Hello - I wonder if anyone could give me advice? I had left a large amount of my pension in a single asset fund of UK government bonds (instead of having it in a multi asset fund which would have been the wiser decision) thinking this would be a safe place to leave it (I’ve been managing my pension myself). Due to mini budget issues of last year, this fund has lost 40% at least of its value 😥(whereas another small multi asset fund I have only lost about 5% and then bounced back). I went to an IFA who suggested I consolidate all my pensions and transfer now (so that it starts to grow quicker, because he said that it will take a long time for the bond fund to bounce back) to his recommended fund, but I will lose most of any forecast gain in fees, so I don’t want to do that.
The other option I am considering is transferring the fund into my multi asset fund that is doing well, and transferring now (and therefore write off the huge 40% loss). Or should I wait a while first in the hope that the bonds will recover a bit before transferring?
Any advice much appreciated 🙏🏼
Thank you so much