Isa sales have dropped off since the end of the tax year, but the value of Isa assets under management has risen - suggesting the concept of an Isa season still exists, based on the latest IMA statistics.
Total net retail Isa sales fell 8% in April compared with March 2006 to £622m, says the Investment Management Association, but this is still 6% up April 2005 and the value of Isa funds under management is 3% higher than in March and 29% up on April last year. The funds inflow still appears to be heading for UK All Companies funds, as 20% of gross retail sales flowed in this sector, favoured in particular by financial intermediaries. That said, the bulk of Isa sales - £529m – came through sales forces and tied agents while fund supermarkets accounted for £490m in sales. Elsewhere, the ...
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