Isa repurchases slowing

UK corporate bonds one of the most successful sectors, accounting for 19% of all isa sales

Isa repurchases slowed marginally during May compared to the previous month, according to the latest fund sales data provided by the IMA. Some £175.1m of repurchases took place in May, compared to £181m in April and just over £100m in May 2001. Coupled with the upward trend in redemptions, which reflects the continued struggles of world stock markets, one the most successful sectors was UK corporate bond funds. This sector accounted for 19% of all Isa sales, showing a 3% increase in share on the previous month. Despite this, gross retail sales were up on last year, with some £2.789b...