The Lemon Fool

I have a Fidelity ISA Unit Trust portfolio (which I intend to keep) built up over many years up to 2012. Nearly all of this is in global funds. The size of this means that I am paying Fidelity their lowest charge range. This was originally destined to reinforce the pension from my employer as I had spent many years at home bringing up our family so did not have many years of contributions. When OH and I retired in 2003 (he from a different job with a different employer), our DB pensions were sufficient for our needs so this ISA was bookmarked for possible Long Term Care needs. (OH now has complex medical problems). If this is not needed for LTC then ultimately it will be inherited by our son and daughter.
Since then I have been building a share ISA "for fun" , from spare income (irregularly). This consists of about 20 companies, all in the FTSE 350. The broker is Jarvis x-o. They charge £50 per stock for transfers out.
I am aged 79, OH is 80. OH resolutely sticks to having a Cash ISA only ! I am starting to arrange Financial Lasting Power of Attorney so that our son and daughter (both aged mid 40s) can take over if/when we start to "lose the plot".
It seems to me that maybe the share portfolio should be migrated to an Investment Trust portfolio to make it easier for our son to maintain (he is totally trustworthy but not really investment minded.) A single Investment Trust would seem to be the easiest way. I am considering Murray Income IT (MUT) as many of the shares I hold are also held by this, It is managed by Aberdeen Standard .

Any comments, advice etc ??

Sue

PS Also posting a query on the Legal board re LPA Financial.

Murray Income is fine for what it says, income but it has not done a lot on the capital front in the last few years. That of course reflects the behaviour of the mostly UK income shares that it invests in. So it really depends what you are looking for. At about the same age as you, I have a decent spread of ITS and in your position I would I think probably go for a more internationalist trust. You may sacrifice some income but it would probably be more than made up by better growth. F & C, Alliance or even Law Debenture come to mind.

I hold Murray Income amongst others.

Dod

Thanks, Dod.
My UT/OEIC ISA with Fidelity has a good spread of international holdings and I am happy to keep that . I do check it over from time to time.
Regarding the share ISA, at my age I may not be around long enough for a growth aspect to increase much so income would seem to be a better idea.

I am 50 with a remaining parent who has mounting current needs and a requirement for longer term care which I am trying to put together with a sibling. As I am also trying to run my own life (currently failing, Covid and care is overwhelming my need to progress professionally) I would like to put forward the case for the very simple here. One IT paying a dividend into a buffer account that isn't invesing perfection but gets the job done has merit. The 's**t storm will come from elsewhere.

R.

Sue
I think the idea of replacing your 20 shares with an IT for simplifications sounds eminently sensible if your son is not particularly investment orientated.
I am not sure why you would need to transfer out of Jarvis at £20 a share. Could you not simply sell your shares in your Jarvis ISA and replace with ITs without leaving Jarvis?
Murray International received a favorable write-up from Hargreaves Lansdown recently. I am not sure how much your shares are worth but maybe having a couple of ITs might be sensible. Merchants is also focused on big UK companies and yields a bit more than Murray Income and has a slightly different mixture of holdings although there is some overlap. Perhaps 50% in each might be considered.