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Stocks and shares ISAs are the favourites among investors who love to take risks. If you want fair deals out of this risk-return game there are a good way you can plan your investment.

The most important among all tasks is to decide the correct fund.  With value ISA you can choose suitable funds from a variety. If wish you can also go for ISA transfer or directly invest in a fund. Thus when it comes to fund selection and creating your own portfolio ISAs don’t have any substitute.

Let us see what are the types of funds you can allocate your invested money.

Cash ISAs

1. This is for long term or short term savings
2. Low risk, low return fund
3. You can access your money anytime
4. Useful for those who want liquid savings

Bond funds

1. For regular and consistent income
2. Risk profile lower than equities
3. Minimum investment amount £1,000

Equity funds

1. For potential return and long term capital growth
2. Risk profile higher than bond and cash funds
3. Initial fund selection charges are low if you do it online
4. Minimum investment amount is £1,000

Money builder funds

1. For easy and convenient saving options
2. There are no initial charges
3. You have 7 funds to choose from
4. Minimum invest amount is £500
5. The fund is freely switchable

There are other funds too depending on the market releases. It depends on how good ISA provider you have contacted for your stocks and shares ISA. Only a few companies will allow you to select from 1000s of funds and give access to 100s of external fund companies. This way you have better opportunity to filter out prospective funds from a lot.

There are ready-made portfolios available also.  Speak to your ISA opening advisor and know what works best for you.