Cautious advisers are still not ready to commit to the market with cash remaining the most popular destination for client money, new statistics suggest.
Hargreaves Lansdown’s Vantage supermarket figures show cash is currently the number one regular savings investment for SIPP investors and number three for ISA regular savers.
It follows Fidelity FundsNetwork’s statistics released earlier this week which revealed its Cash Park was the ISA best seller in April, while the most popular vehicle on the SIPP side was the Fidelity Cash fund.
Hargreaves says its Vantage clients are keen to utilise annual pension and ISA allowances, but may be nervous of current market conditions.
The Vantage top ten also included the popular Invesco Perpetual UK Equity Pension fund, JPM Natural Resources, Jupiter Emerging European Opportunities, Artemis Global Growth and BlackRock Gold & General vehicles.
“For those who are nervous of current market conditions, but who want to use their annual allowances and invest at a later date, regular saving into cash is a short term solution,” Vantage development head Ben Lundie says.
FundsNetwork head David Dalton-Brown says while the domestic market remains popular, advisers are retaining their current cautious stance.
“ISA investors in particular continued to hedge their bets by making use of our ISA cash park to buy themselves more time to decide on their investment choice for the new tax year,” he says.IFAonline
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