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With easy-access cash ISAs offering over 4% interest, some investors question the need to invest elsewhere. As fund managers, the authors are confident in delivering post-charges, inflation-busting returns over 3-5 years, outperforming cash accounts. They cite four reasons:

1. Actively managed credit funds offer superior returns to cash, with high-quality funds providing annual returns double or more the current cash yield.
2. Attractively valued equities offer excellent long-term return prospects, with the UK equity market trading at a price-to-earnings multiple of around 10x, historically associated with 10-15% annualized returns.
3. Selective opportunities in investment trusts and alternatives, such as wide discounts and near-term catalysts for value realization, provide excellent opportunities.
4. Investors in the funds are paid to wait for capital performance to improve, with distribution yields close to all-time highs, providing a similar yield to cash while accessing a portfolio with potential for attractive capital growth.

The authors caution against putting all eggs in the cash basket, as returns on cash remain below inflation, eroding capital in real terms, and may fall if interest rates decrease. They emphasize the importance of time in the market, rather than timing the market, for long-term savers and investors.