Investment Trusts - Where to Start?

[HonestIago]

Given my cash in the bank generates less than 1% interest (RBS), I am looking to start saving approx £500/month (I may increase this) into an investment trust of some description. The idea is after 3 years or so I'll have a lump sum that I can put toward a property of some description (either BTL or my own I'm not sure yet).

I use Interactive Investor for my share portfolio and have spent some time browsing trustnet, but I'm just not sure how to pick a fund without just basing off historical returns. Any input appreciated!

[Newc]

Why particularly are you interested in an IT? Have you already considered and rejected a regular tracker?

[PetrolTed]

The FT publishes an excellent book on ITs. Available on Amazon.

Do more research though - charges on ITs aren't always cheaper than unit trusts these days and the discounts/premiums and gearing can make them more difficult to assess than UTs, trackers or ETFs.

[HonestIago]

Looks like I need to do a bit more research, thanks for the replies! I just want a (fairly) safe place for savings that will likely get me solid (if not amazing) returns.

[PetrolTed]

Research, research, research. Thanks to the internet you can get up to speed on this stuff. A couple of weeks of reading will put you in a good place. Take your time and you'll be far more confident in making your decisions.

[CrouchingWayne]

Have a look at Vanguard Life Strategy, might suit you. A passive investment.

I use HL to buy/sell, although their fees recently changed making them much less competitive.