Savers flock to make investments in ISAs, suggests research

Mon, 27 Mar 2006

Millions of people are expected to invest in an ISA savings account before April 5th, according to new research.

Around 4.7 million people have already made investments in a stocks and shares ISA this year, according to Scottish Widows Investment Partnership (SWIP, while yet another 2.2 million are considering opening an investment ISA before the end of the tax year.

The partnership has also revealed that there is a general trend towards to end of the financial year for consumers to rush to invest in an ISA savings account .

Between 2001 and 2005, approximately 22 per cent of the net money put into investment ISAs was invested in March and the first five days of April of each financial year.

Last tax year 45 per cent of all net ISA investments took place during these final weeks.

According to Simon Wombwell from SWIP, around 15 per cent of Brits surveyed in January were planning on making investments in the stock market this year.

"It is good to see that such a high proportion have already invested and there is still a considerable amount of people intending to invest," he concluded.

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