after one of the fastest falls on record in the FTSE 100 between December 8 and 15, the blue-chip stock market index has rallied as the festive season approaches.

But the index is still well down from its 2014 starting level of 6749 points, confounding many pundits.

A year ago, 58% of fund managers polled by the Association of Investment Companies thought the FTSE could break the 7000 barrier by the end of 2014. This time around, 95% of those surveyed by the AIC expect the index to close next year above 6500, and 48% are shooting for 7000-plus.

Their top tip for next year is funds focused on Europe (39%) followed by the United States (22%) and Asia Pacific excluding Japan (17%).

Laith Khalaf, senior analyst at Hargreaves Lansdown gives five investment tips for investors to take into the New Year and beyond.

1. Choose properly active or ­properly passive funds: Too many funds are closet trackers which charge fees for active management but provide an index-like return. Investors should replace such funds either with proper index trackers (at a fraction of the price), or a truly active fund run by a talented and proven fund manager.

2. Match your investments to your tax shelters: Put your investments into an Isa and perhaps a Sipp. Capital gains tax can be avoided if your profits are less than £11,000 a year, while basic rate taxpayers avoid 20% income tax on interest payments, and higher rate taxpayers escape 40% tax on ­interest and 22.5% tax on dividends.

3. Consider if you are taking enough risk: Many investors question whether they are taking too much risk, but few ask if they are taking enough risk. Take more risk if you feel you can stomach the ups and downs, or save more each month while maintaining a lower-risk portfolio.

4. Conduct an annual portfolio review: This way there are no nasty surprises waiting for you when you finally come to cash in your investments.

5. Consolidate investments: Being able to look through your portfolio online 24 hours a day, seven days a week, is a convenience which is now available to investors today. However, although managing all your investments on a DIY ­platform, or switching to one that apparently offers a better service, may seem a good idea, it is important to be aware of all the charges beforehand.

Carr Consulting & Communications assessed 14 of the best-known platforms and recommends that investors should be aware of three key areas.

Firstly, some platforms will charge you both transfer charges and account closure fees to leave their platform - Bestinvest charges £25 per holding to transfer out, plus a £50 closure fee, while Hargreaves Lansdown charges £25 per holding to transfer out, plus a £25 closure fee. Yet other platforms charge nothing. Also, some will cover exit fees if you are transferring across a minimum amount. These include The Share Centre (covers up to £300 exit charges for transfers of more than £1000) and Fidelity Personal Investing (up to £500 exit charges for any transfer). Bestinvest also covers up to £500 of exit fees from other platforms when transferring business to them.

Secondly, when transferring shares onto another platform with the aim of adding it to an Isa, be careful. If they are not already in an Isa you will need to sell the shares and repurchase them within an Isa. Whether you do this on your existing platform or your new one depends on dealing charges and closure fees.

For example, if you are with Fidelity and are switching to Club Finance, you are better transferring across to Clubfinance first, as Fidelity has no exit or transfer fees, but its dealing charges are higher (£9 against Clubfinance's £2.50 per deal). However, if you were transferring to Hargreaves Lansdown you would be better off repurchasing your shares in an Isa and transferring afterwards, as HL has a higher dealing charge (£11.95 against Fidelity's £9). Check transfer charges and account closure fees before investing with a platform.

Finally, Carr Consulting recommends dealing online, not over the phone. The difference can be £25 or more per trade, though TQ Invest and Strawberry Invest price their online and phone dealing charges at the same rate.

Matthew Morris, director at Carr Consulting, said: "Do the research first as the costs vary significantly between these fund supermarkets and the best known will not necessarily have the most competitive rates."

Adrian Lowcock, head of investing at AXA Wealt, who said earlier this month that the annual "Santa Rally" was "one of the most statistically visible trends in the stock market", was undaunted. He said: "It is important investors focus on long-term trends in the markets rather than short-term swings.

"Christmas can be a good time to sit down and review your portfolio and consider what your plans are for the year ahead, decide on how much money and where you plan to invest. Investors should continue to focus on good-quality managers who can add value throughout the year and not just at Christmas."