money to invest

edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
4 replies 1K views
louisew433louisew433 Forumite
3 Posts
edited 30 November -1 at 1:00AM in ISAs & Tax-free Savings
hello folks,

im new to all this money lark!! the thing is, i roughly have £6000 as savings, and i would like to know which is the beat ISA account to put it in. i have spoken to a financial adviser and he has recommended a company called Jupiter, where i can invest my money in to an "income trust" account which it's current value is £2.2bn.
they have a website "jupiteronline.com" but it is not up and running yet!
i just wondered if anybody has heard of them and are they any good, if not could anybody recommened another company.
any advise is welcome and appreciated.

Replies

  • EdInvestorEdInvestor
    15.7K Posts
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    Hi Louise

    This looks potentially a bit suspicious.

    Below is the url of a very well known fund management company with a top class reputation:

    http://www.jupiteronline.co.uk/

    Very close to, but not quite the same, as the one you have been recommended.

    I would suggest you exercise great caution with this IFA.
    Trying to keep it simple...;)
  • carnetcarnet Forumite
    501 Posts
    Jupiter Fund Managers, a wholly owned subsidiary of Commerzbank, one of Germany's leading banks, are a very well respected and successful investment house.

    The Jupiter Income fund is run by Tony Nutt, a highly experienced and top quality fund manager.

    However, at well over £2 billion in value this fund is far too big (and, IMHO, consequently unwieldy) for my taste. Although it has an excellent long term track record ( ie when it was somewhat smaller ;)) recent performance has been rather mediocre - 39/77 over 1 year, 32/73 over 2 years (as at 04/05).

    Again, IMHO, there are several UK Equity Income Funds with more potential going forward and you could perhaps check out one or two Investment magazines with UT/OEIC performance tables or visit TrustNet http://www.trustnet.com/ to get some ideas.

    In any event, if you have £6000 to invest you should be thinking of spreading it over several funds, even if they're all in the same or similar sectors, via a fund supermarket such as that offered by Hargreaves Lansdown or Cofunds/FundsNetwork thru a (discount) broker/IFA.

    HTH

    PS I think you probably just misquoted the Jupiter website URL, which EdInvestor correctly gives above :).
  • dunstonhdunstonh Forumite
    107.2K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
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    In addition to above comments and remembering we cant give advice....

    When giving advice on investing like you are, I wouldnt recommend just one fund. with 6k, you have the option to pick 6 funds and ideally you should. Or more importantly, your advisor should.

    One fund investment solutions are old fashioned and this could perhaps suggest that the investments are not an area your advisor specialises in. The advice isnt bad. However, its perhaps not as good as it could be....
    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.
  • competitionscafecompetitionscafe Forumite
    4.1K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
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    carnet wrote:
    In any event, if you have £6000 to invest you should be thinking of spreading it over several funds, even if they're all in the same or similar sectors, via a fund supermarket such as that offered by Hargreaves Lansdown or Cofunds/FundsNetwork thru a (discount) broker/IFA.

    I would agree with this - minimum investment per fund is usually £1000 so you could split your £6000 between 6 funds to spread your risk and achieve a balanced portfolio. As your money will be in shares you need to take a long term view - at least 5 years.

    If you go through a discount broker you will save up to 5% on the initial charge, so on an investment of £6000 you could save up to £300. Discount brokers will give you a general list of 'recommended or suggested funds' but will not give you advice specific to your circumstances - you would need to go to an IFA if you wanted this and they would charge you on a commission or a fee basis.

    You can view discount brokers lists of recommended funds on their web sites:
    eg: Hargreaves Lansdown, Chelsea and Best Invest:
    http://www.hargreaveslansdown.co.uk/research/dampier.asp
    http://www.bestinvest.co.uk/funds/FMPro?-db=webprices.fp5&-format=fundperflist.htm&-lay=fund%5finfo&-op=gt&starlen=2.5&calc%5ffundtype=open&-max=200&-find=&-token=3&-token.2=2&-sortfield=starlen&-sortorder=descending
    http://www.chelseafs.co.uk/pdf/cfspremierleague.pdf
    -
    "The happiest of people don't necessarily have the
    best of everything; they just make the best
    of everything that comes along their way."
    -- Author Unknown --
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