With just over a week to go before the ISA tax deadline, discount broker Willis Owen predicts that as much as £1.5 billion in last-minute investments could be made in the final few days leading up to ‘Funds Friday’, 5 April.*

Jason Chapman, Managing Director at Willis Owen, commented:
“We are expecting a frenzied final few days in the run up to this year’s ‘Funds Friday’, as ISA investors look to make the most of their allowance. We are already seeing a flurry of money flowing into emerging markets funds, which suggests some investors are being a bit more adventurous in the search for income. Traditionally though, income funds have always proved top sellers over the final few days in previous years, and we expect the same this time round.

“Interestingly, we also anticipate a boost in interest in our Cash Reserve facility. Customers want to secure as much of their allowance as possible before time runs out, but aren’t immediately sure where to invest it. By parking it in the Reserve, they can rest assured they have secured their investments for now, and then decide where it will go in the coming weeks.

“More and more people are choosing to invest directly via a discount broker and benefit from the savings it brings. And we know many will be active right up until next week’s Funds Friday deadline. We will be accepting online applications right up until 11.30pm on Friday, and phone-based investments up until 7pm. But to make sure investors secure their ISA allowance in time, and don’t fall foul of any potential administration problems, we recommend they act now and don’t risk leaving it until the last minute.”

Pound Coins by Ian Britton - FreeFoto.com

Pound Coins by Ian Britton – FreeFoto.com

Key facts about Willis Owen services:
• Access to over 1500 funds from all the major investment houses
• Ability to invest within an ISA wrapper, a Unit Trust or an Open Ended Investment Company
• Standard Initial charges generally between 0 and 0.5% – more than half of the funds have 0% initial charge
• Free ISA transfer service
• Free investment check-up service
• Access to an ISA Cash Reserve fund to park your money before you invest
• Annual ISA guide
• Fund Space, a free online tool allowing investors to compare fund information and performance
• Investor Support Desk where you can speak to a real person not a computer, for friendly, helpful guidance 24 hours a day, seven days a week

For more information visit www.willisowen.com

* Based on previous ISA seasons, Willis Owen expects to see at least 10% of its yearly ISA sales completed during the final week of this tax year. If that is replicated nationally, and based on IMA statistics showing that ISA sales totalled roughly £15 billion over each of the last two tax years, around £1.5bn will be invested next week.

Comment Here!