Investments Isas would have yielded 40 Per Cent more than cash, savings study indicates

Tue, 06 Mar 2007

People who looked to boost their savings with an investments-based individual savings account (Isa) when the scheme launched would be 39 per cent better off than those who used a cash-based product, it has been claimed.

According to investments specialist Fidelity International, people who have accumulated interest on their cash Isa since 1999 would now be looking at a savings pot of £26,000.

By way of comparison, those who signed up to an investments Isa that followed the performance of the FTSE all-share index on the London Stock Exchange would be able to call upon reserves of £36,000.

"The benefit of investing in the stock market over cash for the long term is evident in our analysis," commented Richard Wastcoat, UK managing director of the investments company.

Meanwhile, Mr Wastcoat also commented on reaction to the Treasury's confirmation late last year that the temporary Isa scheme would become a permanent part of the savings landscape.

"It is encouraging to see that the public are responding to the government's long-term support of the ISA," he said.

Isas were launched in 1999 by chancellor Gordon Brown as a successor to personal equity plans and tax-exempt special savings accounts.

add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

 

 

UK Investments - Financial, Property & Other Investments - 1998-2008

Investments Newsletter

Investments Newsletter