Having a Tessa in the family is no longer an option since the arrival of the Isa. But what else is out there for the UK's more risk-averse investors? William Russell investigates
It is estimated that more than £7bn is tied up in tax exempt special savings schemes (Tessas) due to mature during the rest of 2001. With interest rates falling and stock markets groaning, Tessa savers are facing the dilemma of how best to protect the future value of these savings. This may account for the fact that so many of those whose estimated £14bn worth of Tessa savings have already matured this year have yet to make up their minds as to their next move. Account holders are being given six months to decide, after which the money will automatically be switched into an ordinary ac...
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