Net Isa sales at lowest level since onset

Net Isa sales fell to the lowest level since the wrappers were introduced, even though sales of inve...

Net Isa sales fell to the lowest level since the wrappers were introduced, even though sales of investment funds improved from levels seen the previous year, according to IMA figures. Pointing to strong stock market performance as a reason for the increase in sales, the IMA's chief executive, Richard Saunders, said the £1.8bn that went into Isas last year was the lowest level recorded since 1999 and represented a 10% decrease on 2004's figure. Saunders said: "During 2005 investors returned to the stock market with net retail sales gathering momentum through the year and reaching their hi...