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IMA slams IPPR Isa research

The Investment Management Association has slammed the Institute for Public Policy Research&#39s call for the scrapping of Isas, saying its conclusions are misguided and its proposals unlikely to lead to increased saving amongst low earners.

The IPPR says Isas have failed to penetrate those earning £10,000 to £15,600, but the IMA said Isas have continued the momentum started by Peps and Tessas in pushing flexible medium-term savings down the income spectrum.

IMA chief executive Richard Saunders says: &#34It is misguided to suggest that scrapping stocks and shares Isas will encourage those on lower incomes to save. It would simply remove a useful savings vehicle for middle to lower income earners who are attracted by its flexibility and tax exempt status.

&#34The IMA strongly believes the Government should maintain the tax benefits that have made these a historically successful savings product for medium term savers.&#34


Clerical cuts up to 19% off WP bonuses

Clerical Medical has cut up to 19 per cent off the value of its with-profits policies.It blames the cuts on severe investment conditions and accepts that there will be many policies left without terminal bonuses in addition to those policies which had their bonuses wiped out after Clerical&#39s bonus declaration last August.The company has cut […]

Noble Fund Managers – Enterprise Venture Capital Trust

Friday, 7 February 2003 Aim: Growth by investing in quoted and unquoted companies Minimum investment: Lump sum £1,000 Opening/closing date: December 19, 2002/April 2, 2003 Charges: Subject to negotiation Commission: Initial 3% Tel: 080 7367 5606

Aviva Funds International opens door to Euro property

Aviva Funds International has expanded its range of Privilege portfolio funds with the introduction of the Prvilege portfolio European property fund. This Luxemburg-based Sicav invests in the stocks of property management companies rather than investing directly in bricks and mortar. It will hold around 25 stocks across countries and sectors. The management of the fund […]

Investor gloom at lowest level since September 11

Investor confidence is at its lowest level since the terrorist attacks on the Twin Towers on September 11, 2001, according to research commissioned by JP Morgan Fleming.Forty-two per cent of investors questioned for the survey predicted that stockmarkets will be even lower in six months&#39 time. Only 22 per cent believe there will be a […]

Lifetime ISAs – International Evidence

By Fiona Tait, Pensions Specialist Since the announcement in March, the Lifetime ISA (LISA) has attracted controversy. Heralded as a saviour for the self-employed and the young wanting to get on the housing ladder, the new LISA risks adding confusion for savers trying to fully understand the benefits of new workplace pension savings through auto-enrolment. To […]


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