Fidelity International Isas top £1.5bn

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Fidelity International Isas top £1.5bn

Sales of Fidelity International Isas increased by 47 per cent last year, bringing its total gross Isa sales to over £1.5 billion for the 2005-06 tax year.

The group's FundsNetwork platform has also announced today that its assets under custody have now surpassed £7.5 billion, having achieved Isa season sales 57 per cent up on last year.

Some £12 million in investments was taken in Fidelity International Isas and FundsNetwork products on April 5th alone this year as customers waited until the last minute before investing prior to the tax-year deadline.

"The rise in sales this year is a clear signal that investors and advisers have rediscovered their confidence in the stock market and the tax-efficient benefits that Isas offer," said Richard Wastcoat, UK managing director of Fidelity International.

He added that the flexibility and functionality offered on the FundsNetwork platform made it "an extremely compelling proposition".

A number of funds are available for investment through Fidelity International Isas, including a UK Equity Income fund, a UK All Companies option and a UK Corporate Bond fund.