Rosie Murray-West

For many people, the ability to achieve a regular income from investments is important. This may be particularly relevant for people who are retired and no longer have a monthly pay packet to rely on and are looking to achieve financial freedom, while other people require their investment to pay out regularly to cover a regular commitment such as school or university fees.

While most funds on the market are what are known as open-end funds, or mutual funds, there is another option that has become exceptionally popular in recent years. Investment trusts have traditionally been less popular than mutual funds, but this is changing. Recent figures from the Association of Investment Companies (AIC) show that investments in these trusts reached record levels in the last twelve months.

For younger people who want to save for their futures, there is now a new kid on the block. The Lifetime ISA (LISA), has been available since April 2017 and comes with the alluring promise of a 25 per cent bonus on top of your annual savings. But how do eligible investors choose between this product and a pension.