, but personally I wouldn’t worry about saving £30…the convenience of having the cash ready to buy immediately and possibly taking advantage of a daily drop if buying ETFs would be more important to me.