Total purchases of investment trust saving schemes through investment trusts and their managers fell...
Total purchases of investment trust saving schemes through investment trusts and their managers fell 32% to £36.49m in the first quarter of 2003, compared to £53.87m for the same period a year earlier.
Sales were down 14% from the fourth quarter of 2002, when they amounted to £42.64m. Global Growth trusts were the most popular products, accounting for 46% of sales in the first quarter of this year, up from 45% a year earlier.
The UK sectors were the second most popular, with 10% of saving scheme purchases accounted for by the UK Growth & Income sector, compared to 8% a year earlier, and 7% of purchases in the UK Growth sector, compared to 8% a year earlier.
‘Important to have an anchor’
Report to be written by TPR
Lack of innovation for solutions
Some 2,000 consumers affected