The range of funds on the market can be baffling to new investors. Here’s what you need to know.
Savers moving from deposits into funds face a bewildering array of options in the ever expanding funds universe. There are more than 600 domestic funds in 30 categories from 20 different fund providers, according to the Irish fund data provider Longboat Analytics. Choosing between them can be overwhelming for anyone unfamiliar with funds, particularly given their increasing complexity. Gerry Hassett, chief executive of Irish Life, said:“People find the world of funds very daunting, and there’s a lot of them out there. If you’ve never done it before, it can be intimidating.” We round up some of the main funds that savers coming from deposits might look at for a better return on their cash.