The flight to safety which began in mid-September last year has now come to an end, according to the government-backed National Savings and Investments(NS&I).
The year to 31 March 2009 was a bumper year for the provider as investors flocked to a perceived safe haven in times of economic uncertainty. All NS&I products offer 100% capital security as NS&I is backed by HM Treasury. Gross inflows for NS&I over the year rose to £26bn, up from £15.5bn in 2007-8. Net financing (or the measure of the net change of NS&I funds) was £12.5bn, more than double the £5.9bn reported the previous year. However, over Q1 for the year 2009-10, gross inflows dropped to £3.2bn compared to £4bn for the same period in 2008-9. Gross outflows were £4.5bn, up from £3....
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
