Mr Launton plans to hold the trust for 10-15 years to help fund his young children through their education.
Richard Launton, a 33-year-old accountant from Bishop's Stortford, has invested in The Fleming Continental European Investment Trust. He puts in pounds 40 a month and reinvests the dividends. He was attracted to investment trusts by their low costs and limited annual charges. He used the financial press to help him choose the fund: "I wanted exposure to the European market and I think in the long term there are plenty of growth opportunities in Europe." Fleming Continental has a third of its holdings in France and Germany with a small amount (4 per cent) held in the UK.