For Immediate Release: Wednesday 31 May 2000
39% OF INVESTMENT FUND ISAs IN REGULAR SAVINGS PLANS
The latest quarterly figures show that regular savings plans
are slowly growing in popularity again. There are now over
1.7 million monthly savings plans investing in unit trusts
and OEICs. However, there is still some way to go before they
match the previous, pre-ISA high. Over 2 million plans were
in use by regular savers at the end of March 1999, but this
figure had tumbled to below 1.5 million by the end of September
last year.
During the first three months of this year, £446m of investment
fund sales were made through new and existing monthly savings
plans, £386m through ISAs. There are currently 1.4 million
regular ISA savings plans compared to the 1.8 million monthly
PEP plans in March last year. Out of a total of 3.6m investment
fund ISAs, over one third (1.4m) are through contributions
into regular savings plans.
Anne McMeehan, Director of Communications, said:
"Obviously we’re very pleased to see an improvement
in the number of monthly ISA plans. But as this route is
the most likely for new investors, it’s disappointing that
growth has not been more dramatic. People should not be
put off by current market volatility. If anything, this
is likely to play to their advantage if they are investing
over the long term in a regular plan."
Regular Savings Plans: Q1 2000 (1st January 2000 to
31st March 2000)
|
|
Q1 99
|
Q2 99
|
Q3 99
|
Q4 99
|
Q1 2000
|
| PEP/ISA |
1,759,588
|
1,342,113
|
1,165,696
|
1,340,003
|
1,408,040
|
|
Non-PEP/ISA |
256,867
|
298,615
|
321,891
|
274,382
|
294,794
|
|
Total |
2,016,455
|
1,640,728
|
1,487,587
|
1,614,385
|
1,702,834
|
Sales: £mn
|
|
Q1 99
|
Q2 99
|
Q3 99
|
Q4 99
|
Q1 2000
|
|
PEP/ISA |
£431.0
|
£243.6
|
£321.3
|
£351.3
|
£386.3
|
|
Non-PEP/ISA |
£84.3
|
£70.6
|
£60.4
|
£54.8
|
£60.1
|
|
Total |
£515.3
|
£314.2
|
£381.7
|
£406.2
|
£446.4
|
Note: Figures represent totals for the quarter, not monthly
totals within the quarter.
For further information please contact:
Anne McMeehan, Director of Communications,
AUTIF - +44 (0)20 7831 0898
Michael Quach, Head of Statistics, AUTIF - +44 (0)20 7831 0898
Clare Arber, PR Manager, AUTIF - +44 (0)20 7831 0898
|
