This year’s ISA season has claimed a nine-year record, according to the Investment Management Association, with net sales of £956 million between 1st March and 5th April 2011.
Equity funds remained the top choice for retail investors, having done so over the last five months.
According to the Association’s director of markets, Jane Lowe, the last two tax years have together seen a big jump in ISA inflows, to more than £7.5 billion, alongside two increases in the annual allowance (October 2009 and April 2010).
The research also reveals that 2010/2011 saw the second-best ISA sales in a decade, with net sales of £3.7 billion.
As a result, ISAs currently make up 18% of all authorised funds under management in the UK.