The Association of Investment Companies (AIC) has launched a new computer programme to help prospective investors assess and analyse investment companies and forecast their earnings over longer periods of time.

This fresh set of tools, called Income Finder, could make it easier for investors to smooth data on monthly income into yearly figures.

The programme will look to offer investors more autonomy over their choices and would assist investment decisions with virtual portfolios of investment companies and long-term dividend dates including a five year growth chart.

Once investors have created a portfolio of potential investments, the dividends would be displayed on across a year-long graph, including the average monthly income and the number of months when no income is paid. This can be viewed for the last 12 months and for any of the past three calendar years. There will also be videos and articles designed to clear up investment jargon for investors beginning their career.

Ian Sayers, chief executive of the AIC believed that Income Finder would enable investors to research their choices more thoroughly while also allowing them to be more versatile with their income streams.

He said: “Investors can tailor their income portfolio to suit their needs, whether this is making sure they receive income in time for Christmas or ensuring they get a steady stream of dividends every month."

He added: "Last year, there were a record number of visitors to our website and we hope Income Finder will be a useful tool to help inform investors’ choices.”

AIC was founded in 1932 to represent the broad interests of the investment trust industry and has 358 members, with total assets worth £184 billion.