Sales of Isas and Peps fall 96% over the year

Net sales of Peps, Isas and unit trusts were down 96% in September 2001 compared to the same month l...

Net sales of Peps, Isas and unit trusts were down 96% in September 2001 compared to the same month last year. Total net investment funds sales of £92.2m were 92% down on the £1.1bn recorded in September 2000, and net Isa sales were down 62% from £617m to £235.8m over the same period. This is most probably the worst drop in sales the industry as a whole has experienced. Clare Arber, head of communications at Autif, said: 'Whereas previously it was more of a case of consumers not understanding the potential for investing in times of low market values and economic slowdown, now it is on...