Savers returning to ISA product
Nearly 32% of equity ISA investors plan to put in the maximum amount of £10,200 into their funds for the current tax year, according to the Investment Management Association.
The Investor Perspectives Survey shows a strong feeling in favour of equity ISA investing, as nearly 70% of people interviewed claim it is important to top up an ISA each year.
Families with young children and those aged 35-54 are the two groups most in favour of the investment, with more than three quarters of each saying believing it important to take an equity ISA out irrespective of how much money is put into it.
A total of 43% of UK investors said they would invest in an equity ISA, while just 33% said they would put money into fixed income ISAs.
The IMA said that retail investors had ploughed £2.7 billion into ISAs from April 2010 to January 31 2011, just behind £2.9 billion invested in the previous corresponding period.
Net sales for ISAs reached £7.2 billion in 2009 and 2010, the best two-year period for the product since 2000-2001.
IMA chief executive Richard Saunders said: "The ISA remains an extremely popular product with savers, providing the ability to invest tax-free for the future."
Copyright © Press Association 2011