Scottish Widows Investment

gherkin

Hi all

I'm at a bit of a crossroads regarding the above. I currently pay £250pm into a Scottish Widows OIEC (whatever one of those is, although I know it is related to the stock market in someway). Now after monitoring this for several months it is worth about £250 less than what i've put in at the moment. I've had it a year so far and its worth about £3250 and i beleive i've paid in £3500.

Now my question is should I close this and place it into something else to make it work harder or should I stick with it and wait for the markets to increase. I'm hoping to get it to a value of £10k in about 3 years to pay of the developers of my house.

many thanks for you help

gherk

earlgrey_3

If you started 12 months ago chances are it's about par for the course. You need to find out which fund you're in. Then if you look here you can compare it with other similar funds for past performance www.trustnet.com or here http://www.h-l.co.uk/fund_research/fund_research.hl where you can set up a chart and compare it with other funds and a suitable index. If it's invested in UK equities you'd like it to at least equal the FTSE All share.

If you're putting everything in a single fund you'll probably have a bumpier ride than if you spread your lolly among a few different funds with different fund managers investing in several different markets.

You might find these suggestions for building a portfolio useful http://www.chelseafs.co.uk/documents/CFSViewpoint20AW.pdf

gherkin

thanks very much earlgrey I will look into the funds this week