I’m really pleased with the returns... I’ll keep going
AFTER Teleri Evans received yet another savings statement in the post showing a miserly £12 annual interest on her cash Isa savings, she decided enough was enough.
With a goal to save for her first property with partner Alex, in 2016 Teleri, 27, transferred the cash from her Help to Buy Isa into a stocks and shares Lifetime Isa with broker Hargreaves Lansdown.
Lifetime Isas pay an annual government bonus of up to £1,000 and have a yearly savings limit of £4,000. Teleri also opened a separate stocks and shares Isa.
She has a direct debit set up to pay £300 into her stocks and shares Isa and pays ad hoc amounts into her savings account until it reaches the £4,000 annual maximum.
At the start of the tax year on April 6 she then transfers the sum into her Lifetime Isa.
Quantity surveyor Teleri, from Bristol, says she does not have a lot of investment knowledge but knows that she needs to have a diversified portfolio and to invest in more than one fund.
She says: ‘To make my fund choices I read the articles Hargreaves sends me and look at its shortlist of the best funds.
‘I chose between five and ten funds that are spread all over the world because I didn’t want all my eggs in
one basket. I have stuck with the same ones from the beginning.’
Teleri splits her savings equally between each fund. Although some of her funds haven’t performed as well as others, she has resisted the temptation to take any money out.
Her investment in Fundsmith Equity fund is up 46pc since January 2018, and her stake in Hargreaves Lansdown Select Global Growth Shares is up 27pc since May last year.
Teleri says she has definitely caught the investment bug. ‘Once I’ve bought my house I plan to keep saving monthly into my stocks and shares Isa.
‘I’m really pleased with the returns so I’ll definitely keep it up.’