I want to pass my Sipp assets to my daughters

Barry is 66 and his wife is 63. They are both retired and have individual savings accounts, workplace pensions pensions and state pensions, that give them a comfortable lifestyle. However, Barry has a self-invested personal pension (Sipp) worth almost £300,000 that he does not need.

He says: "It is very unlikely that we will ever need my Sipp and so we are considering 'willing' it to our two daughters aged 36 and 33.

"Increasingly I am finding I do not have the time or will to research individual shares, and the examples of the banks, BP and Tesco demonstrate that no shares are safe and that diversification is essential.

"So, as I see it, it makes sense to reshape the holdings for about a 20- to 30-year time span, with low maintenance 'invest and forget' funds or investment trusts - with my preference being investment trusts. I reckon about five to eight funds for this Sipp. I am therefore interested to see what funds your experts suggest and any other broader-scope views."