Sales of investment trust savings schemes and Isas have continued to fall as investor confidence in ...
Sales of investment trust savings schemes and Isas have continued to fall as investor confidence in the sector and in markets generally remains under pressure.
The total purchases of investment trust saving schemes in the third quarter of 2002 decreased 10% to £50.54m gross from £55.90m during the same period in 2001, according to figures from the AITC.
Investment trust saving scheme purchases were also down 14% compared to the second quarter of 2002, when sales totalled £58.54m.
Investment trust Isa purchases through investment trusts and their managers decreased 24% to £13.44m in the third quarter compared to £17.65m in the same period a year ago. They were also down 64% from sales of £36.94m in the second quarter of this year.
AITC director general Daniel Godfrey said three years of falling markets and the problems among split capital investment trusts have generated investor concern.
Meanwhile. European investors sold e0.9bn of equity funds in October, the second consecutive month of outflows, according to research from Schroder Salomon Smith Barney.
Italian and French investors dominated redemptions during October, selling a combined e61.6bn of equity funds.
£1bn business since inception
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