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IMA: Isa sales fall by almost £2bn for 2011-12

The Investment Management Association has revealed net sales of Isas dropped by almost £2bn for the 2011-12 tax year.

Net sales for the full tax year of approximately £2.1bn were reported, compared with net sales of more than £4bn for the previous two tax years.

Net retails sales of just £6m were reported during the first quarter of the year.

IMA chief executive Richard Saunders says: “Isa sales in the last tax year were a reasonably healthy £2.1bn, though well down on the previous two tax years.”

The biggest selling IMA sector for Isa sales during March was the sterling strategic bond sector, recording net sales of £53m.

The second best selling sector was the IMA global emerging markets sector with net sales of £35.5m, while the mixed investment 20-60 per cent Shares sector saw net inflows of £35m.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. It would be interesting to see how the IFA sector fared in these stats. Generally we are getting regulated out of this business as it still remains not very profitable line of transaction. Yet another failing of the FSA?

  2. Marty, could your comment be a reason to opt for RDR! If the ‘commission’ on ISAs is not competitive for the work involved – perhaps the investment advice fee process is where the market lies.
    I know a whole bunch of IFAs across the UK who still use ISA as the first port of call for investment clients and have had a very good ISA season. They seem to work well when included in overall investment planning strategies.
    I know very few who attempt an ISA campaign with their clients without really knowing them. Most are YoY isa investors so almost an easy sell.

    Or could it be that people are opting for Cash ISAs with the c.3% rates that are on offer – and for that even an IFA can’t expect payment!

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