Isa sales improved ahead of tax year end

Latest data from the Investment Management Association reveals net retail sales grew 42% in February 2004 to £716.7m compared with £505.1m in January, and were over three times more than £228m of net retail sales in February 2003. There was one surprising anomaly as a single transaction worth around £1.9bn had a major impact on net institutional sales and sent figures shooting into the red. However, there was a small recovery in the Isa market, as Isa funds now stand at £32.1bn thanks to net sales worth £209.5m in February 2004 - Isa repurchases climbed to £222.3m – which is £26m more...