Isa sales suffer net outflow for first time since launch in 1999

Isa sales suffered a net outflow for the first time since the wrapper launched in April 1999, IMA st...

Isa sales suffered a net outflow for the first time since the wrapper launched in April 1999, IMA statistics for September 2004 reveal. The net outflow of £23.5m followed the lowest recorded inflow of £25m in August. The Isa figures also include part of the £37m net outflow from the UK All Companies sector in September. Despite falls in Isa sales, however, overall funds under management grew 2% over the month to the highest level since May 2001. Total net sales over September were up 14% from August but 18% below September 2003. Over the third quarter, net retail sales of £418m were 6...