The rush to meet annual ISA allowances will be as busy as ever despite the current market volatility, with Cautious Managed vehicles again likely to be the best selling, according to Prudential.
Analysis of industry data shows that, this time last year, 17% of stocks and shares ISA sales occurred between 1 and 5 April, with 38% between 1 March and 5 April. The corresponding figures for the tax year prior to that were 16% and 44% respectively.
In addition, Prudential says the Cautious Managed sector is by far the best-selling among the 30 classified by the Investment Management Association (IMA), followed by the Global Growth and UK Money Market sectors.
Gary Shaughnessy, managing director of Prudential Retail Life & Pensions, says: “There are many options open to investors when it comes to using their ISA allowance and if they are nervous about having too much exposure to equities, they can opt for funds that invest in a more diversified range of assets including cash, bonds, property and also equities.
“This is what cautious managed funds do and this helps explain why they are so popular with investors at the moment.”
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