The world's first classic car fund

Stuart Ballantyne, head of Select from Direct Line, said:  "With paper assets continuing to offer low returns in value, many investors are once again turning to physical assets to generate not only better returns but also offer some enjoyment in investing their hard earned money.  Investors are turning to wine, art and even cars to give themselves some financial fun.  There is also the added bonus that as the emerging wealth of India, China and Russia seek out these 'wealth tokens,' prices for French wine, classic cars and art by fashionable artists are likely to continue to improve.  This week IGA Automobile announced plans to raise £31m for the world's first classic car fund.  The seven year fund will target 25 cars to purchase including the Aston Martin DB4 Zagato and Ferrari 250 GTO.  For those lucky enough to own a sought after classic car, make sure your insurer has it valued adequately on an agreed value basis in this specialist market."