Isa sales for year at £6.9bn

ima figures show gross isa sales down £3bn for this tax year compared to preceeding one

Isa sales of £420m between 1 April and 5 April brought total gross Isa sales to £6.9bn in the 2001/02 tax year. These IMA figures compare to £9.9bn of gross Isa sales in the preceeding year. The trade body's March sales figures show gross Isa sales for the month were £992m, down on the £1.3bn figure for the same month last year. In total, however, £4.7bn flowed into investment funds in March through wrapped and unwrapped sales, seeing funds under management in the sector jump to £242bn. That level of assets held at the end of March was still lower than at the end of March 2001 when t...