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I S A Sales Up 47%

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Fidelity ISA sales jump 47 percent

Tue Apr 25, 2006 8:57 AM BST

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By Tim Sharp

LONDON (Citywire) - ISA sales at Fidelity increased
47 percent
in the last tax year with its supermarket arm FundsNetwork boasting sales up 57 percent to take it to assets under custody of 7.5 billion pounds.
Although the group will not reveal what its net sales figures are, gross numbers show that Fidelity International sold 1.5 billion pounds of ISA-wrapped funds over the 2005/06 tax year.
The last few weeks were particularly buoyant with gross sales from January 1 to April 5 of 655 million pounds, an increase of 55 percent over the same period in 2005.
Richard Wastcoat, UK managing director at Fidelity International, said:
"The rise in sales this year is a clear signal that investors and advisers have rediscovered their confidence in the stockmarket."
Demand for commercial property funds meant the Specialist sector toppled UK All Companies as the most popular class.

Is this a case of money chasing ever higher returns (BTL income is falling according to latest reports) with a stock bubble next? Is this the scenario that would cause Warren Buffet to advise NOT followng the Herd. Time to get out?

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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