I will be back..From time to time....In the meantime www.fabdirect.com...
I will be back..From time to time....In the meantime www.fabdirect.com...
Member since:19.03.2006
Reviews:44
Members who trust:108
If you have read the weekend business sections of the papers you maybe forgiven for thinking every fund manager is after your hard earned cash. Your right, although ISA investment inflows have increased this year with the boyant markets, they are still well down on previous years, and with 4 (well nearly 3) days to go until the 2005/06 tax year end , they want your money. There is a vast and somewhat confusing array of funds available, each perporting to be the best investment choice. But take a closer look when choosing the fund for you. One very important thing to check is how much are they charging for investing your money? If you are not careful you could end up paying anything up 7 or 8% what with initial charges, management fees, bid/offer spread. So your fund would have to make 10% to make any investment worthwhile.
So where to look? Well Fidelity Moneybuilder Index Fund fits the bill for me. It is available from Fidelity's Funds Network which is a supermarket of investment funds with over 950 different funds from 55 fund managers.
Fidelity Moneybuilder UK index ------------------------------------------ Aims to track the FTSE all share index which means it invests in the Large FTSE 100 companies down to smaller companies in the main market, but not AIM market stocks.
Performance
On the fidelity website you have a very useful feature that gives you an overview of each fund. Over five years the fund has returned 4.9% now remember that the market fell 28% from 2001-2002 over three years the fund returned 23.6% and over a year 27%
Charges
Now this is where Fidelity score over the competition. There is no initial charge on ISA and ISA/PEP transfers or non ISA holdings. The annual management charge is 0.10% with a total expense ratio of 0.30% compare that to the Virgin UK Index with has a charge of 1% There are no exit fees to pay.
How to Invest
You can apply online:- fidelity.co.uk/track or by phone :- 0800 22 25 20 9am-8pm 7 days
Online the site navigates very easily , you check this fund against others comparing costs and performance and you can download application forms.
Note you will need your N.I. number for ISA investment, and you will have to send in documents as proof of I.D.
You can invest by lump sum £1000 initial and £250 top up (max £7000 ISA per tax year) They also have a monthly investment plan £20 (£487.78 ISA)
At this point I should mention this is not advice to buy this particular fund and any stockmarket investment should be viewed as longer term 5-10 years.
I have held funds with Fidelity and other Managers through Fundsnetwork for some years and have found them easy to deal with , infact all my dealings have been online. They have a clear and transparent set of charges. You get a printed statement posted once a year, and once registered you can track your investment online, buy,sell or transfer your holding at any time (subject to switching fee from 1%) Don't forget you have 3 days to get your 2005/06 ISA don't get sucked into funds with blue sky performance with sky high charges.
How helpful would this review be to a person making a buying decision? Rating guidelines
I'm not too bad with stuff like this....not great though either......lol, Really need to get my finances sorted out xxx
lauricha 18.06.2006 17:23
I dont really understand anything about stocks and shares, FTSE or DOW Jones or anythin, but this would be really helpful to someone that would be interested in that kinda stuff! Great review xx
Suzi75 02.05.2006 00:28
Sorry for the low rating, but if you can imagine a reader with no knowledge of fund managers etc. They need to know all the ins and outs, comparisons between companies, company background etc. xx
Advantages: Cheap products, easy to invest in, good dividend yield, unlike shares in a company will never go bust Disadvantages: Index concentrated in 10 companies meaning more risk, not for ethical investors, sensitive to oil prices
gorvifal3 22.10.2005 ·
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