What should I do with my Peps in HBOS, Abbey, and Standard Life?

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
4 replies 828 views
nitse_cnitse_c Forumite
3 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
I have invested Peps since 1996 in HBOS, Abbey and Standard Life, with lump sums of £6000 in each. Peps in HBOS performed better last year, than Peps in Abbey and Standard Life. Following the current financial crisis all the money I have invested in these Peps have gone under the initial investement. Current balance for Abbey is around £4500; HBOS is £5800; and still waiting to hear from Standard Life. I initially invested this money for my pension while I was employed. I am now unemployed. I am unsure what action to take. I do not urgently require this money that I have invested, however I am worried that I may end up making further loses.
Does anyone have any suggestions as to what I should do?

Replies

  • dunstonhdunstonh Forumite
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    Picking a limited number of shares to invest in is always risky and you have managed to pick shares in 2 banks and an insurer and those sectors have been heavily hit in markets over the last year.

    You havent lost as much as I thought you should. Have you really got shares in those companies or is it that they are the administrators and the investments are something else?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • As far as I am aware HBOS, Abbey and Standard Life are the administrators and the investments are spread out.
  • dunstonhdunstonh Forumite
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    In which case you are not invested in HBOS, Abbey and Standard Life and the performance of the different ISAs are not down to the administrator.

    What are your investments?
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • EdInvestorEdInvestor
    15.7K Posts
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    They've probably been turned into ISAs now. Although it's early days, the markets are showing a more positive tone of late, so I would tend to stay put, depending on what you are actually invested in.

    You may however be paying excessive charges and this may be worth looking into.It may be more cost effective to transfer your PEP/ISAs to a low cost provider.It's quite possible to reinvest the money in the same underlying funds at the new account.
    Trying to keep it simple...;)
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