UK Money News
11th March 2008
Share Centre: ISA take-up rose 60% this year
Investors flocked to Individual Savings Accounts (ISAs) during the first two months of this year, new data suggests.
Retail stockbroker The Share Centre has reported a 60 per cent rise in the number of ISA's opened during January and February compared with the same period in 2007.
The firm's new Funds ISA proved particularly attractive to savers and accounted for 36 per cent of all ISA's opened during the period.
Ian Benning, product development manager at The Share Centre, attributed the growth in demand to investors seeking security for their money at a time of a marked downturn in the financial markets.
He said: "Stocks and shares ISA's are a great way for investors to protect some of their stock market profits from the taxman.
"The credit crunch and recent market fluctuations will have no doubt left some investors wary of investing in the stock market."
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