INVESTMENT company ISA purchases plummeted 60pc from £27.57m in the second quarter of this year to approximately £11m in the third quarter, according to the Association of Investment Companies (AIC).
The total purchases of investment company saving schemes through investment companies and their managers also fell in the third quarter of 2006 to £33.40m compared to £34.75m in the third quarter of 2005. Meanwhile, investment company saving scheme purchases decreased 19pc in the third quarter from £41.08m in the second quarter of 2006. However, positive news came from the fact total purchase of investment company ISAs through investment companies and their managers rose to £10.93m in the third quarter of 2006, compared to £10.63m for the same period last year. In terms of secto...
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