2004 sees Isas fall into negative for first time since 1999

Isas had a turbulent 2004 with net sales going into negative territory for the first time since they...

Isas had a turbulent 2004 with net sales going into negative territory for the first time since they were introduced in 1999 and falling 42% from 2003's figures. According to the IMA's latest statistics, 2004 ended with investment funds under management showing a 3% increase from November and a 14% rise from December 2003. This despite the fact that December 2004 was a slow month, with total net sales down by a quarter on December 2003 and net retail sales of £279m some 69% down on the previous year. Richard Saunders, chief executive of the IMA, noted: "Last year saw a marked decline in...