Nervous investors flock to Cofunds cash haven

Designed as a haven to hold cash inside a Stocks and Shares ISA pending a suitable investment opportunity, Cofunds says its Cash Reserve facility has seen “substantial flows of money” in the last two months. The Cash Reserve has topped gross sales in both January and February, whether held inside or outside an ISA wrapper. Cofunds marketing and proposition director Alastair Conway says market volatility is clearly unsettling investors. “We are still in substantial net sales on every tax wrap, but volumes are, unsurprisingly, somewhat down on 2007 - except for SIPPs,” he says. “In t...