Poor year for Isas pushes net retail sales to 12-year low
Total net retail sales for 2008 were down to £3.9bn compared with £9.5bn in 2007 and are the lowest since 1995, according to the latest figures from the IMA. Europe ex UK and UK All Companies saw the biggest negative net outflows in 2008 losing nearly £2bn and £1.4bn respectively. UK Smaller Companies saw the fourth-highest outflows of £394m. Isas had a bad year with outflows of £1.6bn, the lowest on record. Interestingly Isa sales peaked in December 2008 with inflows of £52.3m, possibly the first time sales have been up outside of the Isa season. IMA chief executive, Dick Saunders,...
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