Many brokers or investment houses will only stock one type of investment fund. Fund supermarkets, as the name implies, stock a wide range of funds. And while they don’t offer everything (really, what supermarket does?!), they are a reliable place to go if you want to put funds from different providers into the same ISA.
In addition to the ‘everything in one place’ benefit, fund supermarkets can also offer better value than you would get by going through a financial advisor or approaching the fund manager direct. If you shop around carefully, you may find you can get a discount of up to two-thirds off any initial charges.
What you’ll find at a fund supermarket
As with specialist ingredients, so too with specialist investments: if you have a specific fund in mind, or one in a specialist area, you may spend a lot of time searching before you find it in any fund supermarket. But if you are after a more popular investment vehicle, chances are you will find it in abundance -- and priced to sell -- at a fund supermarket.
Most fund supermarkets stock somewhere between 400 and 500 funds. Many also offer free services and tools to help you assess what kind of fund you are looking for. If you have questions about the products available, look for a fund supermarket that offers a telephone helpline -- many do.
For the shopper who wants a varied range of funds
If you want to put funds from several providers into the same ISA, a fund supermarket is the place to go, as they enable you to choose a variety of funds from different providers, and don’t charge you for the privilege.
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