View more on these topics

IMA: Over £1bn invested in Isas through funds last year

UK-Currency-Money-Pound-GBP-700x450.jpg

Net sales for fund Isas hit £1.1bn for the 2012/13 tax year, of which nearly £350m was through transactions made over the first five days of April, data from the Investment Management Association has revealed.

Between 1 April 2012 and 31 March 2013, IMA £ strategic bonds were the top-selling sector with £387m of sales. Mixed investment 20-60 per cent shares was the second most popular sector during this period, followed by global equity income, global emerging markets and Asia pacific excluding Japan. 

Tracker funds saw the highest outflow in seven years in March with £137m of redemptions. 

The IMA also revealed mixed asset funds were the best-selling asset class in March with net retail sales of £291m. 

IMA chief executive Daniel Godfrey says: “The last minute rush into Isas at the end of the tax year appeared again with £347m invested in the first five days of April alone.

“Overall sales were lower in March compared to recent months. The sector rankings for the month both for Isas and funds in general suggest that investors are spreading their money across different asset classes and that both growth and income strategies are in demand.”

AWD Chase de Vere head of communications Patrick Connolly says: “We saw strong performances in stock markets so we had renewed investor confidence. This is still fragile and it will not take much to turn investor confidence around.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com