Total gross ISA sales were more than £1.5bn for the tax year 2005/2006 - a 47 per cent increase on last year's sales, figures from Fidelity FundsNetwork reveal.
Fidelity says total gross ISA season sales (1st January – 5th April 2006) via all distribution channels amounted to £655m, an increase of 55%on last year over the same period.
It also says the fund choice for ISAs has changed considerably as investors and advisers have looked to diversify portfolios with specialist funds in areas such as property
Richard Wastcoat, UK managing director at Fidelity International, says the rise in sales this year is a clear signal investors and advisers have renewed confidence in the stock market.
“An interesting change this ISA season has been the shift in fund choice from UK All Companies to the Specialist sector. Our experience shows that commercial property funds are becoming increasingly popular, demonstrating that investors and advisers are keen to diversify portfolios. It will be interesting to see whether this trend towards specialist funds continues over the coming year, or if the UK All Companies sector will regain its previous position as No1 choice for ISAs,” adds Wastcoat.
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