Legal & General banking highlights impact of Isa allowance change
www.moneynews.co.uk > Banking > Legal & General banking highlights impact of Isa allowance change
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Money News |
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Legal & General banking highlights impact of Isa allowance change
Fri 7th May 2010
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Simon Ellis, managing director of the firm's Investment arm, stated that retail investors have been enticed to put their money into stocks and shares Isas as a result of the change.
He made these comments following the news that Legal & General Investments recorded a record rise in sales in the first quarter of 2010, with retail fund investment up 92 per cent compared to the previous year to more than £1 billion.
Mr Ellis explained: "Our retail sales have been boosted by improved investor confidence as markets recovered and strong inflows in our strategic bond offering, Dynamic Bond Trust."
The firms noted that Isa sales went up by 51 per cent during the same period, with the Legal & General UK Index Trust proving to be the top selling fund in this category for the organisation.
It was also a successful quarter for the firm's Investment Management division, which recorded £10.9 billion in gross inflows during that time.
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Related News : Banking |
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Related News : Legal and General |
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