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Jupiter says Isa season is in doubt

Jupiter&#39s investment trust chief has warned that this year&#39s Isa season may not happen and could be written off by fund managers unless conditions change dramatically for consumers.

Speaking at the Money Marketing IFA UK Conference in London last week, head of investment trust business Andrew Watkins said he did not think there would be an Isa season and added that Jupiter was planning to scale back its advertising spend this year.

Asked whether there would be an Isa season, he said: “No. It is not going to be like it has been in previous years.

“Fund managers normally spend a lot for that two-month period but I do not think anyone is going to rush into the market unless conditions change dramatically.”

Sales of investment products have reached record lows this autumn after being hit hard by fragile market conditions, concern after September 11 and negative returns on products sold last year.

Baronworth Investment Services director Colin Jackson says: “I have just spoken to a fund manager trying to get me to sign up to a mailing shot. I am not prepared to spend money on a mailing shot that I think has no chance of success.”

Conference report, p12 & 14

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