LV= (Liverpool Victoria) has launched a new range of ISA fund options as savers are continually hit by falling interest rates.
The Bank of England has so far cut the base interest rate to one per cent, and is expected to cut it by a further 0.5 per cent at its next meeting, which is why LV= has launched a new range of investment ISAs
The range of LV= ISAs
are 'multi-manager' funds, which means they give investors ready-made investment portfolios which include well established investment managers including Fidelity, Jupiter and M&G.
And, as returns on cash ISAs fall to a low of 1.94 per cent, LV= has launched the investment ISAs as a way for savers to secure potentially higher returns over the long-term.
Commenting, head of multi manager at LV= Tom Caddick said: "Knowing that this year's ISA
allowance will be gone for good on April 6 puts pressure on investors.
"While it is impossible to say if markets have passed the rock bottom point yet, I am confident that we will look back on 2009 as a time of great opportunity for those willing to take a long-term view."
The LV= investment ISA range includes the LV= Diversified Income ISA fund
aimed at producing an attractive level of income, and the LV= Balanced Managed ISA fund
which is aimed at achieving long term growth, along with the LV= Stockmarket ISA
According to LV=, those who choose to invest into their ISA fund regularly will also benefit from the effects of 'pound-cost averaging', where an investment will buy more units when the price is low, meaning a benefit when the prices rise again. Compare investment ISA deals »
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