Saunders reveals cause of drop in net Isa sales

Increased flows into cash Isas is a key reason behind net sales of the stocks and shares version fal...

Increased flows into cash Isas is a key reason behind net sales of the stocks and shares version falling to their lowest level since the wrapper was introduced in 1999, according to the IMA's chief executive Richard Saunders. Despite improved stock market performance, the £1.8bn that went into Isas last year represented a 10% decrease on 2004. Saunders said one reason for this is that lower net worth investors are increasingly looking for the security of cash-based investments. "There have been lower inflows to stocks and shares Isas because some smaller savers are not ready to go back ...