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Disappointment for AITC as sales dip in third quarter

Sales of investment trust saving schemes fell by 5 per cent to £48.7m in the third quarter of 2003 from £50.5m in the same period last year.

Figures from the AITC show sales of investment trust Isas were down by 10 per cent to £12.2m £13.5m.

The global growth investment trust sector accounted for 55 per cent of saving schemes sold in the third quarter, up from 42 per cent in the second quarter, while 7 per cent of sales were in the UK growth and income sector, down from 8.5 per cent. The average monthly investment was £158 while the average lump sum was £1,985.

Director general Daniel Godfrey says: “Given the strong performance of the sector over the last year, it is disappointing to see the year-on-year purchases slightly down. But saving scheme purchases, which count for the lion&#39s share of investment trust retail purchases, are slightly up on the previous quarter.”


Woolwich Plan Managers – The Premium Protected Growth Plan

Type: Guaranteed equity bond Aim: Growth linked to the performance of the FTSE 100 index Minimum-maximum investment: £3,000-£500,000, £1,500 Isa/Pep transfers, £3,000-£7,000 Isa Term: Five years and six months Guarantee: Original capital returned in full at end of term regardless of movement in indices Return: Up to 100% growth in index Closing date: January 15, […]

Temple officially in default

The Financial Services Compensation Scheme has officially declared RJ Temple in default opening the way for individuals who have lost money to claim compensation from the FSCS. The Scheme says most claims against the firm will be resolved within six months.

Margin sees some fund firms shun Standard fund platform

Standard Life&#39s mutual fund platform, which is due to launch next year, will not feature funds from major groups such as New Star, Threadneedle and JP Morgan Fleming. The platform will offer links to a number of Standard Life Investments&#39 funds and around 60 from external groups, including Schroders, Jupiter, Liontrust and Invesco Perpetual. A […]

Equities Outpace property Increase

IFAs must urge investors not to chase flavour-of-the-month sectors such as property without looking at the bigger picture, says The Money Portal. TMP is concerned that investors are continuing to shun equities in favour of sectors it says are often at their peak, slowing or lagging behind other asset classes. As an example, it says […]

UK gilts: Shaken and stirred

Mike Riddell, fixed income portfolio manager at Allianz Global Investors, reviews the performance of the UK government bonds market post-Brexit and assesses its future prospects, as well as giving his outlook for global fixed income markets and yields movements. In addition, he provides a brief analysis of the impact of Brexit and the Bank of […]


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