The end of this financial year is fast approaching and there is now less than 3 weeks for you to secure your 2007/08 ISA allowance. If you have been holding back from investing due to recent stockmarket turbulence, then there are still options available to ensure you do not lose your ISA allowance as once lost it’s gone forever. As always, we recommend using the Cofunds and FundsNetwork supermarket platforms as our preferred route to market.
Cofunds, allow you to temporarily hold your money in a cash reserve with a view to moving into selected funds at a later date. The Cash Reserve acts like a deposit account, paying investors a return of 2% below Bank of Scotland base rate*, and can be utilised for up to 6 months at a time. We consider it an extremely useful temporary safe haven for investors concerned about the short term outlook for the markets. To invest now follow the link below and choose option 2:
https://ww2.bestinvest.co.uk/isa/fundsindex.aspx
FundsNetwork have now launched a similar product, purely for ISA investments, called the “ISA Cash Park”. As above, the Cash Park allows investors to take shelter from the equity markets volatility, whilst still utilising their ISA allowance for this year. As with the Cash Reserve it acts as a deposit account and attracts a far better rate, tracking 0.4% below Bank of England base rate* Investors should follow the link below to make use of this facility:
http://www.bestinvest.com/fundsnetwork/fundsnetwork.htm
As with any investment we would stress the need to read the relevant Key Features Document before investing, to be sure you are happy with the terms and conditions applying to both. If you have any further questions feel free to call the Advice Team on 0845 053 3176.
*Subject to 20% HMRC Charge