ISA sales strong in December

ISA sales strong in December January 30

Filed under ISA News by Isa guides | 0 comments

New figures from the Investment Management Association (IMA) have showed that investment funds under management saw an 18 per cent year-on-year increase in December, reaching £410 billion.

Within this, ISA sales were in a strong position, seeing sales of £107 million during the month - much higher than November’s £3.1 million outflow - although this was in fact a 16 per cent decrease on the figure for December 2005.

UK All Companies was the most popular ISA sector for investment during the month, taking up 26 per cent of gross ISA sales.

Richard Saunders, chief executive of the IMA, commented: “2006 was a good year for the investment funds industry with funds under management breaching the £400 billion mark for the first time in December and net retail inflows the second highest ever.

“But perhaps the single most significant development was the confirmation that the face of retail distribution is seeing real change, with fund supermarkets now dominating ISA business.”

Written Exclusively by AdFero for ISA Guides

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