Jan 29 2007
The Investments Management Association (IMA) has published its statistics for sales of individual savings accounts (Isas) during December and full-year statistics for 2006.
It recorded total net Isa sales of £2.5 billion during 2006, an increase from an all-time low of £1.8 billion, while net sales for December reached £107 million, compared to £127 million a year previous.
"2006 saw investors returning to investment funds at levels not seen since the record year of 2000," the association comments.
"This, coupled with a year-on-year stock market increase of 11 per cent in the UK alone, saw funds under management of investment fund reach record highs of £410 billion," it added.
The IMA reported that fund supermarkets become the dominant distributor for Isas for the first time during 2006, representing 38 per cent of gross Isa business during the year.
Earlier this month, Resolution Asset Management removed the deferred redemption terms of its UK Property Fund, enabling Isa investors to invest in the fund.
