Only £319.3m of net ISA sales were recorded this February compared with £646.8m at the same time last year according to the latest figures released by the Investment Management Association (IMA).
This was up £43.7m from January of this year but this increase was the result of a normal seasonal effect. The sale of ISAs tends to rise as the end of the tax year in April approaches but this year’s increase was not only from a lower base but also by a smaller percentage.
Net sales of ISAs in 2001 rose 25.1% from January to February, to £646.8m, while over the same period in 2002 the increase was of 15.9% from January to February, to
£319.3m.
Reflecting a cautious investment approach retail investors favoured the UK corporate bond and UK equity income sectors, with total net retail sales totalling £163.5m and £144.4m respectively.
Institutional investors appeared more hopeful about a global recovery as in addition to the UK corporate bond sector recording £129.9m in net sales, the global growth category had £224.8m in net sales.
The worst selling funds for retail investors in February were those in the UK smaller companies and UK equity & bond income sectors while institutions shunned the Europe excluding UK and the active managed sectors.
Fund supermarkets made about £60m of net ISA sales in February, up from about £40m in January. The IMA also announced that it would begin collecting systematic data on fund supermarket sales. Some £1 billion in ISA funds is under management through these supermarkets.
SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk
To view this article, become a Morningstar Basic member.
Register For Free
The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.