Cash Isa sales beat other asset classes at Skandia

Cash was the best-selling asset class among Skandia Isa investors for the first time in March. Sal...

Cash was the best-selling asset class among Skandia Isa investors for the first time in March. Sales into cash outstripped those into any individual fund, reflecting the mood of the market, moving up from being the seventh most popular investment choice in February. Ian Thomas, investment marketing manager at Skandia, said this risk aversion was reflected in the group's Isa sales figures for the first quarter of 2003, which were 32% down year on year. Skandia pulled in £55m gross in the first three months of the 2003 compared to £89m in the same period last year. Its protected mu...