ISA season strongest for eight years

Assets under management in UK domiciled funds broke the £500bn barrier for the first time ever with a strong boost from ISA sales. The 2009-2010 tax year was the best for ISA sales since 2001-2002, as investors put £3.5bn into the tax efficient wrappers. ISA money now accounts for around 20% of all authorised FUM. Bonds supplanted equities as the best selling asset class in March as investors rotated into safe haven areas.  The month saw total net retail sales of £1.8bn, which is the highest level for this month since 2006 and the fourth highest March on record. Fixed income fun...