I have not renewed my ISA with IE for this year. However, I have left my account to continue to be managed by IE. I note with dismay that the account has not been altered since early April, after the tax year commenced. This was to alter the weighting to more equity ETF’s and less bonds. The modest dividends I received I chose to reinvest. These appear to have disappeared or may have been added to the odd cash pile associated with the account. In short, I am concerned as to this inactivity and consider my money is being poorly managed. I do not want to move my old IE ISA to my current provider, which is proving to be very lucrative, but I may have to. Any thoughts anyone?
I have passed your query onto our Fund Manager and we will get you a response soon. In the meantime, it would help if you emailed our firstname.lastname@example.org so we can look into your individual account to get you the best reply possible.
Hope you enjoy your weekend
Thank you for your thoughts. Our managed range is rebalanced at least once a quarter with more rebalances happening subject to a position breaching the upper and lower allocation limits.
In the case of the quarterly rebalance, the investment committee may choose to adjust allocations and may add and remove ETFs.
Given the nature of the ‘Income’ range and the yield maximising objective for a given level of risk, you are likely to see fewer changes with these portfolios as ETF yields do not vary greatly from quarter to quarter.
It is also important to note that the investment objectives between a proposition targeting yield and a ‘growth’ range targeting capital appreciation will have very different compositions at the ETF, asset class and regional allocation.
Furthermore, we constantly screen for new ETFs that could better fulfil the yield objectives but full fund switches are infrequent.
Using the latest quarterly rebalance as an example, we have introduced the Lyxor Smart Overnight Cash ETF (CSH2) as the Bank of England continues to increase interest rates. We have also liquidated the Investo AT1 Capital Bond ETF (AT1S) across the proposition post the Credit Suisse bond writedown.
In the case of Income Enhanced, we have added a further 3 ETFs to that particular portfolio whilst adjusting other positions to maximise the possible yield for the given level of risk in the current climate.
Let me also take this opportunity to mention that at InvestEngine our investment philosophy is centered towards making investments for the long-term, therefore we won’t be making intra month changes.
Very happy to discuss this further if you see fit.
Sadly I have now taken the decision to transfer my ISA allowance to a competitor platform. My decision has been taken as my Managed Account has been neglected and has earned next to nothing in the time I’ve been with this platform. It seems their strategies are skewed to the long term investor. At 62 years of age this makes little sense and I need more ‘bang’ for my buck.
To the point, my new platform have informed me that this platform apparently cannot locate my account despite me providing ALL the enabling data via a transfer form. I do hope this is not a ploy. I’m hopeful it is not. Anyone else experiencing this?