An unprecedented number of fund firms have released their Isa season sales figures early, putting an end to the speculation of the past few weeks.
The figures confirm most of the industry's fears, with many providers suffering substantial losses on last year. Jupiter and Merrill Lynch were among the worst hit, with sales down by up to 60 per cent.
Fidelity won yet another convincing victory although its sales of £483m since the start of the year were down by 25 per cent. But sales for the whole tax year were down by just 6 per cent after strong sales at the end of 2000.
Norwich Union, Framlington and ABN Amro were the season's biggest winners. NU's higher-income plus fund, Framlington's health and ABN Amro's UK growth fund were their best sellers.
Invesco and Perpetual say they can only provide figures through a stockmarket announcement. M&G will make an announcement on April 20. Gartmore reported sales down by 25 per cent and Aberdeen saw a drop of 40 per cent.
Best Invest deputy managing director Jason Hollands says it is worth taking some figures with a pinch of salt. He says: “These figures are very sensitive and many companies manipulate them.”