2005 Isa season sees slow start

Although it is the first time net Isa sales have fallen in four months, it is not a good start to the traditional Isa push – ahead of the end of tax year – as sales fell 58% to stand at just £38.9m in January this year compared with £92.8m in December and £184.4m in January last year. Similarly, net retail sales are suffering too and have fallen 39% in January to 169.7m, compared with £279.3m in December and £554.1m in January 2004. That said, the bulk of gross retail investments sales was conducted by independent intermediaries who sold 78% of business. Tied agents and sales force...