View more on these topics

Big adventure for Credit Suisse

Investors have just over two months to use their individual savings account (Isa) allowance for the 2000/2001 tax year and this has prompted Credit Suisse Asset Management to introduce its trans-adventure Isa.

Investments into the Isa are divided equally between two Credit Suisse Asset Management funds – CSAM global post venture capital fund and CSAM transatlantic fund.

The transatlantic fund invests in US stocks and shares which the company sees as a good prospect since interest rates were recently cut in an attempt to stabilise the US economy. The post-venture capital fund invests in post-venture capital stocks around the world. These stocks tend to be developing companies in sectors such as technology, healthcare, financial services and telecommunications. These can be bought cheaply when undervalued and then sold at a higher price.

However, investors must be prepared to take medium to high risks. The US may be risky at the moment, especially if there is a recession, and post-venture capital stocks – particularly in technology – can be volatile.

According to Standard and Poor&#39s, the CSAM transatlantic fund is ranked 7 out of 79 funds based on £1,000 invested on a bid to bid basis with net income reinvested over three years to January 29, 2001.

Recommended

IFAs&#39 share of fund sales soars to 61%

IFAs took the lion&#39s share of unit trust sales last year with a leap from 48 per cent to 61 per cent of the market. Autif figures show IFA sales rose by £8.7bn to £22.5bn from £13.8bn in 1999. Tied agents and salesforces saw their market share slump from 27 per cent to 20 per […]

LeggMason Investors launches new VCT

LeggMason Investors is launching a new venture capital trust which will invest predominantly in Alternative Investment Market listed shares. The LeggMason Investors AIM Trust aims at raising £30m in the offer periods, which will straddle both the 2000/01 and 2001/02 tax years. T The VCT will be available from February 26. The minimum investment per […]

Lending reaches record level as rates edge down

Mortgage lending suffered a seasonal decline around Christmas, according to figures from the Council of Mortgage Lenders and Department of Environment Transport & Regions. Gross mortgage lending by banks and building societies fell to £10bn in December from £10.9bn in November, with remortgaging down to £3bn from £3.2bn in the same period. However, overall lending […]

Exam review by end of year

The FSA has calmed IFA fears that its review of approved examinations has been put on a back burner by stating that no deadline was set for the consultation. When plans for the review were originally unveiled by FSA chairman Howard Davies in November last year, Davies said the review of financial sector exams would […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment