Bank your cash in the best fund possible |
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Published
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Fri, 11 Mar 2005 01:00
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Investment of ISA cash in the right fund company can definitely give you rewarding dividends, provided you have paused and made an appropriate choice.
Maximum share of the ISAs seem to be put into the equity income funds as they promise higher returns at a time of lower interest rates. Invesco Perpetual's High Income and Income funds run by star manager Neil Woodford is the top performer in this sector with it converting an investment of £1,000 into £1,929 over a period of five years.
| This is according to the compilation of the most steady performers in equity income funds out of more than 60 available over a five-year period, done by the Daily Mail's Money Mail section, with the assistance of Independent Financial Adviser (IFA) Hargreaves Lansdown.
Conversely, Halifax UK Equity Income reports to have about £1bn of investors’ money trapped into it. It has been relatively unproductive in its performance with £1,000 being valued at a meager £1,186 over five years. Scottish Widows, Prudential and Foreign & Colonial and Henderson Global Care Income are other such companies charged with adding inferior values to customers’ equity income funds. With Nigel Greenwood, product marketing manager at Halifax Financial Services saying that they target only large companies for stability, it becomes clear that Halifax has been overlooking highly productive small and medium companies that have emerged in the past couple of years.
However, good fund operators like Neil Woodford at Invesco receive a pat on the back by Ben Yearsley at Hargreaves for their prolific services to investors’.
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