A selection of recent frequently asked questions can be seen below. If you have a question which is not covered please feel free to get in contact with us.
Is FundExpert regulated by the FCA?
Yes we are regulated by the recently re-named Financial Services Authority, now known as the Financial Conduct Authority. The reference to this on the website is here.
What would happen to my investments if FundExpert should fail / go into liquidation?
Your investments are registered with Fidelity FundsNetwork, so if something happened to FundExpert the investments will remain with Fidelity FundsNetwork.
Making a purchase
How to make a purchase
You can purchase funds on FundExpert and these will be held on the Fidelity FundsNetwork platform. You can hold funds in a general investment account, ISA or pension. You can also transfer funds in to Fidelity from an external account.
Currently, funds that you hold in your basket are not passed across to Fidelity due to changes that they made to their platform in 2018, so you will need to add these manually once on the Fidelity platform. The FundExpert window should remain open, so you have a record of the funds that you wish to purchase.
Whilst purchasing funds I was asked to register twice. Why is this?
Our preferred administration platform that sits behind FundExpert is Fidelity FundsNetwork, where we have negotiated the lowest initial and switch fees, currently at 0%.
If I planned to invest, say, £80,000 via your website, would I make the entire amount available to you in some way, or direct to the funds in question? I don't think I could transfer that amount electronically in one lump without making special arrangements with my bank.
We are not authorised to handle client money. For purchases you can use your debit card ( but not a credit card ). We often suggest you contact you bank to authorise payment prior to the transaction.
Can I purchase funds outside of an ISA?
Yes. The product type is selected whilst moving through the purchase journey, after proceeding to the checkout.
I am a UK citizen living overseas, can I invest via FundExpert
Under current regulation, the website and also our selected platform provider (Fidelity FundsNetwork) can only accept those who are UK residents, UK Tax payers, or they are crown employees serving overseas.
If I was to open an account with you by buying some unit trusts does that include a cash account where could I keep cash temporarily?
There is such an area available on the platform we use for transactions, that sits behind FundExpert. The platform is Fidelity FundsNetwork and the cash manager account is the area where cash can be held and used for the purpose you mentioned. You can deposit cash in the cash management account (CMA) for use at a later time, and also set up regular savings into the CMA. This can be done via your Fidelity log-in, which you will set up once you go through the checkout process on FundExpert.
I purchased two funds recently and had received paperwork for both. However, neither fund has yet appeared in My Portfolio on the FundExpert website.
Each purchase made through FundExpert is made via Fidelity FundsNetwork (FFN) as the platform provider, and is subject to a 14 day cancellation period. During this period, FFN limit FundExpert's ability to display funds that have been purchased. This is done to avoid any possible problems involving the cancellation period.
For example, if an individual purchases a fund and then decides to change the fund by switching but also returns the cancellation notice, FFN would be obligated to honour the cancellation notice. They would therefore have to undo the switch and purchase before honouring the cancellation, which would all be at cost to them. To ensure that transactions are not placed during the cancellation period they do not allow clients to access to the funds on our website.
Until the cancellation period expires your purchases can still be viewed through the FFN website but they restrict the access to view-only.
I have money to invest but can't use a computer very well. Can I speak to you on the phone please?
FundExpert is a non-advised, self directed website. We do not a provide telephone service as experience suggests that most telephone calls are from those seeking advice. FundExpert provides guidance only, not advice. If you are interested in an advised service there is more information available here.
Do you enforce the fund manager's minimum investment?
The platform behind FundExpert is Fidelity FundsNetwork, therefore their minimum investments apply. These are currently set at a monthly minimum of £50 ( but £25 per fund ) or the initial single premiums typically set at £1000 ( but £250 for existing client topups ).
Can I buy Investment Trusts on FundExpert?
We're working with Fidelity to start offering these investments through FundExpert. They can often be identified by "Ord" in the fund name, although this is not a hard and fast rule.
Please note that they trade differently to Unit Trusts and Open Ended Investment Collectives (UTs & OEICs). For more information on this see the charges section.
I cannot locate a fund that I wish to invest into.
We only show the rating of funds that are offered through the platform behind FundExpert, Fidelity FundsNetwork.
Which is best [a] buying an accumulation fund or [b] having dividends reinvested?
Whether you purchase Income (Inc) or Accumulation (Acc) units really depends on whether you will look to take income from the fund at some point in the near future. As there is no initial charge to purchase units on FundExpert, there will be no charge levied on the purchase of units using the income from the fund, which could be an issue elsewhere. The end values should be the same, but with Income units the amount of units held would often change.
You allow lump sum and monthly investments. Is it possible to invest a lump sum followed by further lump sums at irregular intervals (same fund). Will the chosen fund group up the payments (same name) or treat them as separate accounts with multiple sets of paperwork?
Yes the site does allow single contributions at irregular intervals. If you purchase the same fund the units will be grouped together, but you will get separate contract notes following each purchase. If the investments are made outside of an ISA then it is possible to split the investments. The use of the designation facility can be used for your own purposes, for example if you purchased the same fund on three separate occasions, using designations 1, 2 and then 3 it would create three separate accounts for you. For ISAs, the designation facility is not available.
Offshore fund purchases
The funds available on FundExpert are both onshore (GB ISIN funds) and offshore (non-GB ISIN funds). The ISIN number is visible on the fund factsheet page under Ratings & Basic Facts. If you opt to invest in or switch into an offshore fund your account will need to be registered with Fidelity Funds Network so that it can hold offshore funds. In order to do this you will need to complete an application form (downloadable from this link).
Please complete the following sections:
Only if there is a joint applicants. You will also need to complete a Joint Holder Supplement Form.
You must complete this section. Note that you MUST tick the confirmation of beneficial owner box to signal that you are the beneficial owner of the account.
Please complete the source of wealth section. If you are doing a switch do not fill in subsequent "fund details" section. Do complete if it is a lump sum investment.
Leave blank if a switch is requested. Complete for lump sum investments.
Please tick the future redemptions box and also put your bank account details below. The offshore application mandate is set up slightly differently to the original account mandate, so this information is required.
Will be completed by FundExpert. Please leave blank.
Please read this section
Please sign and date the form.
Once completed please return the form to the below address:
3 High Street,
Kent, BR7 5AB
Charges and Fund pricing
What are your charges?
For non advised, self directed clients who are happy to make their own decision using the research available on FundExpert, the ongoing charges for Unit Trust and OEIC investments via FundExpert are as follows:
an annual management charge payable to the Fund Manager. This will usually be in the region of 0.6% - 0.75%, the fund fact sheet will show these.
0.25% platform fee taken by FundsNetwork. Fidelity FundsNetwork administers all investments made via FundExpert
0.5% service fee payable to FundExpert
There are no initial charges for purchasing funds, nor switch charges. However, note that some funds are dual-priced and so carry a bid/offer spread.
Investment trusts (ITs, also called Closed Ended Investment Companies) are quoted shares, so trade differently to Unit Trusts (UTs) or Open Ended Investment Companies (OEICs). As such, the charging structure is different.
Investment trusts will charge an Annual Management Charge (AMC) as do Unit Trusts.
However, Investment Trusts are quoted shares, so an investment trust price will be quoted with a ‘bid offer spread’ – you’ll get a lower price if you’re selling compared to what you’ll pay if you’re buying shares.
There is a stockbroker’s commission on buying and selling of 0.1%
As Investment Trusts are quoted shares they are also subject to Stamp Duty Reserve Tax (for more on SDRT see here).
In some cases, there also may be a fund manager’s buy charge levied on the purchase.
More generic information on Investment Trusts can be found here.
Exchange Traded Products (ETFs, ETNs etc.) are also available. As with ITs above, there are other charges associated with trading these products. These include:
An Annual Management Charge (AMC) as with Unit Trusts and Investment Trusts.
A stockbroker’s commission on buying and selling of 0.1%
A ‘bid offer spread’ i.e. you’ll get a lower price if you’re selling compared to what you’ll pay if you’re buying shares.
On most UK share purchases Stamp Duty is charged at 0.5%. However stamp duty is not payable on overseas domiciled ETFs that trade in London. Stamp duty on UK-domiciled ETFs was abolished in April 2014.
I cannot find a fund's annual management charge
Ongoing charges can be found by clicking on the charges tab on a fund’s factsheet. A fund factsheet is accessed by clicking on a fund name. On top of the Annual Management Charge quote you will also be charged • 0.25% platform fee taken by FundsNetwork. Fidelity FundsNetwork administers all investments made via FundExpert 0.5% service fee payable to FundExpert
I can see the bid and offer prices but cannot see whether a fund has a bid/offer spread.
The bid/offer spread is the difference between the offer price (the price you pay to buy) and the bid price (the price at which you can sell). The offer price will be higher than the bid price. Some funds will have a wider spread which will tend to be a reflection of the costs an investment manager incurs for trading the underlying holdings of a fund. If the holdings are very illiquid (think of physical property or smaller companies) then the costs will be higher and hence the spread will tend to be wider. Please ensure you have read the Key Investor Information Documents (KIIDs) before investing.
Transferring your investments to FundExpert
Can I move my existing Cash ISAs to FundExpert?
Yes you can transfer them into Stock & Shares ISAs and invest in funds. However, under current legislation you cannot then transfer the investment back to a cash ISA. Please email firstname.lastname@example.org for the appropriate forms.
Can I move my existing Stocks and Shares ISAs to FundExpert?
Yes, more information and our transfer tool can be found here.
Can Existing Investment Funds, held outside of ISA be moved to FundExpert?
Yes, but only using the re-registration process. More information and our transfer tool can be found here.
I have existing investments with Fidelity FundsNetwork. How do I register these with FundExpert?
Full information and our transfer tool can be found here.
Help choosing funds
I wish to invest but am not completely confident in using the site. How do I get Financial Advice?
Please email us at email@example.com with your address details and we will send the appropriate forms for completion. We will also give you an idea of the charges for the advice.
Please send me details on the best funds for an ISA, for growth and for income
We can not enter into individual fund queries as FundExpert is an execution only website. However you can use the following links to find what you are looking for
Our Fund Ratings
How often are your fund ratings updated?
Our fund ratings are updated on the first working day of each month, and usually refresh by mid-day.
Why are income recommendations sometimes marked as a SELL on our rating system?
Our fund rating system is designed to highlight outstanding funds for growth (or strictly speaking total return, as any reinvested income is part of the “growth”). This rating immediately tells you whether a fund should be bought or sold based on the probability of superior returns going forward. The rating is based on our Dynamic Fund Selection, explained here in more detail.
Our Dynamic Fund Selection is a form of momentum investing, which means buying an investment (in this case a fund) performing well today in the likelihood that it will continue performing well tomorrow. This is shorthand – by “today” we actually mean performing well, outperforming its peers, over the last 6 months. In contrast, if you are investing for income, we judge whether a fund is good or bad over a much longer time period, where there is clear evidence of a commitment to providing a steady, and growing, income stream. The result is that a top class fund for generating income in the long term will not have much correlation with a growth fund selected for its shorter term potential. We will expand on different aspects of this in much greater detail over time, but hopefully for now this explains our two different approaches, where otherwise there might appear to be a contradiction.
How can I identify the best income funds?
We have done this for you. Use our Income Tool to find the most suitable income funds for your objectives.
What is Hidden Value?
Hidden value, along with all our other ratings, is explained on the Our Ratings Explained page.
Reviewing/switching/selling your funds
I purchased funds selected from your Dynamic momentum funds and two weeks later only one of them still features in that list and only two still have 5* rating. I thought you were saying these look like the most dynamic funds for the next 6 months?
The dynamic fund selection is based on reviewing your funds every six months as opposed to more regular intervals. When we conducted the investment research behind our ratings we tried a range of review periods. A six month review period stood out, from an investment return point of view as well as a logistical one. Don’t forget we are helping you to identify funds that outperform the average fund within a given sector. We are not promising that our Dynamic Fund Selection will identify funds that will definitely be the top performing funds over the next 6 months. But our research shows statistically that they have an increased likelihood of outperforming the sector average.
The key point is that it is the process of regularly reviewing and holding funds which is the key to our rating’s success. The six month cycle is based on what our research showed to be effective - which you can find here. To use the relay race analogy once again (if you’ve not heard it already you can read it here). Changing the baton every few metres rather than every lap won’t necessarily improve a team’s chance of winning a race. In fact it is likely to be to their detriment. By constantly changing funds you limit the scale of any upside momentum you enjoy.
The key finding of our research was that if you were disciplined and not distracted by emotion (which includes the fear of missing out on better returns as well as the fear of experiencing capital falls) you would have been rewarded. In time we may look to offer alternative review periods where users specifically want them.
How often should I review my investments?
This is down to personal choice, but our research suggests that every 6 months is the best timescale. Our Dynamic Fund Ratings are based on a 6 month review cycle.
Switch Funds Tool
Done your review and ready to make a switch?
Log in to your account as normal and use the Switch Funds Tool located in the "in this section" menu on the right of the page.
Please note, if you have set up a monthly savings plan for the fund you are switching from you will need to let us know if you want that changed too (click here to send us a note)
How do I sell my funds?
Inside of an ISA: you can switch your investments into cash, which will be held in the cash management account on Fidelity (this is called the Fidelity Product Cash Account" as it sits within the ISA tax wrapper). If you wish to liquidate your holdings and withdraw funds please do inform us and also contact Fidelity FundsNetwork directly, as this needs to be done in your secure portal directly with Fidelity FundsNetwork. We do not hold client money.
In an investment account: you can switch your investments into the Fidelity Product Cash Account. As with an ISA, to liquidate and withdraw funds please do inform us and also contact Fidelity FundsNetwork directly, as this needs to be done in your secure portal on Fidelity FundsNetwork.
What is the Fidelity Cash ISA Park?
This is the old facility for holding cash in an ISA. The Fidelity ISA Cash Park no longer exists - it was phased out in 2017. This has been superseded by the Fidelity Product Cash Account. This means you can hold your money in cash if you are concerned about the market's prospects and move into investments when you believe they have more potential. Search for Fidelity Product Cash Account in the fund search function on FundExpert.
I wish to sell some of my Invesco Perpetual High Income ISA. Can I do this and buy another equity income without losing the ISA status?
Yes, you can do this and retain the ISA status. However there are a number of factors that need to be resolved/answered before you go ahead with the process. If your investment is not with a fund supermarket like Fidelity FundsNetwork and is held directly with Invesco Perpetual, then the fund you wish to switch into, will not be offered. In this case, a form will need to be completed to get the ISA to a fund supermarket so that the new fund can be purchased. The ISA status will be retained. If it’s with a fund supermarket already then it should be a simple switch process. If you wish to move it to within FundExpert click here.
Does FundExpert accept Pension/SIPP transfers?
This facility is now available. Please contact us directly to start the process. Please note that you will need to provide identity and address verification documents to us. Normally, this would be processed by Fidelity but, as a result of changes they have made to their platform, they cannot currently process the address and identity verification documents.
It is a regulatory requirement that investors verify their identity to platforms (Fidelity FundsNetwork, in this case) on which they hold assets. If you have not already provided ID and address verification documents to Fidelity you will need to provide us with the following so that we can pass this on to Fidelity:
A certified copy of your current passport or photo driving licence and
A certified copy of a recent bank statement or utility bill (less than 3 months old). We are also able to accept a certified copy of your Council Tax statement.
Without these documents, Fidelity will not be able to proceed. Also, please note that we cannot accept a mobile phone bill as proof of address.
The individuals who can certify your identification are Accountants, Bank Officials, GPs and Solicitors.
Can cash from a SIPP be invested via FundExpert?
This depends on the SIPP Trustees and whether they have an existing tangible agreement with Fidelity FundsNetwork, the platform behind FundExpert. You should check this with the SIPP Trustees.
Can you explain to me the mechanics of how the income from an income producing fund will be paid to me?
Details of payment frequencies on the funds can be found on the funds fact sheets, along with the estimated yields. When purchasing funds look to buy “income or Inc ” units and supply your bank details so that payments can be released to you.
How often do income funds make income payments?
The frequency of income payments from funds is dependent on the fund chosen. Some pay yearly, some half yearly, some quarterly and some monthly. These details are often shown on the Fund Facts or Key Investor Information Documents for each fund.
Having selected funds to open an ISA I went through the checkout procedure only to find nothing happened. I didn't get a separate window to enable me to proceed with the purchase.
This is could be a problem that is related to your own personal internet browser, particularly if you use Internet Explorer. Further information on browser compatibility can be found here. You may wish to try an alternative browser, but please do let us know if you experience such problems so that we can rectify them.
I have successfully started the checkout process and am on Fidelity FundsNetwork's secure site but the screen goes blank after I have specified the amount I wish to invest and I can't proceed.
Please make sure that you have accepted cookies on our site before you proceed with the checkout process. You can do this by clicking the X in the box at the top of the screen on the FundExpert website (see here for a quick guide). If this doesn't work please contact us so we can look into this further.