fivemack: (Default)
Suppose, lunatic that I am, that I wish to leave the comfortable safety of FCSC-insured cash ISAs and head, rather than to the flaming whirlpool that is the UK equity market, to the choppy waters of index-linked UK gilts, where my money is at least wrapped in Her Majesty's third-best ermine mantle against the unknown possibilities of inflation.

A neophyte attempts to figure out what information sources are telling him )
fivemack: (Default)
The aim is, in the further reckless pursuit of responsible frugality, to put £100 monthly into an index-tracking ISA. I presume that I can do this despite having put £3000 into a mini cash ISA this tax year.

So I google for 'index-tracking ISAs', and get the impression that these are less well-catalogued by independent sources than cash ISAs; has a list of index-tracking ISAs consisting entirely of sponsored links. Google is a little better, and I come up with a few fund-management companies and grovel around further.

M&G Index Tracker A0.30% annual chargeTracks FTSE All-Share; "dividend type: distributing"; "regular saving scheme: yes"
L&G UK Index0.53% annual chargeTracks FTSE All-Share; doesn't say anything about dividends
Fidelity Moneybuilder UK Index Fund0.1% management chargeTracks FTSE All-Share; doesn't say anything about dividends; minimum investment "500, top-up 250"

This would seem to be an easy decision, so I must be missing something. I can't work out what 'dividend type: distributing' means: obviously I want dividends to be reinvested.

On a third hand, given how the pricing of computers and cameras has historically behaved just after I finally decide to buy them, and how the pricing of equities has historically behaved just after I lose confidence and sell everything, maybe I should stay in cash until the unprecedentedly well-correlated set of handbaskets that seem to be making up the international markets proceed up the roller-coaster

to that place where all handbaskets are proverbially destined.

July 2017

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