Gold vs US Dollar

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Introduction to ISA

7. Which ISAs are the most popular?

7. Which ISAs are the most popular?

The Investment Managers Association carries out annual research into buying habits and attitudes of callers into the Association’s Unit Trust Information Service (UTIS, on 020 7831 0898). Callers are split 67% men and 33% women compared to 77% and 23% respectively in the first survey in 1994.

At the end of the last ISA year it found that Mini ISAs were increasingly popular, with 50% indicating that they had or would take out a Mini ISA in the 2001/2 year compared with 38% in the previous year. 44% of those intending to take out a Mini ISA said they were taking out the maximum amount allowed, £3,000, and the average Mini investment fund ISA contribution increased to £1,965.

For cash investments, investment funds, like income equity unit and investment trusts and corporate bond funds, were preferred to building society savings deposits as they potentially paid higher rates.

The average lump sum contribution in an investment ISA is £4,610 or £98.30 for monthly contributions. Around 75% of investors opt for lump sum contributions.

There is no doubt that the increasing popularity of Mini ISAs, which can accept the maximum amount of cash that can be put into an ISA, is due to the poor performance of equity investments during the last two years and the consequent choice of cash as the investment vehicle.

Corporate Bond ISAs have been increasingly popular, too, at the expense of equity-based ISAs but the Bonds paying the highest rates are the ones most liable to risk of default by the corporate involved.

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