M&G is holding back on its winter advertising drive, predicting that the Isa season may not start until as late as March.
Managing director of UK retail Phil Wagstaff says its major ad campaign will not start until the end of January. M&G believes the Isa season will not begin until March rather than the New Year.
Wagstaff says: “I think the Isa season will start late for two reasons. The longer we go into Q1, the greater the opportunity there is for markets to recover. The greater amount of time which passes after September 11, the more likely investors are to start putting their money into the market.”
Plan Invest joint managing director Michael Owen says: “The population is probably not ready to invest so M&G has a point. But I do not agree with writing off January. We will be trying hard to sell in January.”