Net Isa sales record a 58% drop for June

Net Isa sales for June 2004 fell some 58% compared to the same month last year, leading some comment...

Net Isa sales for June 2004 fell some 58% compared to the same month last year, leading some commentators to suggest the Isa market is stagnating. According to statistics from the IMA, compared to June last year, when net Isa sales of £293.6m were recorded, in June 2004, sales dropped to just £123.2m, representing a fall of 26% from May. Jason Hollands, marketing director at Isis Asset Management, said while in part this represents investor uncertainty about the equity market, the impact of the Government's attitude to Isas is discouraging people from investing in them. He said: "In June...