There is just over one month left in tax year 2019/2020 – so if you haven’t used your tax allowance of £20,000 for ISA savings yet, now is the time to act. We’ve put together 5 funds you should consider investing in to make the most of your tax-free savings this tax year.
When looking to open an ISA and make the most of your tax-free allowance for this year, you need to shop around to find an ISA that suits your life and your savings. If you’ve decided you want to invest your money in a Stocks and Shares ISA rather than a Cash ISA, you want to look at the available platforms.
In each of these platforms, you can invest in thousands of funds. This gives you lots of options about what you can invest your money in.
We’ve put together this list of five funds to consider for your 2020 investments to help you decide.
Index Tracker ISAs
An Index Tracker Fund will look to replicate the stock market by closely tracking performance – this will generally be done by buying the company shares in the index. You can avoid some costs with this form of fund as it avoids the charges associated with active fund managers.
- Legal & General FTSE 100 Tracker Fund ISA
- Legal & General Future World Climate Change Equity Factors Index Fund ISA
An Ethical ISA fund is a great way to invest in companies which align with your values and principles. This means you can avoid investing your money in endeavours which you might be morally opposed to, whilst still enjoying returns on your investment.
- ii ACE 30 Investments
- Standard Life UK Ethical ISA
- Kames Capital Ethical Equity
- Legal & General Future World Ethical ISA
A Fund Supermarket ISAs are available with multiple platforms and provide you with a wide range investment options, plus the ability to keep track of your investment as you go.
- Legal & General Stocks and Shares ISA
- Wealthify Stocks and Shares ISA
- Moneyfarm Stocks and Shares ISA
- Barclays Investment ISA
Exchange-Traded Funds (ETFs)
ETFs are funds which give shares, which are then traded on the stock exchange. This type of fund gives you a wide access to different kinds of investments and assets, at a relatively low cost. They can either be actively managed by you or managed by a fund manager.
Climate Change Fund ISAs
For fans of Greta Thunberg looking to put their money where your mouth is, investing in a Climate Change Fund ISA will ensure that your money will be invested in a companies which are seeking to make a positive impact on the environment.
- Legal and General Future World ISA
- Legal and General Future World Climate Change Equity Factors Index Fund ISA