Index Tracker Funds in France?

[Chocfish]

Hello all

We are UK citizens, French residents.

We have a substantial sum invested in a Legal & General index tracker fund in the UK. They have recently informed us that they are selling their entire investment business to Fidelity. Because we are not UK residents, it appears that our investment cannot simply be transferred to Fidelity (as it is essentially opening a new account), we are looking for a new home for the money. We still have much the same goals that attracted us to index trackers: low ongoing fees and charges, easy investing, no brokers / IFAs fees, dead simple, decent return over the long term.

Do companies like L&G exist in France? We made enquiries about longer term savings here a while ago and were put off by the complexity of what was being offered, what looked like lots of fees and charges, having to deal with an IFA / broker. We've had a look at the Fidelity and Vanguard France site: they seem to be geared towards professionals, not personal investors.

What do the French do for long term, low cost savings?

The other catch is that the money we have been investing comes from UK rental properties, so we'd have to take the cost of transferring this to France each month as well...

[suein56]

It seems that tracker funds are 'fonds indiciel' .. 'trackers' also exist.

I invest online via Boursorama and trust them so perhaps have a look there or phone them, they were helpful when I needed advice.

https://www.boursorama.com/bourse/actualites/trackers-15-fonds-indiciels-cotes-pour-votre-portefeuille-942e9965245fe824f40ce78989fb28d3

https://www.boursorama.com/bourse/actualites/investissez-en-bourse-a-prix-casses-grace-a-ces-trackers-de-nouvelle-generation-2f66e8ea140b58799c49b41a7f332db5

https://www.boursorama.com/patrimoine/actualites/accessibles-en-assurance-vie-les-fonds-indiciels-connaissent-une-popularite-croissante-75a0feb1198651c4a9ab928dfdb50539

If you are both under 70 and have children then money invested via an Assurance Vie has added tax benefits as regards passing on your inheritance.

Edit: You will have to copy and paste as the links are not live.

Wise will transfer money very cheaply .. or open up Wise accounts in € and in £ and your problem is sorted even more cheaply.

[Chocfish]

Thanks Sue - just having the key terms to search with makes a difference. Maybe it's another one of these things that are handled by banks here - I can't think of companies in France that are the equivalent of the big financial service providers in the UK - L&G, Standard Life, Scottish Widows etc.

We already use Wise for transfers, but haven't set up accounts yet. Thanks for the tip.

[suein56]

Although Boursorama is a Banque it is an online Bank, which mean free accounts, cards etc and low charges for its stockmarket connected dealings. It is not a traditional Bricks and Mortar Bank.

From Wiki ..

Since its creation, the website Boursorama.com has been the French leader in online information about the stock market, aimed at both individual investors and professionals.

My words ..

It was only later it moved into online Banking to be able to offer a complete package.

[JohnFB]

Why not open an account with Interactive investor or A J Bell and just buy the ETF directly. The fees will be much lower. JFB

[Woodrup]

Not related to your post Chocfish, but concerning L&G.

I just tried to Log into my Annuity account with them. Hadn't done so in the year since it was set-up.

It wouldn't accept my details, I was going around in circles, tried New Password, Virtual Assistant, Chat, after about an hour I called them to be told foreign account holders can no longer access their accounts online ! 😮 He said " ...we're hoping to remedy the issue sometime this year or next year." What? Unbelievable.

It's no great problem, I can verify the payments entering my French bank account but just found the fact they've stopped this facility for those who live abroad, very strange.