Big issues with portfolio management

General
1

I predicted that a recession could come and the markets would fall lower. I decided to move all my investments to cash temporarily. The right moment came on the 13th of December. With lower-than-expected inflation in the US reported, there was a short upward spike, and my securities were worth nearly £250 more than when I deposited them two weeks earlier.

The only way to move holdings to cash with a managed portfolio is to transfer money to a DIY portfolio (as far as I know).
I think there should be an option to sell securities from a managed portfolio and keep cash within the ISA container :person_shrugging:.

Because I placed my transfer order around 4 pm, it was due to be executed the next day at approximately 3:15 pm.

The next day (the 14th of December) value of my securities dropped by £100. This made me nervous, but I thought everything would be executed on this day, and I wouldn’t get any more losses.

The next day brought another loss of around £100.

Everything settled on the 16th, and I had all my holdings as cash. I managed to save £50 of my gains. Not great, but I was happy.
I was expecting this cash to end up in my DIY portfolio.

I had a big surprise when I noticed that all the cash was re-invested into the managed portfolio the next day, and there was no transfer to my DIY portfolio.
No communication from InvestEngine at all. It keeps losing value as I write this!!!

I asked customer service if my losses would be covered, and if I should order a sale/transfer again. I just got a generic reply that they are looking into it.

The other problem was selling holdings in my DIY portfolio. I still have unsettled transactions from 19 days ago. That means I can’t sell it, and the money is locked there. It’s losing value, and I can do nothing about it.

I understand that invest engine is not a trading app, but I would expect to be able to manage my investments more easily.

1 Like
2

Why are you trying to buy and sell like this if you have a managed portfolio. The clue is in the name. In any case trying to time the market is a mugs game.

3

Could you clarify what you mean by “buy and sell like this”? I was trying to sell, as I explained above.
I agree with “time in market instead of timing the market”, but in the current uncertain situation, I’ve decided that my money would be safer in cash. At least short-term. I understand that you might disagree with my point of view.

1 Like
4

Unless you want a ‘set it and forget it’ approach a managed portfolio may not be for you. If you try to time the market you will likely miss the next big growth day.

5

Hi @Goszu
I understand there may have been a specific issues regarding your managed withdrawal and the cash being incorrectly reinvesting. I believe our Ops team are aware of the issues and they will be in contact.

With regards to your other points. We will be introducing Cash at account level (cash pots for ISAs & GIAs) in the new couple of weeks for all clients to resolve that very cash management issue you’ve flagged (its currently live for ~10% of clients who had income portfolio). We’ll announce it on the community.

On the settlement side for your DIY portfolio, if you could DM me you portfolio reference I will look into funds the specific funds.

2 Likes
6

Thanks for your reply Tom.