Top ISA picks of 2008 revealed

New research has highlighted what are expected to be the top ISAs for this season as the tax year deadline of April 6th approaches.

An independent financial advisor (IFA) poll by Abbey subsidiary James Hay reveals UK equities are expected to perform well in 2008 and the experts are favouring emerging markets.

The expected top performing asset class for 2008, was expected to be Asian equities (excluding Japan), followed by emerging market equities and UK equities.

The top five was completed by Eastern European equities and cash investments.

Over five years, the expected top performing classes were: emerging equities, UK equities, Asian equities (ex Japan), Eastern European equities and Western European equities.

The poll also revealed the asset classes IFAs are avoiding.

The expected worst performing asset classes for 2008 are: UK residential property, UK commercial property, and US equities.

Over the next five years, assets to steer clear of: UK government bonds, corporate bonds, and cash investments.

Chris Smeaton, propositions manager at James Hay, said: "It is clear from this research that IFAs believe that there will be a significant divergence between the performance of geographical regions and asset classes over time.

"This highlights the importance of investors seeking advice from a suitably qualified professional adviser who can advise from across the whole market."