Cofunds launches 'cash shelter' for ISA investors

Cofunds has launched a 'Cash Reserve' which allows IFAs to secure their clients' 2001/2 ISA allowance but delay exposure to the market until they feel comfortable. The shelter offers the opportunity to hold cash within a stocks and shares ISA prior to it being invested in the equity or fixed interest markets. Because the Cofunds Cash Reserve is a stocks and shares ISA offering a cash option, not a Cash ISA, investors are able to shelter their full 2001-2002 allowance of £7,000, although the money must ultimately be intended for investment. Clive Boothman, Chief Executive of C...