People paid £1.5bn into Individual Savings Accounts (ISAs) in April4; this constitutes the highest level of April inflows in over six years. During the month, people invested £78m more into ISAs than over the entire previous 12-month period.
Chief Executive of The Investment Association, Chris Cummings, commented about growing investor confidence in the UK as the country emerges from the pandemic, “Savers have once again shown the appeal of ISAs in helping to get into the savings habit and build up a retirement nest egg. Comparing the strong ISA flows this April to the year before shows investors have been moving money into funds to make the most of tax incentivised savings and to deliver better returns amidst low interest rates on cash savings.”
He also noted, “Rising inflows to more domestically-focused UK Smaller Companies funds shows investors are increasingly positive that the post-Brexit UK economy will grow strongly as it opens up. In another strong month for responsible investment funds, savers invested £1.6bn, taking the total inflows to £13.5bn over the last year – representing 30% of flows into funds.”
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For advice on maximising your savings in a low interest environment, get in touch. 4The Investment Association, 2021
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