View more on these topics

Credit Suisse gets adventurous

CREDIT SUISSE

Trans-Adventure Isa

Type: Oeic maxi Isa.

Aim: Growth by investing in global post venture capital fund and transatlantic fund.

Minimum investment: Lump sum £3,000.

Maximum investment: £7,000.

Catmarked: No.

Investment choice: Global post venture capital fund 50 per cent, transatlantic fund 50 per cent.

Charges: Initial 5.25 per cent, annual 1.5 per cent.

Special offer: Initial charge reduced to 3.25 per cent for lump sum investments.

Offer period: Until April 5, 2001.

Commission: Initial 3 per cent, renewal 0.5 per cent.

Tel: 020 7426 2626.

Suitability to market 5.5

Investment strategy 6.8

Past Performance 7.3

Company’s reputation 7.5

Charges 6.3

Commission 6.3

Product literature 7.0

David Cowell, Investment Manager, Andrews Gwynne & Associates, Michael Gilbey, Managing Director, Atlantean Financial Management, Steven Crowe, Managing Director, Bowland Financial Management, Nigel Chapman, Fund Manager, James Brearley & Sons.

Credit Suisse has introduced the trans-adventure individual savings account (Isa), an open-ended maxi Isa that invests in the Credit Suisse global post venture capital fund and the Credit Suisse transatlantic fund.

The panel has mixed feelings about how well the product fits into the market. Chapman is alone when he says: "For clients wishing to diversify their Isa investment, this product should fit well into the market."

However Gilbey says: "This Isa is either a brave bold endorsement of the American market and the global post venture capital market or it is a dead duck for this Isa season. Beyond the marketing hype it is hard to see what is so special about this Isa. I can only see a product that pairs one of my favourite North American funds with a relative newcomer."

Crowe does not think that the Isa fits particularly well into the market, while Cowell says: "The introduction of this Isa is unfortunate given the current state of the market. I cannot see many people buying it direct and it is unlikely that advisory brokers will pick overseas equity funds at the moment."

Looking at the type of client that the product is suitable for, Gilbey says: "This ISA is most suitable for a client with a moderately high or adventurous risk profile and particularly one looking to diversify a portfolio with a minimum of effort and change. With the development of fund supermarkets this product, in its standard form, is probably for the lazy client and those who prefer ad hoc purchases to portfolio management."

Crowe says: "This is for moderately high-risk orientated investors who are already utilising their capital gains tax allowance elsewhere."

Cowell says: "The product is suitable for someone wishing to add to their US exposure in a tax shelter whilst taking higher investment risks." Chapman adds: "I think that this is for an experienced client who has funded Peps and Isas over the years and who wishes to spread their investment. It would probably be a high net worth client."

Turning to the type of marketing opportunities that the product provides, the panel is negative. Crowe and Chapman feel that none are immediately apparent. Cowell says: "As an Isa, there are little opportunities, although the two funds are both worth consideration on their own merits."

Recommended

Axa Sun Life boosts drawdown options with addition of Sipp

Axa Sun Life is adding a self-invested personal pension option to its Retirement Solutions range of income drawdown and transfer plans.The new product will be aimed predominantly at the income drawdown and transfer market but can also accept single-contribution business.Axa says although it has previously offered external fund links within Retirement Solutions, its new Sipp […]

Regulation training from the British Bankers Association

The British Bankers Association has launched a training package to help staff in the financial services industry prepare for the regulatory changes that will come later in the year when the FSA receives it authority.Working with ten leading high street banks, the BBA has developed an interactive compact disk which gives an overview of the […]

iShares – iBloomberg European Pharmaceuticals

Friday, 30th March 2001.Type: Exchange traded fund.Aim: Growth linked to the Bloomberg European investable pharmaceuticals index.Minimum investment: Subject to negotiation with stockbroker.Maximum investment: None.Investment split: 100 per cent linked to the Bloomberg European investable pharmaceuticals index.Place of registration: Ireland.Isa link: Yes.Pep transfers: Yes.Charges: Annual 0.5 per cent.Commission: None.Tel: 0845 3577000. 

Stockmarket fears &#39not affecting Isa sales&#39

Only 18 per cent of people invested in an Isa this year, according to a survey carried out for Royal & Sun Alliance Investments by Mori.But only 3 per cent said fears about the stockmarket were the main reason why they did not buy an Isa, with 46 per cent not buying because they did […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment