Many ISAs and unit trusts let you make minimum contributions of £50 a month - ideal for child benefit, currently £15.50 a week for the first child and £10.35 a week for subsequent children.
Many investment professionals agree that unit trusts make a world of sense for some people -- among them, those who want to invest for a fixed time and who do not feel comfortable picking stocks themselves.
Dampier adds that the pricing is "hardly revolutionary", saying it is cheap compared to unit trusts but more expensive than many traditional investment trusts.
The strategy is often short-term in nature, yet many investors are now also applying it to unit trusts, which have traditionally been viewed as long-term investment vehicles.
Today, many commentators talk only of high fees; they would have had a shock 30 years ago when nearly all unit trusts applied an initial charge of at least 5 per cent, and sometimes 7 per cent or more.
Known as "mutual funds" in the US, "unit trusts" in the UK and "UCITS funds" in Europe, these retail funds now comprise an important part of many families retirement savings.
Like unit trusts, investment trusts invest in securities.
These Amex unit trusts are a breed apart from the traditional unit trust.
How safe are my New Star unit trusts?
Merrill Lynch declined to comment on the unit trusts.
