What to do with stocks & shares ISA

[tak1ngchances]

Hoping someone can give me advice as the info on the Internet is so conflicting/confusing.
I have a stocks & shares ISA for 2 years now which unfortunately has lost 5% of its value due to market fluctuations.

I would like to transfer it to a low-risk (really no-risk) scheme.

However, I understand that I cannot transfer a stocks & shares ISA to a cash ISA for tax reasons.

So my options are:

• Select a low-risk stocks & shares ISA (but all of them say "value can go up or down)
• Stay with current ISA in the hopes that the market stabilises or turns positive
• Close stocks & shares ISA and open a high-interest savings account

What would be your recommendation? I know I would have to pay tax on the last option, but I think the tax on interest would still be less than the 5% I have lost so far.

Thanks v v much in advance

I won't try giving any detailed advice, but the basic rule for investment in shares etc is to see it as a medium to long term thing - at least five years.

I agree with DiddyMary about shares being a five year plus thing to iron out the market fluctuations. The last couple of years haven't been great for the stock market and it would be a pity to cash up only to find things recovered....especially if you didn't actually need the money straight away.

FWIW my stocks and shares ISA fund is one that I contribute to monthly. That way, when the market is down and the units are cheap, I get lots for my money. And when the market is up and the units are expensive, I'm still winning on the cheap units I bought earlier in the cycle. Good luck