View more on these topics

Seven million plan to put cash into Isa

Nearly seven million people plan to open an Isa by September, according to a Mori survey conducted for Newton Fund Managers.


The survey will be welcome news to the Government, which is yet to launch its Isa awareness campaign.


Newton says about 15 per cent of people think they will invest in an Isa in the first half of this financial year compared with just 8 per cent who intended to invest in Peps during the same period last year.


In-house research has also revealed that 20 per cent of Newton customers intend to invest more in an Isa than they did in a Pep.


Director Simon Wombwell says the survey suggests a positive start for the Isa. He says: “The savings habit seems to be picking up speed and the key task for both the Government and providers will be to ensure the public buy the right Isa.”


The survey found that, of the possible Isa investors, those aged between 25 and 54 are more likely to invest than those over 55 who are nearing retirement.


Overall, investors aim to save an average of £2,212 in Isas in the first six months although individuals nearing retirement have more to invest and will save an average of £4,258.

Recommended

Life offices &#39surrendering on referrals&#39

The Association of Policy Market Makers claims it is winning its battle to persuade life offices to encourage customers to sell rather than surrender with-profits endow ment policies.It says the number of calls it received from policyhold-ers who had been referred directly from life offices increa sed by 25 per cent in the first quarter […]

L&G sees stocks and shares Isa take £3m

Legal & General says it has attracted over £3m into its stocks and shares Isa in the first few days of the tax year.And 90 per cent of regular savers have already signed up to continue regular savings in an Isa.Legal & General head of savings and investments says: &#34L&G&#39s strategy of offering customers competitive, […]

BFS split-capital trust will invest in small companies

BFS Investments is seeking £25m for a new split-capital investment trust with two classes of share.The trust will be launched through a placing sponsored by Williams de Broe and will aim for income from investing in UK smaller companies capitalised at less than £100m.Its two share classes will be zero dividend preference shares and ordinary […]

Glasgow gets backing for share ownership

Glasgow Investment Managers is set to become majority owned by its own staff.It has gained approval for staff to increase shareholdings within the company up to a maximum of 50.1 per cent.The agreement with its controlling shareholders Shires Income plc, allows for this provision if certain profit objectives are met.The provision is intended to enable […]

Trusts and Taxations

Take a look at the trusts and trustee taxation video – The definition and classification of trusts. Once you’ve viewed the boxset, visit our Test Centre to test your learning and get your CPD certificate. View here

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment