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Bestinvest reports jump in Isa sales

Bestinvest today reported an 8.7% spike in its Isa sales for the 2008/09 year, with corporate bonds the most popular asset class among investors.

The sector beat equity income funds into second place, with UK All Companies the third most popular peer group.

Yesterday the Investment Management association released its numbers for the full financial year, which recorded net Isa outflows of £975m. This compared with a £1.7 billion the previous tax year.

Meanwhile earlier this month Hargreaves Lansdown reported a 4% drop in Isa contributions for the full tax year.

As a result of the rise in Isa sales, Bestinvest said it is looking to recruit new investment management advisers and full financial planning advisers.

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