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November Isa sales down

The Association of Unit Trusts and Investment Funds blames disappointing markets and seasonal sluggishness for lower investment fund sales this November.

Isa sales of £669m this November, although lower for both the previous month and November 1999 – £700m and £744m respectively – are higher than Pep sales for November 1998 of £659m.

AUTIF public relations manager Clare Arber says: “With stock markets flat and interest rates low, there is clearly a dilemma for investors. The continuing flows into core sectors, such as UK All Companies and Europe, suggest that investors do understand that performance is a long-term concept.”

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