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Special sits tops Isa sales as cash funds show strength

Cash funds are among the best-selling Isas this year along with growth and technology funds, which buck the trend towards equity income funds, according to Skandia.

Overall, cash is the seventh most popular option for lump-sum and regular-premium Isa investors going through Skandia&#39s fund supermarket multifundshop last month, with growth and tech funds also featuring in the top 10.

Perennial favourite Fidelity&#39s special situations fund is top of the list, with Jupiter&#39s income fund second. Fourth is Fidelity&#39s money builder income fund and fifth is Credit Suisse&#39s income fund managed by Bill Mott. Fidelity&#39s third fund on the list, its European fund, is eighth while Gartmore&#39s European selected opportunities fund is 10th.

Invesco Perpetual&#39s European growth fund is in third place and its income and growth fund is sixth. Henderson&#39s global tech fund, which is offering free Isa transfers through Cofunds and Skandia until April 5, is ninth.

The list alters when it is broken down into lump-sum and regular savers, with cash rising to third on the list for investors in the lump-sum category and dropping out of the top 10 for regular savers. Fidelity&#39s special situations fund and Jupiter&#39s income fund feature on both lists.

Skandia head of investment sales Angus Duncan says: “It is encouraging to see that investors who do not want to put their money into equities at the moment are using up their Isa allowance to take advantage of the tax benefits.”

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