The Isa season may be over but it was not, as many predicted, dead. Early indications from some of the leading providers show that sales have rocketed since last year's disaster, providing a much-needed fillip to what was increasingly being viewed as an irrelevance to most firms' businesses.
It is far too early, however, to suggest that this is anything more than a brief resuscitation. Doubling or tripling sales is no mean feat but, when those sales barely registered on most product providers' balance sheets, there is little point in getting carried away.
Only when the IMA publishes its overall sales figures in the coming weeks will we really see how much sentiment has returned among the crucial occasional investors.
But there is little doubt that the initial signs provide grounds for optimism, at least for those who believe that the Isa season has a purpose. Its critics – rightly – point out that providers should do more to encourage year-round investing, a duty that many have been all too happy to shirk.
This undoubtedly needs to be addressed but will the death of the Isa season – an eventuality that would require a good many people to stop investing – be the outcome? Money Marketing thinks not.
In its short history, the Isa season has done much to capture the imagination of a public never famed for its propensity to save, raising awareness where previously there was none.
The Government, of course, is doing its best to erode all the tax advantages of Isas. But until we get to the nirvana of a well-educated year-round investing public, Money Marketing hopes that the Isa season, for all its faults, continues for a few more years. Investing late is better than not investing at all.