Recent statistics show that investment in British retail funds has seen a reversal of fortune in the month of April, with a total of £553 million plugged into the investment vehicle.
April is known as Investment Savings Account (ISA) season, as an ISA year extends from April 6th to April 5th. However, the fund flows recently recorded sat beneath the figure seen for the previous year. UK savers put £683 million into funds using an ISA wrapper over the four-week period – far below the £1.4 billion that was invested back in April of 2021.
The 2022 ISA season has, in total, seen net inflows of £934 million. This figure is slightly above the recorded five-year average, which stands at £922 million.
In a statement, experts at the Investment Association (IA) commented on the figures:
“Although inflows to ISA wrappers, based on IA data, were half those of 2021, they were still the third strongest in the last 5 years. This is significant as April’s positive sales come after one of the most challenging first quarters for retail fund flows on record.”
British savers with concerns and questions regarding ISAs often consult wealth managers for financial advice in Shropshire, Hampshire and other affluent counties across the country. Along with providing expert financial guidance, wealth management firms also offer a wide array of services from estate and retirement planning to portfolio management.
Fixed income experienced the largest turnaround this year between March and April, with £18 million withdrawn in April, as opposed to £3.3 billion redeemed in March.