Isa sales are set to match those of Peps, according to figures by the Association of Unit Trusts and Investment Funds.
April 1999 launched Isas saw gross sales of £5.5bn up to the end of December, compared with Peps which saw gross sales of £7.5bn in the same period of 1998.
Autif director-general Philip Warland believes Isa sales might pick up in the closing months of the tax year. He says: “I think the jury is still out on the sales performance of Isas. I do not think they will be substantially down over the whole tax year.”