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Jupiter urges investors to consider income funds

Jupiter is urging income-seeking savers to consider broadening investment options as interest rates are at their lowest level for almost four decades.

Despite recent poor performance in stockmarkets, income funds compare favourably to building societies for income and capital growth.

Over the last 10 years, Jupiter says an investor in its income trust would have seen their annual income rise from £51 to £128 per £1,000 of original holding. Interest on each £1,000 deposited in an average building society deposit account would have fallen from £58 in 1992 to £24 today per £1,000 original holding.

A sum of £1,000 invested 10 years ago in the fund has grown at an average rate of 16 per cent a year and is now worth £4,491.

Managing director Steve Glynn says: “Savings rates have been low for a long time and show no signs of a substantial increase in the near future. Add to this mounting uncertainty over with-profits payouts and it becomes clear that savers&#39 money will have to start working that bit harder to derive the income that savers require.”

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