Net Isa sales 67% down in August

Net Isa sales of investment funds were down for the fourth month in a row in August, falling some 67...

Net Isa sales of investment funds were down for the fourth month in a row in August, falling some 67% compared to July figures, according to IMA statistics. In August, net Isa sales fell to £24.8m compared to the £76.5m of sales in July 2004. The fall is even more stark compared with the £235m sales figure recorded in August last year. According to the IMA, while net sales are lower across the board, Isa sales have been particularly affected by redemptions having more than doubled since August last year. Richard Saunders, chief executive of the IMA, said: "Although August is traditio...