After an ISA season last year the IMA described as the worst on record and forecasts of another poor period in 2008/9, figures for March show investors returned in their droves to the tax-efficient savings option.
Net sales of UK domiciled ISAs were £321m in March, it says, an increase on February's outflows of £112.5m and a huge advance on the £47.5m inflow in March 2008. In total the 2008/09 tax year saw net ISA outflows of £975m, which compares favourably with the £1.7bn outflows seen in the 2007/08 tax year. The 2008/09 ISA season saw encouraging inflows up 74% year on year, with total inflows of £529.1m, while the most popular sector in the latest financial year was UK All Companies, which accounted for 21% of gross sales. Outside of ISAs, Corporate Bonds maintained its position as the num...
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