Equity nerves hit ISA sales - papers 31st January

According to the paper, the latest investment fund statistics report from the Investment Management Association (IMA) showed net ISA sales fell to £1.8bn last year, the lowest level since the plans were introduced in 1999, but at the same time net retail sales rose to £8.5bn, to their highest level since 2001. A spokeswoman for the IMA said investors have continued to be nervous about getting back into equities after three years of falling stock markets. The gradual erosion of the tax incentives within ISAs was another reason given for holding back sales.The IMA spokeswoman told the p...