Third of intermediaries seeing Isa sales halved

Some 34% of intermediaries polled by the AITC and IFA Promotion claim to have seen a 50% reduction i...

Some 34% of intermediaries polled by the AITC and IFA Promotion claim to have seen a 50% reduction in Isa sales during the 2002/3 tax year. In terms of asset allocation, 33% of respondents favoured gilt and bond funds for clients, 28% recommended equity income while only 13% suggested equity growth funds. Of those clients still investing in the stock market, some 64% have been sticking to UK funds, according to the poll of 150 IFA Promotion members on 28 March.