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Widows gears up with global Isa

Scottish Widows is gearing up for the end of the tax year with the introduction of its global individual savings account (Isa).

This unit trust Isa invests in the Scottish Widows global fund, which sits alongside 162 other funds in the global growth sector. It aims to produce capital growth by investing in any sector or any region, including the UK. The stocks selected by the fund managers are primarily blue-chip companies that are easily recognised such as Johnson & Johnson, Sony, Shell and Vodafone.

The global fund is unlimited in terms of sector or region and this diversity dilutes the risks that affect investors who are specialising in volatile regions or sectors.

The Isa might be suitable for investors who are adventurous enough to look beyond UK blue chips, but who are reluctant to throw themselves into technology or the Japanese market. However, simply wrapping the fund in an Isa does not give it an edge over similar global funds that are Isa eligible.

According to Standard & Poor&#39s the Scottish Widows global fund is ranked 25 out of 163 funds based on £1,000 invested on a bid to bid basis with net income reinvested over three years to February 2, 2001.

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