Boost II

iTrader: (1)

Hi,
I'm looking to stick some money in a share ISA - happy to squirrel it away for a rainy day and hope it grows over a number of years. Broadly speaking investment funds seem to be either growth funds or income funds. First thought was that a growth fund is most appropriate, however I see that if you don't want to take income you can accumulate money in an income fund. Also there are growth funds that you can take income from. It seems that the best performing growth and income funds would have returned the same amount of money on a sum invested 5 years ago.

So what are the differences between growth / income funds, or does it even matter if I pick either of them if it has a good track record of performance?

Any thought welcome........