Aberdeen Asset Managers is going west with the American monthly income Isa.
The investment trust Isa is targeted at investors who are looking for either income or growth by investing in the USA.
The trust has been given an even investment structure over a wide area, so that 50 per cent provides income and 50 per cent provides growth.
The trust will invest in a broad range of investments. For the income part it will invest in funds such as the Aberdeen preferred income trust, and the BC Asset Management US growth & income fund. For growth it will invest in funds like the BFS absolute return fund. Both ordinary shares and zero dividend preference shares will be available.
Aberdeen believes that America is still a highly attractive area to invest in, despite fears about a possible slow down in the economy, which prompted a 0.5 per cent cut in interest rates at the start of 2001.
According to Standard & Poors the Aberdeen American opportunities fund is ranked 14 out of 78 funds, based on £1,000 invested on a bid to bid basis with gross income reinvested over three years to February 26, 2001.