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Investment trust Isa sales down by 32% last year

Total purchases of investment trust Isas fell by 32 per cent to £155.8m last year from £228.4m in 2000.

AITC figures show that sales were badly hit in the fourth quarter of 2001, with purchases of investment trust Isas dropping by 15 per cent from the third quarter to £14.9m from £17.6m.

In a year-on-year comparison, this represents a fall of 59 per cent from £36.7m in the fourth quarter of 2000.

However, sales of investment trust saving schemes showed signs of a slight recovery in the fourth quarter of 2001, rising by 5 per cent to £58.9m from £55.9m in the previous quarter.

Despite the rise, saving scheme purchases on a yearon-year basis were still down by 50 per cent from the fourth quarter in 2000 when sales stood at £117.6m.

The AITC says it is disappointed by the figures but believes the late boost to savings scheme sales shows that investors have not lost their nerve.

Director general Daniel Godfrey says: “After a record year for investment trust purchases in 2000, it is disappointing but not unexpected given the increasingly volatile markets throughout the year and the end of the AITC&#39s consumer ad programme to see a decline in investment trust purchases in 2001.”

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