Which of the following is considered a packaged product?

A packaged product is typically defined as a financial product that combines various components and is sold as a single offering. Regulated collective investment schemes fit this definition as they pool investors’ funds to invest in a diversified portfolio of assets, often managed by a professional fund manager. This structure creates a package that provides investors with a variety of underlying investments, thereby giving them exposure to markets or sectors that they might not be able to access efficiently on their own.

In contrast, a cash deposit ISA, standard checking accounts, and individual savings accounts do not embody the characteristics of a packaged product. These are more straightforward financial products where the focus lies on the individual component without a bundled or collective investment aspect. A cash deposit ISA allows individuals to save money tax-free, but it does not involve a variable collection of diversified financial instruments. Similarly, standard checking accounts and individual savings accounts serve specific banking needs without the complexity of a combined package typically seen in regulated collective investment schemes.