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  • FIRST POST
    • Cliddy
    • By Cliddy 9th Aug 18, 5:07 PM
    • 185Posts
    • 18Thanks
    Cliddy
    A good cheap investment manager ?
    • #1
    • 9th Aug 18, 5:07 PM
    A good cheap investment manager ? 9th Aug 18 at 5:07 PM
    I've currently got a small to medium isa portfolio with fidelity. Because I'm fed up with them I want to look elsewhere for a manager. But have a couple of questions.

    I have no issue changing banks, utilities, insurance etc etc. but am a bit reluctant to risk the ISAs with a dodgy changeover.

    It would need to be reletively low cost fees.

    Also what happens if the new provider doesn't offer a particular scheme I've got , let's say for instance Fidelity China?

    Any advice appreciated.
Page 2
    • AlanP
    • By AlanP 9th Aug 18, 9:45 PM
    • 1,221 Posts
    • 880 Thanks
    AlanP
    The problem is my current portfolio developed over the last 10 years or so has produced good returns based on my requirements above.
    So I ask myself why change. BUT ...... they were selected by me, so something must be wrong !!!
    Originally posted by Cliddy
    In the same spirit as your earlier point about "tone" on a forum such as this:

    A blind monkey with a pin would probably have had good returns over the last 10 years as we have had a very strong bull run for both equities and bonds. Who knows what we will get going forwards.

    I know very little but have had good returns. Retirement is now only a few years away so I am slowly moving across to a more defensive mix that "banks" some of those gains and is less likely to go down as dramatically but won't get such good returns if the bull market continues.

    Like OMG said what are you trying to achieve, by when?

    You do have a fairly high number of funds by the sounds of it, may be a good thing and maybe not. What does the overall Asset Allocation look like? Are some overlapping with others? Do you know "why" you have each one in your portfolio (what role is it doing for you)? Do you have the major geographical areas and / or sectors covered?

    These are all the sorts of questions that get discussed on here when "what should I buy" "what do you think of this idea" type threads come up.

    One final thought which may or may not apply - You haven't mentioned your age or if you have a spouse / partner who would inherit these if you passed away? If you do would they want to manage 25 funds or would a simpler portfolio make that easier for them if the worst happened?
    • OldMusicGuy
    • By OldMusicGuy 9th Aug 18, 10:32 PM
    • 505 Posts
    • 985 Thanks
    OldMusicGuy
    Thanks for this. I'm fully retired, company pension and SP. No debts. So money is for luxuries, travel and health type emergencies etc. So definitely not very long term.
    I suppose I too would be looking for secure growth, able to see through global upsets (Trump) and not expecting unreasonable returns.
    The problem is my current portfolio developed over the last 10 years or so has produced good returns based on my requirements above.
    So I ask myself why change. BUT ...... they were selected by me, so something must be wrong !!!
    Originally posted by Cliddy
    Like AlanP says, anyone could have done that over the last 10 years. Pretty much everything has gone up due to fiscal policies that are now being unwound.

    Here's your conundrum. There is no such thing as "secure growth" in investments. We are likely to be facing bigger market swings in the next 5 years than we have seen recently, so do you have a set of funds that is at the risk level you want to take on?

    If it were me, I would be looking at holding a combination of cash and lower equity ratio passive funds if the money was to be spent over the next 5 years or so, but I am very risk averse. More risk-embracing types would probably say keep it invested in higher risk funds and use a withdrawal-rate approach each year. If you have a bad year and the funds go down, don't take any money out, or take out less than you would in a good year.
    • Cliddy
    • By Cliddy 9th Aug 18, 11:36 PM
    • 185 Posts
    • 18 Thanks
    Cliddy
    My answer. If you've got 25 funds ina small to medium sized investment, let's say under 100k, then the odds are you've created your own personal but more expensive global tracker.

    The other thing that comes up here often is that people have tiny amounts in some funds, let's say again in the context of your (my guess) 100k, under 1k, eg less than 1%, which is a bit pointless.

    And finally as others have posted, if you bought those with a strategy in mind and are keeping them all at 4% that's quite a lot of work, possibly with buy sell cost as well.

    If you are feeling bold, post them here.
    Originally posted by AnotherJoe
    Good guess, yes just under 100k, I'll take you up on your challenge and list them here. It'll have to be tomorrow now. Watch this space, if you promise not to mock !!
    • Cliddy
    • By Cliddy 10th Aug 18, 5:00 PM
    • 185 Posts
    • 18 Thanks
    Cliddy
    My answer. If you've got 25 funds ina small to medium sized investment, let's say under 100k, then the odds are you've created your own personal but more expensive global tracker.

    The other thing that comes up here often is that people have tiny amounts in some funds, let's say again in the context of your (my guess) 100k, under 1k, eg less than 1%, which is a bit pointless.

    And finally as others have posted, if you bought those with a strategy in mind and are keeping them all at 4% that's quite a lot of work, possibly with buy sell cost as well.

    If you are feeling bold, post them here.
    Originally posted by AnotherJoe
    Well you did ask, here they are! Until I came on this forum I didn't know I'd be ashamed of the numbers.
    They are split between my wife's and my account, some duplicated across both.
    Some very small amounts (200 ish) about 100k total.
    I'm looking for shortish timescale return (probably around 5 years) low risk and therefore acceptance of a lower return. They are all in an ISA.

    Vanguard LifeStrategy 80% Equity A Inc

    Stewart Investors AsiaPac Ldrs B Inc GBP

    Rathbone Global Opportunities I Acc

    Neptune India C Acc GBP

    M&G Global Macro Bond GBP I Acc

    Lindsell Train Global Equity B GBP Inc

    Jupiter Asian Income I GBP Inc

    JPMorgan Global Emerg Mkts Inc Ord

    JPM Emerging Markets Income C Net Inc

    HSBC FTSE 250 Index C Acc

    Fundsmith Equity I Inc

    Fidelity MltAsst Inc & Gr N Inc

    Janus Henderson UK Absolute Return I Acc

    Fidelity Multi Asset Defensive N Acc

    Fidelity MoneyBuilder Income Y Acc

    Fidelity Global Special Sits W Acc

    Fidelity American W Acc GBP

    BNY Mellon Long-Term Global Eq Int W Acc

    BlackRock Frontiers Ord

    BlackRock Consensus 70 D Acc

    Baillie Gifford Global Discovery B Acc

    Stewart Investors AsiaPac Ldrs B Inc GBP

    Scottish Mortgage Ord

    Premier Multi-Asset Distribution C Inc

    Liontrust Macro Equity Income I Inc

    Janus Henderson Global Technology I Acc

    Finsbury Growth & Income Ord

    Fidelity MltAsst Income N Inc

    Fidelity Global Dividend W Inc

    Fidelity China Focus Y-Dis-GBP

    Fidelity China Consumer W Acc
    • talexuser
    • By talexuser 10th Aug 18, 5:26 PM
    • 2,433 Posts
    • 1,931 Thanks
    talexuser
    Wow......!
    • Linton
    • By Linton 10th Aug 18, 5:54 PM
    • 9,568 Posts
    • 9,776 Thanks
    Linton
    Well you did ask, here they are! Until I came on this forum I didn't know I'd be ashamed of the numbers.
    They are split between my wife's and my account, some duplicated across both.
    Some very small amounts (200 ish) about 100k total.
    I'm looking for shortish timescale return (probably around 5 years) low risk and therefore acceptance of a lower return. They are all in an ISA.

    .......
    Originally posted by Cliddy

    I would class most of the funds you have chosen as higher return/higher risk and do not satisfy your requirements. With that portfolio it would seem that you have a non-trivial risk of losing out over 5 years, though that obviously depends on the % allocation, which you havent specified. 5 years is an often quoted minimum to be seriously invested in equities at all.
    • Cliddy
    • By Cliddy 10th Aug 18, 6:15 PM
    • 185 Posts
    • 18 Thanks
    Cliddy
    I would class most of the funds you have chosen as higher return/higher risk and do not satisfy your requirements. With that portfolio it would seem that you have a non-trivial risk of losing out over 5 years, though that obviously depends on the % allocation, which you havent specified. 5 years is an often quoted minimum to be seriously invested in equities at all.
    Originally posted by Linton
    But the point is they were chosen 10 years ago at least. So adding on the future 5 years that would seem to fit a fairly sensible choice, back then, and of course they have done well over that time.

    My problem is that now I will want to secure that profit and have funds that will see me securely through the final 5 years. I'm not intending to pop off then, but may want to start cashing in.

    Are there any obvious ones that I could keep and dispose of the remainder, or is that going a stage too far on a forum.
    By the way I started this thread seeking advice on a new platform.
    I think I'll drop that now, at least for the time being.
    • Linton
    • By Linton 10th Aug 18, 8:09 PM
    • 9,568 Posts
    • 9,776 Thanks
    Linton
    But the point is they were chosen 10 years ago at least. So adding on the future 5 years that would seem to fit a fairly sensible choice, back then, and of course they have done well over that time.

    My problem is that now I will want to secure that profit and have funds that will see me securely through the final 5 years. I'm not intending to pop off then, but may want to start cashing in.

    Are there any obvious ones that I could keep and dispose of the remainder, or is that going a stage too far on a forum.
    By the way I started this thread seeking advice on a new platform.
    I think I'll drop that now, at least for the time being.
    Originally posted by Cliddy

    Will you really convert the lot to cash in 5 years time or will it be an ongoing source of income? If the latter how often will want cash and how much?


    If you will want 100% cash in 5 years time you could put say 50% in cash now and then reduce your other holdings over time.


    If you will still be looking for a long term investment then there are other options.
    Last edited by Linton; 10-08-2018 at 8:17 PM.
    • Alexland
    • By Alexland 10th Aug 18, 8:45 PM
    • 2,972 Posts
    • 2,319 Thanks
    Alexland
    Where to start...? How about why did you go for both VLS80 and Blackrock Consensus 70? What is your actual tollerence to percentage loss across the whole account? Are you OK if the whole portfolio goes down 50% for a while?
    • AnotherJoe
    • By AnotherJoe 10th Aug 18, 9:31 PM
    • 10,136 Posts
    • 11,399 Thanks
    AnotherJoe
    Would have helped to have the %.
    This portfolio has probably served you well, but won't going forward. Sell Everything unless you have a few favourites or convictions that they will do well, and buy one or two global funds with the proceeds at a risk level that fits what you want.
    • Cliddy
    • By Cliddy 10th Aug 18, 9:37 PM
    • 185 Posts
    • 18 Thanks
    Cliddy
    Considering I didn't start the thread with this in mind, it's probably got out of control now answering all the specific questions. Not that I don't appreciate the help.

    I really am not planning my future to that extent. I have sufficient income to live comfortably and see these particular investments as a safety net for the nasty things that can happen in old age. And more positively to enable luxuries as and when.

    So if I change anything I need a safe, secure, probably low return investment. But more than sticking it in 5 year savings account.
    • Alexland
    • By Alexland 10th Aug 18, 9:40 PM
    • 2,972 Posts
    • 2,319 Thanks
    Alexland
    So if I change anything I need a safe, secure, probably low return investment. But more than sticking it in 5 year savings account.
    Originally posted by Cliddy
    Sounds like you might as well put the lot into something like VLS60, HSBC GS Balanced or Consensus 70 with a bit of cash for when markets are low. What you have now does not look like what you want.

    Alex
    Last edited by Alexland; 10-08-2018 at 9:42 PM.
    • Cliddy
    • By Cliddy 10th Aug 18, 9:42 PM
    • 185 Posts
    • 18 Thanks
    Cliddy
    Would have helped to have the %.
    This portfolio has probably served you well, but won't going forward. Sell Everything unless you have a few favourites or convictions that they will do well, and buy one or two global funds with the proceeds at a risk level that fits what you want.
    Originally posted by AnotherJoe
    Thank you, others probably won't agree, but that's the soundest and nearest to my thinking that's come across.

    Don't worry I won't just take one person's advice, as I'm big enough and ugly enough to form my own opinion as well.

    Many thanks for contribution.
    • Audaxer
    • By Audaxer 10th Aug 18, 10:12 PM
    • 1,226 Posts
    • 735 Thanks
    Audaxer
    So if I change anything I need a safe, secure, probably low return investment. But more than sticking it in 5 year savings account.
    Originally posted by Cliddy
    Maybe cashing it all in and investing into something like VLS40 or HSBC Global Strategy Cautious would be more suitable if you're now looking for much lower risk.
    • AnotherJoe
    • By AnotherJoe 11th Aug 18, 10:45 AM
    • 10,136 Posts
    • 11,399 Thanks
    AnotherJoe
    Thank you, others probably won't agree, but that's the soundest and nearest to my thinking that's come across.

    Don't worry I won't just take one person's advice, as I'm big enough and ugly enough to form my own opinion as well.

    Many thanks for contribution.
    Originally posted by Cliddy
    I am taking my own advice, I'm in a similar position to you, i have a real mish mash of funds in one of my two SIPPs (the other is very global 100% equities invested in 4 funds), all there for a variety of reasons, all good at the time, possibly not the best fit now and I'm gradually over the next few years rationalising down and also moving to more income funds.

    I've done the biggie already, nothing less than 5% was kept and in the main it was reinvested into existing funds or used to buy just one extra fund, eg sell five buy one sort of thing. In your case you'd move from a somewhat crazy 31 to a maximum of 20. At present you might distracted because XYZ fund rises or falls 20 or 30%, but if its only got a 500 in it it doesnt matter.
    • Cliddy
    • By Cliddy 11th Aug 18, 11:04 AM
    • 185 Posts
    • 18 Thanks
    Cliddy
    I am taking my own advice, I'm in a similar position to you, i have a real mish mash of funds in one of my two SIPPs (the other is very global 100% equities invested in 4 funds), all there for a variety of reasons, all good at the time, possibly not the best fit now and I'm gradually over the next few years rationalising down and also moving to more income funds.

    I've done the biggie already, nothing less than 5% was kept and in the main it was reinvested into existing funds or used to buy just one extra fund, eg sell five buy one sort of thing. In your case you'd move from a somewhat crazy 31 to a maximum of 20. At present you might distracted because XYZ fund rises or falls 20 or 30%, but if its only got a 500 in it it doesnt matter.
    Originally posted by AnotherJoe

    Thanks for this. I'm going to start progressively thinning them out, certainly starting with the low value ones. Of which there's plenty. Might be easier to see the wood from the trees.
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