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Fundsdirect tees off for seven in one

Fund supermarket fundsdirect has packaged a range of funds for its seven of the best individual savings account (Isa).

The product is a stocks and shares maxi Isa aimed at investors who are looking to use up their Isa allowance of £7,000 by investing in a series of funds that cover a wide range of investment areas.

7 of the best will provide access initially to the Credit Suisse global post venture capital, Deutsche American growth, Framlington Health, HSBC European growth, Newton income, Old Mutual UK select smaller companies and SocGen technology.

If the client wishes to replace one of the funds within the Isa, they can choose from one of the 1,300 funds from 90 different providers that are available from fundsdirect. Any changes to 7 of the best can be done online.

Picking and choosing investments from over such a wide geographical area can spread the amount of risk, especially as the Isa will also be investing in a wide variety of sectors.

According to Standard & Poor’s, based on £1,000 invested on a bid-to-bid basis over one year, Newton income is in the first quartile, Framlington health is in the second quartile, HSBC European growth is in the third quartile and the Deutsche American growthand SocGen technology are fourth quartile. The Credit Suisse global post venture capital and Old Mutual UK select smaller companies funds have not been running for a year.

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