The man at the heart of a charitable fund which last year failed to attract sufficient investor interest said government plans to launch an ISA investing in schemes to help the poor are doomed to fail.
Angus Duncan was head of distribution for Invest & Give, a multi-manager Oeic launched last year with the backing of 12 fund groups in support of The Princes Trust. But, just a year after launch, the fund was wound up after failing to attract enough assets. Duncan said he would not be surprised if a similar fate befell plans for an ‘early intervention’ ISA, which would offer savers a £200 boost to their ISA limit if they agree to invest their money in schemes to help the poor. The money would pay for initiatives aimed at helping teenage mothers, young criminals and children from wo...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
