Isa sales dip 18% in August

Net Isa sales were down 18% for August 2002 compared to those in August 2001, according to the lates...

Net Isa sales were down 18% for August 2002 compared to those in August 2001, according to the latest statistics from the IMA. August is traditionally considered the quietest month of the year and this was reflected with net Isa sales totalling £272.8m, compared to sales of £331.4m in August last year and £284.4m last month. Total funds under management has also fallen 13.5%, dropping from £239.5bn in August last year to £207.2bn in August this year. Gross retail sales were marginally up on last August's figures, rising from £2.02bn to £2.06bn, but total gross sales were down to £3.4...