New cash park opportunity available

12 February 2008 / by None
Individual Savings Account (Isa) investors who are apprehensive about the stock market due to recent volatility can take advantage of a new Cash Park from Fidelity Funds Network.

The group is to make it s Isa Cash Park available to investors in mid-March which will pay monthly interest at a gross annual rate of 4.85 per cent.

This will enable investors to obtain tax advantages on their full £7,000 allowance before April 5th while being able to invest at a later date.

Commenting on the opportunity, David Dalton-Brown, head of Fidelity FundsNetwork, said: "When investors decide the time is right to invest, they can then switch their money from the Isa Cash Park, including interest earned, to any of the 1,100 plus funds from the 60 investment groups on the FundsNetwork platform."

The full maxi allowance can be made as a cash deposit provided customers intend to invest into equity or bond funds.

Elsewhere, Funds Network recently said that investors in Chinese markets should expect increased turbulence this year.

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