Investment service provider Willis Owen has responded to the latest figures from the Investment Association, showing that net ISA fund sales in April 2015 reached £1.4 billion – up £200 million on April 2014.
Jason Chapman, Managing Director at Willis Owen, commented:
"April is always a busy month for ISA sales, with the end-of-financial-year rush still accounting for a sizeable chunk of annual activity. We saw nearly a quarter of our yearly sales come in the week up to April 5. The national increase on April last year is a big thumbs up for the increased annual tax-free limit, but it's also a major vote of confidence for ISAs more broadly.
"As pensions undergo substantial reform, ISAs remain simple and available to everyone. We know that for many of our customers, ISAs are held in high regard as a long-term vehicle to build wealth for retirement."
UK Equity Income was the best-selling sector at Willis Owen in April – a pattern mirrored nationwide. Its top selling fund remained the CF Woodward Equity Income C Fund, but its cash reserve facility also proved a popular purchase.
Jason Chapman added: "Retail investors are keen to make the most of their tax-free ISA allowance but value being able to delay a decision on where to invest the money. With the prospect of a referendum on the UK's membership of the EU now a real one, we expect our cash reserve to remain popular as uncertain customers make the most of the buffer the facility offers."
Willis Owen's top selling funds – April 2015
- CF Woodward Equity Income C Fund
- Cash Reserve
- Threadneedle High Yield Bond Z Fund
- Jupiter Merlin Balanced Portfolio I Fund
- Jupiter Income I Trust
Willis Owen's top selling sectors – April 2015
- UK Equity Income
- UK All Companies
- £ High Yield
- Cash Reserve
- Mixed Investment 40-85% Shares