* Adjusted to take account of sales through fund supermarkets [1] 2002 figures not adjusted to take account of sales through fund supermarkets A third of investors bought an ISA
‘direct’ in March, the highest level seen from this
channel. It appears that a significant amount of these sales was
invested in tracker funds.
A further 42% of ISAs were bought through IFAs, with
sales forces and tied agents being responsible for 25% of
sales. Overall,
funds in the Corporate Bond and Equity Income sectors took a
larger share of sales in March than in either February 2002
or March last year, whilst the Europe ex UK sector took
proportionately less. Clare Arber, Head of Communications at
the IMA, commented:
“It’s
encouraging to see that levels of investment by private
individuals continue to rise.
Some buyers chose to make the most of their ISA
allowance, leaving their decision to the last minute.
But others seem to have used the end of the tax year
as a prompt to make further use of investment funds for
their long-term savings.
These investors appear keen to benefit from the lower
prices that the stockmarket currently offers.
“The
figures also show the impact that fund supermarkets have
made in just one year.
It is clear that an increasing number of investors
and their advisers find the convenience of buying through a
fund supermarket suits them.” Regular savings The number of regular savings plans
grew to just under two million during the first three months
of this year, after a decline in the two previous quarters,
but contribution levels fell again to £531 million a
quarter.
Regular
Savings Plans: Q1 2002 (1st January 2002 to 31st
March 2002)
Sales
Note:
Figures
represent totals for the quarter, not monthly totals within
the quarter. Summary table: March – Unit Trust, ISA and PEP data*
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