Govett Investments has introduced the Govett Isa Selector, an individual savings account that aims to deliver capital growth, income or a combination of the two.
The Isa provides a range of 17 funds and investors can choose a single fund or as many as they like up to the maximum of 17 funds.
The funds offer a great deal of sector and geographical diversity. They cover smaller companies, blue chips, index trackers, corporate bonds and technology across Europe, the UK, the US and the Far East.
This is a good feature in that it enables investors to tailor their portfolio to the objective and risk profile that fits their individual needs. However, investors are limited to Govett funds and prevents them from placing their money with other fund managers who might have more expertise and better performing funds in some fields than Govett Investments.
According to Standard & Poor's, six funds are top quartile and seven funds are bottom quartile based on £1,000 invested on a bid to bid basis with net income reinvested over three years to March 16, 2001. Three year past performance figures for the remaining four funds in the Isa range are not available as these funds are recent additions.