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Friendly Isa looks for recovery

Homeowners Investment Fund Managers is adding an equity Isa to its savings and investment portfolio.

Minimum investment is £30 a month or £500 lump sum. There is no initial charge and annual 1 per cent. The Isa invests in the Homeowners Investment growth fund which is a FTSE 100 tracker.

Chief executive Andrew Haigh says: “It is easy to understand why low interest rates and volatile stockmarket performance discourages people from putting money away. It is worth remembering that, in the past, stockmarkets tended to recover in the longer term. We all need savings to fall back on when times and situations change. It could make sense to invest now to be ready for those future demands even if they seem a long way off.”

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