Apr 28 2008
The Bond Exchange of South Africa has been added to the official list of markets in which British funds are reliably invested, it has been revealed.
Money in individual saving accounts (Isas) and child trust funds tend to be invested in what HM Revenues and Customs (HMRC) describes as "listed" exchanges based around the world and the South African bond trading body has now been recognised as such.
British consumers often use their equity-linked investments as a way of saving for children and experts suggest that these assets should be allocated in a diverse portfolio representing stocks from around the world.
Tony Vine-Lott, director general of the Tax Incentivised Savings Association (Tisa), said: "Tisa is extremely pleased to see yet another recognised exchange added."
"In the modern world, the UK's diverse investor-base demands access to a truly wide range of investment opportunities," he added.
Earlier this month, Mr Vine-Lott welcomed HMRC's announcement that record numbers of people around the UK are making use of their tax-free Isa allocations.
