Hotline offers tips on unit trusts

A FREE information service has been launched by the Association of Unit Trusts and Investment Funds that aims to give the public basic information about unit trusts.

Despite record sales of unit trust and personal equity plans last year, the number of people who have funds remains low - at about 1.5 million.

Autif believes that about 21 million people could benefit from investment in unit trusts. People telephoning Autif's unit trust hotline will be supplied with three guides - one booklet will give an introduction to unit trusts, another will provide the potential investor with a guide to choosing their first fund, while the third will provide a directory of funds, with names, addresses and telephone numbers of unit trust management companies.

Autif is also offering potential investors further help in selecting a unit trust.

If, after they have received the starter pack, investors want to go ahead and invest then they can phone the line again and they will be given a list of independent financial advisers in their area.

Autif hopes to supplement the information service over the next few months by providing a series of specialist fact sheets on particular subjects, such as personal equity plans and international unit trusts.

The unit trust hotline is on 081- 207 1361 and is open from 8am until 11pm seven days a week.