ISA sales slowdown

Recent falls in the stock market have hit sales of Individual Savings Accounts (ISAs) according to the latest figures from the AUTIF (Association of Unit Trusts and Investment Funds, the industry trade body).

Morningstar.co.uk Editors 26 March, 2001 | 4:10PM
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Net sales of unit trusts and Open Ended Investment Companies (OEICs) held in ISAs fell to £646.8m in February compared to £1,029.3m in February 2000. ISA sales were up from £517m in January but this is a normal seasonal increase.

Total gross sales in February, including institutions as well as retail investors, were £3.7bn. This represents a fall of 17% on January 2001 and 23% on last February. However, AUTIF said that as yet there were few signs of a shift to lower risk funds.

Different beliefs

Looking at the breakdown of the statistics for February, there is a big difference between retail

and institutional investors. The UK All Companies and Europe Ex. UK were among the sectors attracting the most money from retail investors in February. These same sectors saw the biggest withdrawals from institutional investors during the same period.

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