Demand for ITs and Isas falls

IT saving scheme purchases down 10% over the year and isa sales fall 24% over same period

Sales of investment trust savings schemes and Isas have continued to fall as investor confidence in the sector and in markets generally remains under pressure. The total purchases of investment trust saving schemes in the third quarter of 2002 decreased 10% to £50.54m from £55.90m during the same period in 2001, according to figures from the AITC. Investment trust saving scheme purchases were also down 14% compared to the second quarter of 2002, when sales totalled £58.54m. Isa purchases through investment trusts and their managers decreased 24% to £13.44m in the third quarter compa...