UK: ISA providers in difficulty
Article Abstract:
In October 2001, net sales of individual savings accounts (Isas) in the UK were GBu 286mn, versus GBu 633mn in October 2000, according to the Association of Unit Trusts & Investment Funds. There is concern that the season will be the worst ever for Isas as a result of volatility in the markets and terrorists attacks in the US on 11 September 2001. In September 2001 Isa sales were GBu 235mn, and repurchases were GBu 140mn, versus repurchases of GBu 99mn in October 2001. Overall retail sales in October 2001 were GBu 1.9bn, up by GBu 300mn from September 2001, but down over one third from GBu 2.9bn in October 2000.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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M&S clients pick unit trust as favoured ISA investment option
Article Abstract:
Just 7% of UK investors are not interested in taking out an individual savings account, the UK government's planned new tax-free savings vehicle. This is according to a survey by Marks & Spencers Financial Services of its customers, which also found that interest in ISA accounts were shown by 70%. Of those interested in ISA's 69% plan to use it to invest in unit trusts, while 54% preferred cash. In terms of distribution 78% wanted to buy an ISA via post and 46% wanted to buy via the phone.
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UK: Just 7% of UK investors are not interested in taking out individual savings account, govt's new tax-free savings vehicle
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 1998
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UK: Merrill launches Global Growth PiP
Article Abstract:
Merrill Lynch HSBC has introduced its Global Growth Protected Income Product (PiP) linked to several stock market indices, including the FTSE 100, the Dow Jones Eurostoxx 50 and the Nikkei 225. The product has a GBu 5,000 minimum investment and guarantees capital if held for three years. It can be used to reinvest maturing Tessa cash or as an independent investment. One criticism of the product is its 25% exposure to the Japanese stock market.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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