ISA season strongest for eight years

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This year's ISA season was the strongest since 2002 with Q1 the best ever for net retail sales, according to IMA figures.

Assets under management in UK domiciled funds broke the £500bn barrier for the first time ever with a strong boost from ISA sales. The 2009-2010 tax year was the best for ISA sales since 2001-2002, as investors put £3.5bn into the tax efficient wrappers. ISA money now accounts for around 20% of all authorised FUM. Bonds supplanted equities as the best selling asset class in March as investors rotated into safe haven areas.  The month saw total net retail sales of £1.8bn, which is the highest level for this month since 2006 and the fourth highest March on record. Fixed income fun...

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