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Isas on rebound

Isa sales have bounced back from last September’s outflow.
IMA figures show net sales recovered to 45.3m in November although they were still well below sales of 200m in November 2003.

September saw a net outflow of 23.5m for the first time since the introduction of Isas in 1999, following the lowest recorded inflow of just 25m in August.

Total investment funds under management increased to 267.8bn in November from 260bn in October although total net sales of 562m were down by more than a third on October’s 902.2m.

IMA deputy chief executive Sheila Nicoll says: “We hope that the recent announcement from the Treasury that current Isa limits will remain until 2009 will remove some of the uncertainty which has affected the Government’s hitherto most successful savings product.

“It remains to be seen whether Isas will reach their previous popularity and fulfil their potential in encouraging individuals to save.”


Jupiter recruits to develop fund teams

Jupiter Unit Trust Managers has take on a new fund manager and a business develoment director.
The asset manager has taken on fomer Cazenove fund manager Simon Somerville to lead its assault on Asian markets.
Meanwhile, former chief executive of Invesco Europe Tristan Hillgarth has been appointed to the newly created position of group business development director.
Jupiter celebrated its 20th birthday this week.

BSA launches CTF leaflet

The BSA has produced an easy leaflet to help parents understand what the CTF is and how they can use their

Benefits of using a probate bare trust

Have you ever wondered what happens to someone’s investment bond on their death if it is not written in trust? When someone dies it is essential to deal with their estate, which can be made up of their home, belongings, investment bonds and anything else they may have owned. But, it is not as simple […]


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