Net Isa sales for February down 31% on last year

Net Isa sales for February made up 16% of the month's total retail sales and were more than double t...

Net Isa sales for February made up 16% of the month's total retail sales and were more than double the level of January, according to statistics from the IMA. However, at £85.6m they were down £123.9m on the same period last year. Total investment funds under management amounted to £285bn in February, which was an increase of over 2.6% on January and 16% on February 2004. Isas made up 13.5% of funds under management, the same level as in January, which was a slight increase from the 13% they made up during February last year. Looking at gross Isa sales in terms of sectors, UK All Compani...