Over £2 billion invested in ISAs via funds in the last tax year

• ISA net sales through funds of £2.3 billion for tax year 2013/14 – over £1 billion more than 2012/13 tax year
• £358 million of net retail ISA sales via funds in the last five days of the tax year
• Funds under management hit record high of £784 billion in March
• Net retail sales in March were £2.3 billion
• Equity was the best-selling asset class in March with net retail sales of £952 million – 10 times higher than this time last year
• Mixed Investment 20-60% Shares was the top selling IMA sector with net retail sales of £285 million in March

Daniel Godfrey, IMA Chief Executive, said:

“Once again, there was a last minute rush into ISAs at the end of the tax year with £358 million invested in the first five days of April alone. Although this is very encouraging and it is well known that there is nothing like a deadline for a tax break to prompt action, investors need to be aware that you can invest into ISAs on a monthly basis and that doing so reduces the risk of getting your timing wrong.

“Overall fund net retail sales in March were at £2.3 billion, exceeding February’s levels by more than £400 million. This demonstrates consistent retail appetite for investment funds. The sector rankings show strong sales across a wide range of asset classes, but equity funds with an income bias remained popular.”