“Strong” ISA season for UK

Big BenThe UK saw net retail sales of £2.4bn (€2.69bn) in April – half of which were sales of ISA funds.

"April’s statistics reflect a strong 2011 ISA season, with ISAs accounting for about half the £2.4bn investors added to their holdings,” said Richard Saunders, chief executive at the Investment Management Association (IMA).

Fund platforms reported their highest gross ISA sales on record in April, at £1.3bn.

Equity fund sales surpassed the £1 billion mark twice in the past twelve months

Strategic bond funds was the highest selling sector in April – the fourth month running.

©2011 funds europe