ISA - brexit

[fluckityfluckfluck]

Hi all

I have all my saving (approx £15K) in a stocks ans shares ISA. Am wondering if I should withdraw pre Oct? Really can't risk losing it as it's all I have

The market is likely to take a big hit but will probably recover over time. I've held a stocks and shares ISA since 2002 so it's had its up and downs, but overall it's made money.

So it depends on whether you will need the money in the next few years, or if you want the peace of mind of knowing that it's safe. In either case, I would transfer it out to a savings account so that it's protected.

It depends what you're currently invested in, and what you plan to do with it once you've withdrawn it.

If you withdraw it all and the pound tanks, then your cash will depreciate - not in numbers (you will still have 15k), but in what you are able to buy when you come to re-invest it.
If you've already bought into funds/shares that are less likely to be affected by Brexit, then it could be a good place to shelter your money. As there are all sorts of things going on globally all the time which affect share prices and currency, it's best to diversify your investments.

It's in a managed pot with Nutmeg

Don't need it in next 5 years but really can't lose it

I have some bonds which my mother took out. Should I cash those in as well?

Do you know which specific funds your money is invested in with nutmeg?

If it's UK equities then there's probably quite a good case to be made for taking it out of those funds and investing it somewhere else. If it's in a fund which is geographically diversified, and across sectors, then you need to make a judgement about whether you think that will be stable over the 5 years you're happy to sit it out.

Once it's back to being in pounds in your bank account, and if the value of the pound drops significantly, you will find that when you want to reinvest it, you will not be able to buy as much with it.

No one can tell you what you should/shouldn't do. You need to look at the breakdown of your fund holdings and evaluate their vulnerability to what's about to happen.

I'm not cashing anything in, but that's a judgement based on the information I have about the funds I have chosen to invest in.

I guess I need to look into the fund more. Thanks for the info and for replying

It's 25% Uk 47% US and the rest fairly well spread

Bump

SMEs are more likely to do badly than large multinationals in the UK, so it depends on which UK equities. If it's FTSE100, I would hold.

As Adrienne said, if the 25% UK portion is in large companies you should be okay. The other 75% will only be indirectly affected by brexit.

If you really want to be safe, move some or all of it into a managed pot that is primarily non-UK bonds, but you may miss some upside if stocks do well.

Thanks all