Standard life myfolio III

Morus193
Morus193 Posts: 15 Forumite
in Savings & investments
Hi everyone,

I have recently opened a S&S ISA with standard life and opened Myfolio III, which seemed like a medium risk investment. I would like to open a higher risk fund also to have one higher risk and one medium risk investment. In addition to myfolio III is it possible to open another fund in the same S&S ISA? I am totally new to this kind of thing so any information or suggestions would be greatly appreciated.

Thanks

Comments

  • badger09
    badger09 Posts: 11,200 Forumite
    First Post First Anniversary Name Dropper
    Morus193 wrote: »
    Hi everyone,

    I have recently opened a S&S ISA with standard life and opened Myfolio III, which seemed like a medium risk investment. I would like to open a higher risk fund also to have one higher risk and one medium risk investment. In addition to myfolio III is it possible to open another fund in the same S&S ISA? I am totally new to this kind of thing so any information or suggestions would be greatly appreciated.

    Thanks

    I'm not familiar with the Standard Life platform or its products, but from a quick read here

    https://www.standardlife.co.uk/c1/accounts-and-services/isas/easy-option-features.page

    it seems that you can choose to invest either in their MyFolio range, or in a much wider range using a DIY approach, or in a mix of both.

    This is the norm with S&S ISAs.
  • bostonerimus
    bostonerimus Posts: 5,617 Forumite
    First Anniversary Name Dropper First Post
    You will be charged 1.3% for your ISA. There are far less expensive options. Look at a Vanguard ISA and their multi-asset VLSxx funds. You will be 1% better off immediately.
    “So we beat on, boats against the current, borne back ceaselessly into the past.”
  • Bazofts_Revenge
    Bazofts_Revenge Posts: 299 Forumite
    First Anniversary Combo Breaker
    Standard Life charge 1.03% for a Vanguard Fund! I've enquired as to whether I can transfer some of my fund out but can't close it as I get 3% from my employer into it.
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  • bostonerimus
    bostonerimus Posts: 5,617 Forumite
    First Anniversary Name Dropper First Post
    Bazofts_Revenge wrote: »
    Standard Life charge 1.03% for a Vanguard Fund! I've enquired as to whether I can transfer some of my fund out but can't close it as I get 3% from my employer into it.

    If you have a workplace pension with Standard Life and don't like the fees then talk to your employer about changing it. The OP has an ISA and so I assume can choose whatever provider they like.
    “So we beat on, boats against the current, borne back ceaselessly into the past.”
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