Isa sales fall on previous year's figure

Net Isa sales for the tax year 2003/4 were some 12% lower than the previous year, according to recen...

Net Isa sales for the tax year 2003/4 were some 12% lower than the previous year, according to recent figures from the IMA. Helped by net sales of £247m in the first five days of April, net Isa sales for the whole tax year were £3.6bn, compared with £4.1bn in 2002/3. However, net retail sales of £852m in April 2004 were 13% higher than those recorded in March and 15% higher than in April last year. This brought the first quarter's net retail figures to £2.1bn, a 74% increase on the first quarter of 2003. Intermediaries remained the most popular distribution channel, with 67% of gross ret...