Dec 6 2005
The purchases of investment trust ISAs in the 3rd quarter 2005 increased by 20 per cent from the 3rd quarter 2004, according to new research.
The study from the Association of Investment Trust Companies (AITC) found that the total purchases of ISAs in the 3rd quarter 2005 had risen to £10.6 million from £8.8 million in the same period in 2004.
Most popular amongst ISA purchases in September was the Global Growth investment trust sector with 25 per cent, followed by the UK Growth and Income sector with 11 per cent and the Europe sector with ten per cent.
Eighteen per cent of people chose to make their ISA purchases through a financial adviser. The average amount for investment in an ISA was £154 per month, whilst the average lump sum investment was £2,893.
Daniel Godfrey, AITC spokesman, said: "These results show the relative attractions of tax-efficient ISAs.
"The treasury's recent decision to maintain the current regulatory structure of investment trusts gives us stability which is also reflected in the very low level of discounts.
"I feel very positive that more private investors will discover the many advantages that the industry has to offer."
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