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Weak season for investment trust Isas

The Association of Investment Trust Companies says investment trust Isa season business down by 7 per cent this year.

Investment trust Isa sales in the first quarter fell to 21.7m from 23.3m in the first quarter of 2004.

The global growth sector saw the highest proportion of business with 33 per cent of the market while UK growth was second with 11 per cent.

Only 8 per cent of overall investment trust Isa business was done through advisers. The average amount invested by regular savers was 155 a month while the average lump sum investment was 3,334.

AITC director general Daniel Godfrey says the investment trust industry has been producing some strong returns since markets picked up but it is disappointing to see private investors still reluctant to invest in equities.

Macbeth Currie senior consultant Duncan Philp says: “We do not sell as many investment trusts as we used to. We prefer a normal investment Isa because it is more transparent and clients are not investing in just one company.”

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