Corporate bond investment trusts and investment products are important throughout our lives for either building up assets or providing the money we need to achieve our goals. Investment trusts are particularly versatile in this context. They can help meet different objectives for investors from a young age until later in life, within different tax wrappers.

Investment trusts can be used to build up a lump sum for babies and young children within a bare trust or a Junior Isa. This money can then be drawn down later to help cover the cost of, for example, further education or the deposit on a first home. Then, at pensionable age, as the income drawdown process begins, trusts can be used to produce a steady stream of cash via Sipps and Isas. There are plenty of different investment trusts that can be used to achieve these age-related objectives, ranging from general, globally diversified trusts to more adventurous specialists. We asked a number of independent financial advisers which trusts they believe would be suitable to meet investors’ needs at various ages. TRUSTS FOR THE YOUNGIf you want to start building up savings free of tax for children within a Junior Isa or bare trust, globally invested trusts are the classic choice.

Several of these trusts offer their own in-house children’s savings plans or Junior Isas. Co believes it is still a good choice. He says: ‘The “daddy” of investment trusts has never been afraid to move with the times. Recent changes have seen it develop a truly global focus.

It may never be a high flyer, but is always steady and reliable. Gregor Johnston, director of independent financial adviser Fitzallan, also recommends this trust for childrens’ savings. As an alternative, Klonowski suggests Witan. He says ‘I like Witan’s multi-manager approach to achieve diversification. Witan’s manager sets the asset allocation, then uses specialist fund managers to run different parts of the portfolio. Investors gain the expertise of 10-15 managers with different approaches and styles.

Another type of global trust is recommended by Jason Hollands, spokesman for Tilney Bestinvest. He suggests Scottish Mortgage as an option for children. He says ‘Scottish Mortgage has a fairly high-octane, unconstrained approach to investing in global equity markets and can also allocate to unquoted companies. The focus is very much on high-growth companies. Alternatively, he recommends Pacific Assets, which invests specifically in growing Asian markets, such as India.