View more on these topics

FundsNetwork launches Isa ‘Cash Park’ for cautious investors

Fidelity FundsNetwork is offering an Isa for nervous investors reluctant to immediately commit funds to equities or bonds but who still want to make full use of their £7,000 tax allowance.

The Isa Cash Park will be made available in mid March and will pay interest monthly at a gross annual rate of 4.85 per cent (AER 4.96 per cent).

Investors will have to intend to place their money into equity or bond funds on the FundsNetwork platform but can temporarily place their full Maxi allowance of £7,000 in a cash deposit – making use of the Isa tax allowance.

Fidelity FundsNetwork head David Dalton-Brown says: “Isa investors who are nervous about the stock market after January’s turbulence no longer have to defer their investment decision within their Isa and lose this year’s tax breaks. Instead, they will be able to temporarily place their money in cash before the 5 April deadline and then invest into funds at a later date.

“When investors decide the time is right to invest, they can then switch their money from the Isa Cash Park, including interest earned, to any of the 1,100 plus funds from the 60 investment groups on the FundsNetwork platform.”

FundsNetwork says the investment will be held by the Royal Bank of Scotland.

It says the minimum contribution will be £1,000. Interest is to be paid monthly.


FSCS is playing by its own rules

In response to Loretta Minghella’s letter about the Financial Services Compensation Scheme, headlined, Inaccuracies over FSCS powers, it seems to me that one of the biggest problems for the industry is the “rules” by which organisations such as this operate. For example, Minghella denies that the FSCS hounds retired IFAs over old business based on […]

Bradford & Bingley’s shares fall as pre-tax profit halves in 2007

Bradford & Bingley’s shares have fallen by over 10 per cent this morning as it reported a sharp fall in profits after cutting the value of risky assets.The lender’s underlying pre-tax profit has almost halved to £126m in 2007 from £246.7m in 2006.B&B claims that if it stripped out “unusual and extreme external events” then […]

Bright Grey claims regulation is stifling LTC market

Bright Grey product director Roger Edwards says providers will not move back into the long-term care market until the FSA relaxes regulation.He says the introduction of the CF8 LTC qualification for advisers in 2004 seriously limited distribution and many providers decided it was not viable to remain in the market.Partnership Assurance is currently the only […]


Written in the sand

FTS, the sister company of Cardif Pinnacle, will be sponsoring this year’s annual Beach Volleyball Classic Tournament on August 23 and 24 at Central Beach, Great Yarmouth. It will also be sponsoring Great Yarmouth’s entry to the Norfolk Disability Youth Games on October 17 at the University of East Anglia Sportspark, Norwich.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm