Chit Chat
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05 Jan 19
18:23
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Date Joined:
25 Dec 05
in a standard life fund that I suppose like many others has performed abysmally over the last 5,6 months and lost 10 grand in that time
in 9 years in a range from starting from 50 grand, to 140 grand of which ive paid in with tax relief 5 grand a year ,plus a 31 grand lump sum 4 years ago,
basically my contributions and tax relief add up to a 124 grand and the fund reached a high of 140 grand now at 128, so in 9 years its made an average of £450 a year, risked losing the lot for an upside I could have got out of guaranteed saving schemes,
no expert but seems a lamentable performance in a 9 year cycle where besides the last 6 months markets have been at record highs etc
in 9 years in a range from starting from 50 grand, to 140 grand of which ive paid in with tax relief 5 grand a year ,plus a 31 grand lump sum 4 years ago,
basically my contributions and tax relief add up to a 124 grand and the fund reached a high of 140 grand now at 128, so in 9 years its made an average of £450 a year, risked losing the lot for an upside I could have got out of guaranteed saving schemes,
no expert but seems a lamentable performance in a 9 year cycle where besides the last 6 months markets have been at record highs etc
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Replies: 163
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What's the question 1tp?
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question is would you take steps, advice to get out of it by moving it elsewhere or query its lack lustre performance
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Yes, for sure. I had £280k, moved it to Zurich with 5 years to go then safeguarded it with 2 years to go with Prudential. Final fund £420k when I drew it in late 2017. How old are you? (relevant)
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Kept mine all low risk. Not high returns but usually steady at around 4-5% - should be considered within 5 years to retirement
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60 in November but not working,might have to access it in next 2/3 years
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Then consider low risk funding; it appears by what you're saying that it's medium risk or higher. Over 9 years you should be looking at 50% growth, 30% approx. over 5 years... not great but steady and above inflation
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its not high risk bloke was confident of make 4% 9 years ago, its basically made jack shoite, started this year [april ] around 140 grand instead of making 5,6 grand its lost 12 grand
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Over the past 12 months I've only made around £4/5k on mine but had a £6k loss at the end of the year but still a growth on 12 months. The fund I'm currently in (Pru-Cautious) is average just over 5% over past 5 years AFTER the dip
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Most people will have lost money in the last months as the stocks have tanked a bit but they've been OK the last years so can't complain too much?
There isn't just one fund I'm sure at SL, they'll have various. Like say a low risk, medium risk, high risk, and as you get older they'll normally move eveerything low to high. I thought a few months ago markets were about to go south especially as Brexit was causing uncertainty for the UK ones, and was considering seeing if my pension funds could be move to low risk but, alas, I was bitten by the "I'll do it laters" and forgot about it... Anyway back to your case, Standard life won't just have "one fund" they'll have a number of funds, and in fact in my pension I think I can actually exercise far finger control if I really wanted to, though not micro manage it. IT depends on your pension. |
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Getting older I menat high to low risk. Automatically unless you tell thme not to.
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glad you corrected yourself there JC
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its basically built around ftse 100 staple companies hsbc,shell,bp,rio tinto, BAT,aviva,prudential,vodafone,close brothers, etc,etc
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No way you should be taking risks with 5 or less years to go 1tp. Hence why I moved my own from low-to-medium to low
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the fund is
SL SLI DYNAMIC DISTRIBUTION FUND,or not so dynamic  |
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lol, just looked it up... 1 star!!!
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forgot to add don't no how much difference it makes,its basically a sipp
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Are you going to draw an annuity or are you considering drawdown?
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well thar ye go 1 star,
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was thinking drawdown
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I'm on drawdown too
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Here:
http://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=F0GBR06DZV |
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This is my fund... as you'll see it did take a recent dip but also took a nice increase a while back too... very steady growth in the main
https://www.trustnet.com/factsheets/p/hsu4/pru-prufund-cautious-fund-pn |
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My intention is to split it, I'll do a drawdown and at some point when rates look right buy an annuity with some of it.
So if I do live somehow to 140, I've still got at least some income that I've not spent on booze and women :P |
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do you really want to live to 140 though???
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wifes retired [55] this year on a bt final salary scheme but if something happens to me she,ll need anything left in my pot to get her to 66 when her state pension kicks in,so annuity not rreally the way to go for me
could have been worse had 25 grand to invest last year and was going to put a lump sum in ,glad I didn't wish I hadn't transferred 31 grand from another scheme in to it 4 years ago |
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Depends ;) If I lose my marbles and sit in a nappy, no.
But as long as I can read and shuffle about in not too much pain, I'd be ok with it! |
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I'm no longer licensed to offer actual advice (now retired) but 9 years with zero growth I would consider getting a local IFA (charge approx. 1%) and get that fund moved
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If you've money to invest you should put it in an ISA perhaps then (unless investing it gets a tax rebate on entry) and decide precisely how it should be invested.
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thanks for the advice aspro
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JC has a point. If you've another £25k hanging around stick £20k (max) in a cash ISA (safe) until you know what you're doing with it
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The fund listed under that name on morningstar that I linked to above isn't stellar but it's certaily not zero growth.
I think most of my pension is in medium with another company and it was doing ok last time I looked. |
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I wouldn't do a cash isa probably I'd do a safe looking but decent bond? But that's me (I was looking at this myself a few months ago).
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re annuities, an annuity is pointless unless the expected life for your age is 10 years or less. There is a chance to beat the insurance company then and if you do, the income will still be reasonable. People taking annuities when they are expected to live 25 years are just giving up present income for a payoff that will only come when they are in their 90s and be lucky to remember how to get out of bed.
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"re annuities, an annuity is pointless unless the expected life for your age is 10 years or less."
You mean the exact opposite surely? Nothing you are saying make sense? An annuity is precisely a bet that you'll live longer than the actuaries think you will. Taking one when you are going to die soon is precisely the worst thing you could possible do!!!!!!!!! |
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that's the dilemma really I was using savings to live on with little bits of work in the hope the pot would increase more than any interest or certainty of savings, but seems to have backfired, not afraid to say that from endowment mortag,to gold plan saving schemes,isa,s,pensions ive tried the lot and have a nap hand of failures
endowment had to swap to repayment or risk shortfall savings scheme 16 years was promised returns of 16,20,24 grand got about 12 grand about 800 more than I put saved 250 a month for 25 yrs in BT share save got 30,000 shares have been 12 quid a share now I might need money 2,50 a share, you name it me and the wife have had a go,and failed miserably |
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Well fook me, that last minute Portsmouth goal just gave me 5/5 on all this evening's games! Happy days!
£5 to win £141, cashed out £117! |
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How's that for growth???
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back to you 1tp... get some advice and consider moving to a low-risk SIPP for a few more years. I doubt you'll make a lot but wouldn't be surprised if you made more in these next 3 years than you made in the previous 9
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