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Buoyancy predicted for individual savings accounts
Fri, 03 Feb 2006
A "buoyant" season for individual savings accounts (ISAs) is being predicted by the UK's largest mutual fund manager.

Fidelity International says that this is in response to improved sentiments among those making investments and a "stock market rally" lasting almost three years.

ISA sales by the fund manager last month were double the number of savings accounts opened in January 2005, Fidelity says.

In the same period, customer calls to Fidelity's investor telephone services have seen an increase of 43 per cent.

Of those saving money, nearly a third show more optimism than a year ago about the prospect of investment growth in shares.

Fidelity also found that financial advisers share this hope, as 59 per cent predict that they will do more ISA business in 2006 than last year.

Richard Wastcoat, the UK managing director of Fidelity International, says: "It is great to see such a turnaround in sentiment after what has been a turbulent few years for investors."

He believes the FTSE 100 index's rally has "clearly" impacted on the confidence of those with investments and that this signals "a revival for stock market investments".

Mr Wastcoat adds that those with investments are "appreciating the benefits an ISA wrapper can offer".

Fidelity International and its subsidiaries provide investment products and services to individuals and institutional investors outside the US.

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