With less than two weeks to go until the end of the tax year, discount broker Willis Owen has reported a 25% increase in ISA sales so far in 2014 compared to the same period in 2013. According to Willis Owen this has been driven by strong consumer appetite for income seeking funds, which dominate their best sellers list.

Jason Chapman, Managing Director at Willis Owen, commented:

"ISAs are emerging as a real success story, and more and more people are choosing to invest via a discount broker and benefit from the ability to build and track their own portfolios. We've seen a surge in sales so far this year and with the New ISA coming this July, with its £15,000 annual limit and improved flexibility to hold both cash and shares, we expect to see ISAs grow in popularity even further.

"Before then, though, there is still time for people looking to make the most of their allowance for this year – but it's running out fast. ISAs are one of the few remaining tax breaks open to all, and we urge people to use it before the door shuts for another year."

Income seeking funds make up most of Willis Owen's best-selling funds so far in 2014, with the Royal London Corporate Bond M Fund the single biggest seller.

Jason Chapman added:

Investing - FreeFoto.com

Investing – FreeFoto.com

"There's no doubt that seeking income has been the name of the game for our customers this year. Our top selling sector is UK Equity Income and nearly all our top selling funds are geared to providing long-term income.

"The Invesco Perpetual Income and High Income funds still feature pretty highly, albeit not in our top five. So while there may have been a 'Woodford effect' of sorts, investors certainly aren't leaving them in droves."

Willis Owen's top-selling funds so far in 2014

1. Royal London Corporate Bond M Fund

2. Jupiter Merlin Balanced Portfolio I Fund

3. Legal & General Dynamic Bond I Trust

4. Artemis Income I Fund

5. Fidelity MoneyBuilder Dividend Y Fund

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