Economics: Net Isa sales plunge for November - IMA

The latest IMA statistics reveal a plunge in net Isa sales for November 2006. Net Isa sales fell...

The latest IMA statistics reveal a plunge in net Isa sales for November 2006. Net Isa sales fell to -£3.12m for November 2006, a sharp drop compared to sales of £83m for October 2006, and down by £82m compared to November 2005. Sheila Nichol, deputy chief executive at the IMA, said sales of investment funds had dipped to the lowest level for four months in November. Despite this, net retail sales for 2006 are on track for a record year, she said. Jason Hollands, head of communications at F&C Asset Management, said it is ironic that Isa sales fell in the same month the Government annou...