Hi there, I have very little knowledge of trading shares and am the kind of person to leave it to the professionals, in the hope that they have my best interests at heart! So I am thinking of investing my money into shares. I have around 500-700k. I was going to buy an apartment (part investment property/part personal dwelling) but feel that the property market (for the area I want) is somewhat overheated and is due for a correction in the next few years (due to the number of new apartments being built).
I have always thought about investing, but have watched the share market go up and up over the last few years. Now however, watching it slide back down, I now have renewed interest in investing. I understand it could still slide further, but at least now might be a slightly better time to invest.
The problem I have is that I have no knowledge of share trading. So how should I consider parting with my money. I bank with comm bank, so the obvious choice was to just go to tHem and dump my money into a managed fund. Wave goodbye and go back and see them in a few years time (obviously meeting maybe a year to discuss the shares performance etc). I am a bit nervous about choosing an individual/private stockbroker as I am afraid I would choose the wrong person for the job etc.
So for a complete novice such as myself, who doesn't really want to get too involved and is happy to let the professionals do their job, should I sit back at and go for the managed find option, or is there another avenue I should look at pursuing?
Any feedback would be great. My term deposit matures this week so I am ready to make a decision with what to do with my funds.