The new multi tracker Isa is aimed at experienced investors who have previously invested in the UK but who now want some exposure to overseas markets.
A maxi stocks and shares Isa, multi tracker allows investors to place any proportion of their money in five FTSE indices, the UK FTSE allshare, the FTSE-Europe (ex UK), the FTSE-USA, the FTSE-Pacific (ex Japan) and the FTSE-Japan, and tracks the performance of these indices.
Investors can move their money from index to index via the internet or by writing to Legal & General.
Although this is not a new idea, the multi tracker is a flexible and useful addition to the market and allows the investor a chance to hedge their bets if they feel that an area has more – or less – potential than others.
According to Standard & Poor's the Legal & General European index tracker fund is ranked 51 out of 83 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over five years to July 31, 2000.