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Mar 2020

What's a Fund Supermarket - and Why Should I Have One?

What's a Fund Supermarket - and Why Should I Have One?

Branching out into the world of fund supermarkets can be a fairly daunting task: there is a lot to consider for a first-time investor. Lucky for you, we’ve done the legwork for you and compiled the basis all into one blog for you to get to grips with fund supermarkets. 

What is a fund supermarket?

A fund supermarket is a platform which allows people to buy, sell and hold your investment funds.

The clue’s in the name – there are a variety of different kinds of open-ended funds available, much like the variety of brands you can find of any given product at a supermarket. Some may also offer investment trusts, shares or ETFs (exchange-traded funds).

Why should I have one?

The main advantages of the fund supermarket is that the costs are comparatively low and they are a very convenient way to invest; the name ‘supermarket’ gives the game away. There is a lot of choice, so there should be something to suit everyone and you should be able to choose at your convenience.

They’re mostly online (although some offer services by phone) and if you want to have a look at great rates on fund supermarket ISAs, have a look at our page to compare the best rates.

What should I look for?

If you’re new to fund supermarkets and wondering what you should be looking for, a good fund supermarket should offer:

What do I need to bear in mind?

If you want to invest your money into a fund supermarket, remember that they are providing you a service – and that service isn’t free, so there will be fees. These tend to be annual fees and dealing fees, which will vary depending on the platform. Annual fees are to have an account and dealing fees are charged when you buy/sell or change investments.

The cheapest isn’t always the best option, so make sure you get a whole-view before making a choice.

How much can I put in a fund supermarket ISA?

As a fund supermarket ISA the ISA rules apply: your ISA limit remains at £20,000 (for tax year 2020 - 2021 – which will remain the same for tax year 2021 - 2022).

So, theoretically you can put up to £20,000 tax-free into a fund supermarket ISA per person per tax year, assuming you’ve not opened any other ISAs in this tax period. If you have, just subtract the amount you have already put into an ISA from £20,000 – the result of that sum is the amount of money you have left of your allowance.

If you want to invest the whole of your ISA allowance, you are able to – but diversifying your investments is always a good idea, so examine your needs and consider whether spreading your money across multiple different ISA accounts (e.g. Cash ISAs or Lifetime ISAs) might suit you. 

Read more about Fund Supermarket ISAs. 

Investment Fund Supermarket ISAs

Stocks & Shares ISA

from Hargreaves Lansdown

ISA Option
Allows ISA Transfers
Regular Savings
  • Protection Scheme: FSCS
  • Fund Choice: Choose from over 2,500 funds, shares, investment trusts and more to build your portfolio. UK and overseas shares. Corporate and government bonds. Exchange Traded Funds (ETFs). Ready-made portfolios to suit your goals and attitude to risk from £1,000. Expert research to help make your decisions. Investment trusts and much more. Capital at risk.Tax & ISA rules apply
  • Invest From: £25 pm or from £100 lump sum

Why we like it: Choose your own funds or alternatively a ready made portfolio. Market-beating savings and discounts of up to 5.5%. No charge to buy and sell funds. Low, tiered annual charges for holding funds, with a maximum of just 0.45% per annum. Free fund updates and analysis from experienced research team. Invest with a financially secure, FTSE 100 company.

Important: The value of your investments can rise as well as fall. You may get back less than you invested. If you’re unsure, we recommend you ask for independent advice.

Stocks & Shares ISA

from Interactive Investor

ISA Option
Allows ISA Transfers
Regular Savings
  • Protection Scheme: FSCS
  • Fund Choice: Access 40,000+ UK, US and international shares on 17 global exchanges. Choose from over 3,000 funds or select a ready made portfolio. Investment trusts, ETFs, Bonds & Gilts. Option to invest in 6 low cost funds selected by experts to get you started. Capital at risk. Tax & ISA rules apply
  • Invest From: £25 a month or any lump sum

Why we like it: An award-winning ISA that gives you complete control. The second largest platform in the UK with the widest choice of investment options in the market including funds, investment trusts, ETF’s and more. Strong ethical investment proposition with more than 140 investment options. Open online in less than 10 minutes. Access to expert independent ideas and analysis. Low cost fees and trading.

Important: The value of your investments can rise as well as fall. You may get back less than you invested. If you’re unsure, we recommend you ask for independent advice.

Important Risk Information:

The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website aims to provide information to help you make your own informed decisions. It does not provide personal advice based on your circumstances. If you are unsure of how suitable an investment is for you, please seek personal advice.

High Income ISAs

High income ISA ideas:

ISAs Products

Cash ISAs

Fixed Rate & Instant Access ISAs:

Cash ISAs: 

Stocks & Shares ISAs

Types of Stocks and Shares ISA include: 

Stocks and Shares ISAs

Latest News

5 Considerations for Your Next Investment ISA

15th March 2021

You've decided to invest your savings into a Stocks and Shares ISA. You'll be using your tax-free ISA allowance for this year before the deadline, while also investing your money for your future. But what do you need to consider before opening an account? We've put together a list of our top five considerations for you to think about before you click "apply". 

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