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This is the difference between "saving" and "investing". I interpret "saving" to mean you stick your cash somewhere. "Investing" is buying something with that cash. Even if the company you bought the fund shares through goes tits up, you still own the shares. You just need to find someone else to sell them through.
If trading in the fund is frozen, then you're effed. See Woodford Investment Management back in 2019. But that's rare.
Drakien
sohi
NotThamesWater
How do you actually save long term if you are only protected up to £85000. If you would split it
up to different companies you wouldn't benefit from compound growth and you can't just find
a huge number of companies that offer the same investment types.
I was now looking into how money is protected with Vanguard but can't find anything on the FSCS website, only a similarly named company that went out of business in 2017. The entry on the
FCA site is very vague and only just confirmes that they are registered.
https://register.fca.org.uk/s/firm?id=001b000000NMI0mAAH