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; fool.co.uk 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 A||0.30% annual charge||Tracks FTSE All-Share; "dividend type: distributing"; "regular saving scheme: yes"|
|L&G UK Index||0.53% annual charge||Tracks FTSE All-Share; doesn't say anything about dividends|
|Fidelity Moneybuilder UK Index Fund||0.1% management charge||Tracks 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.