ISA sales soared 25% in 2006/7 despite rumours of their apparent unpopularity, according to research from the Investment Management Association.
The IMA says net ISA sales during that 12 months were £2.5bn, up £500m from the previous year. Richard Saunders, IMA chief executive, says: “The ISA season saw inflows of just under £1bn, an increase of 7% on the previous season. “With net sales of £2.5bn for the tax year as a whole, there was a 25% recovery from 2005/6. Although ISA sales are still some way down from their peak, they do appear to be moving in a positive direction.” The most popular sector during the season was UK All Companies, which accounted for almost a quarter of gross inflows, at 24%. Fund supermarkets grabbed...
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